Topic
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.
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Book•
01 Jan 1994
TL;DR: The authors describes how people have invented their own forms of currency, earmarking money in ways that baffle market theorists, incorporating funds into webs of friendship and family relations, and otherwise differentiating the process by which spending and saving takes place.
Abstract: A distinguished social scientist shows what money really does for us--and to us. The book describes how people have invented their own forms of currency, earmarking money in ways that baffle market theorists, incorporating funds into webs of friendship and family relations, and otherwise differentiating the process by which spending and saving takes place.
1,287 citations
01 Mar 1998
TL;DR: In this article, the authors examine the empirical evidence on currency crises and propose a specific early warning system, which involves monitoring the evolution of several indicators that tend to exhibit an unusual behavior in the periods preceding a crisis.
Abstract: This paper examines the empirical evidence on currency crises and proposes a specific early warning system. This system involves monitoring the evolution of several indicators that tend to exhibit an unusual behavior in the periods preceding a crisis. When an indicator exceeds a certain threshold value, this is interpreted as a warning "signal" that a currency crisis may take place within the following 24 months. The variables that have the best track record within this approach include exports, deviations of the real exchange rate from trend, the ratio of broad money to gross international reserves, output, and equity prices.
1,262 citations
Posted Content•
TL;DR: In this article, a self-reinforcing mechanism for currency market equilibria is presented, in which high unemployment may cause an exchange rate crisis with self-fulfilling features.
Abstract: The discomfort a government suffers from speculation against its currency determines the strategic incentives of speculators and the scope for multiple currency-market equilibria. After describing an illustrative model in which high unemployment may cause an exchange rate crisis with self-fulfilling features, the paper reviews some other self-reinforcing mechanisms. Recent econometric evidence seems to support the practical importance of these mechanisms.
1,259 citations
TL;DR: In this article, the authors present a model of trade in which comparative advantage, instead of being determined by underlying attributes of countries, evolves over time through learning-by-doing, where arbitrary patterns of specialization, once established, tend to become entrenched over time.
1,240 citations
Book•
01 Jan 2002TL;DR: In the last few decades exchange rate economics has seen a number of developments, with substantial contributions to both the theory and empirics of exchange rate determination as mentioned in this paper. But, while our understanding of exchange rates has significantly improved, a few challenges and open questions remain in the exchange rate debate, enhanced by events including the launch of the Euro and the large number of recent currency crises.
Abstract: Description Contents Resources Courses About the Authors
In the last few decades exchange rate economics has seen a number of developments, with substantial contributions to both the theory and empirics of exchange rate determination. Important developments in econometrics and the increasingly large availability of high-quality data have also been responsible for stimulating the large amount of empirical work on exchange rates in this period. Nonetheless, while our understanding of exchange rates has significantly improved, a number of challenges and open questions remain in the exchange rate debate, enhanced by events including the launch of the Euro and the large number of recent currency crises. This volume provides a selective coverage of the literature on exchange rates, focusing on developments from within the last fifteen years. Clear explanations of theories are offered, alongside an appraisal of the literature and suggestions for further research and analysis.
1,222 citations