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Currency

About: Currency is a research topic. Over the lifetime, 26697 publications have been published within this topic receiving 485370 citations. The topic is also known as: monetary unit & unit of money.


Papers
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Journal ArticleDOI
TL;DR: In this paper, the joint movements of exchange rates and U.S. and foreign term structures over short-time windows around macro announcements are studied using a 14-year span of high-frequency data.

489 citations

Journal ArticleDOI
01 Jan 1995
TL;DR: The Mexican peso's collapse in late 1994 remains a topic of controversy as mentioned in this paper, with the notion that the devaluation was a blunder or worse shared by the Wall Street Journal's editorial board, some members of U.S. Congress, and other advocates of hard money, including exposed investors.
Abstract: THE COLLAPSE of the Mexican peso in late 1994 remains a topic of controversy. To some observers it appeared that the bungling of a new administration had brought about a disaster where there was no problem and every reason to expect stability and prosperity. In fact, some even argue that the damage could be undone by raising the peso to its initial level. The notion that the devaluation was a blunder or worse was shared by the Wall Street Journal's editorial board, some members of the U.S. Congress, and other advocates of hard money, including exposed investors. In the Financial Times Jude Wanniski referred to "currency devaluationists," and "currency debauchery" at the hands of Lawrence Summers and Stanley Fischer. ' To others, the ultimate collapse seemed inevitable and the only issue was one of timing. In this view currency alignment-devaluation or floating-was long overdue and had it been accomplished earlier, much

486 citations

Journal ArticleDOI
TL;DR: The authors found that sectors more dependent on external finance should perform relatively worse during banking crises, and that the differential effects across sectors are stronger in developing countries, in countries with less access to foreign finance, and where banking crises were more severe.

486 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the relationship between low interests maintained by advanced economy central banks and credit booms in emerging economies and found that expectations of lower short-term rates dampened measured risks and stimulate cross-border banking sector capital flows.

482 citations

Journal ArticleDOI
TL;DR: In this paper, the use of peer-to-peer networks and open-source software to stop double spending and create finality of transactions is discussed, and the rise of 24/7 trading on computerized markets in Bitcoin in which there are no brokers or other agents is discussed.
Abstract: Recent innovations have made it feasible to transfer private digital currency without the intervention of an institution. A digital currency must prevent users from spending their balances more than once, which is easier said than done with purely digital currencies. Current digital currencies such as Bitcoin use peer-to-peer networks and open-source software to stop double spending and create finality of transactions. This paper explains how the use of these technologies and limitation of the quantity produced can create an equilibrium in which a digital currency has a positive value. This paper also summarizes the rise of 24/7 trading on computerized markets in Bitcoin in which there are no brokers or other agents, a remarkable innovation in financial markets. I conclude that exchanges of foreign currency may be the obvious way in which use of digital currencies can become widespread and that Bitcoin is likely to limit governments’ revenue from inflation.

482 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20244
20231,221
20222,371
2021730
2020944
20191,044