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.
Papers published on a yearly basis
Papers
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TL;DR: From the time of the introduction of the denarius system onwards, Roman currency gradually spread over all, or nearly all, the regions under Roman rule, in the wake of their progressive integration into the Empire as mentioned in this paper.
Abstract: From the time of the introduction of the denarius system onwards, Roman currency gradually spread over all, or nearly all, the regions under Roman rule, in the wake of their progressive integration into the Empire. Partly, the denarius replaced previous currencies, partly it brought about the monetization of areas not yet monetized. It was therefore the most striking feature, and indeed the logical premise, of the economic unification of the Empire (in so far as one can speak of such a unification). Until the Severan age, the Roman monetary system remained stable, notwithstanding the widening of the area it covered and the various changes it underwent—the introduction of new denominations and new metals, the retariffing of some elements in relation to each other, the transformation of the physical quality of the coins, for instance through debasement: in fact, there were no sudden and considerable rises of prices and Roman currency almost always enjoyed automatic confidence.
159 citations
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TL;DR: In this paper, the authors studied the behavior of output and its association with other macroeconomic variables in 195 episodes of currency crises in developing countries during 1970-2000. And they found that about 60% of the crises are contractionary, while the rest are expansionary.
159 citations
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TL;DR: In this article, a group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations and evaluates their effectiveness in altering the maturity of the resulting external debt and reducing macroeconomic vulnerability.
Abstract: Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. In "Capital Controls and Capital Flows in Emerging Economies", an esteemed group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations. In the aftermath of the East Asian currency crises of 1997, the authors consider mechanisms that eight countries have used to control capital inflows and evaluate their effectiveness in altering the maturity of the resulting external debt and reducing macroeconomic vulnerability. This volume is essential reading for all those interested in emerging nations and the costs and benefits of restricting international capital flows.
159 citations
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TL;DR: In this paper, a three-country model of payments equilibrium with transaction costs is developed, and it is shown how the underlying structure of payments limits, without necessarily completely determining, the choice and role of a vehicle currency.
Abstract: This paper is concerned with the reasons why some currencies, such as the pound sterling and the U.S. dollar, have come to serve as "vehicles" for exchanges of other currencies. It develops a three-country model of payments equilibrium with transaction costs, and shows how one currency can emerge as an international medium of exchange. Transaction costs are then made endogenous, and it is shown how the underlying structure of payments limits, without necessarily completely determining, the choice and role of a vehicle currency. Finally, a dynamic model is developed, and the way in which one currency can displace another as the international medium of exchange is explored.
157 citations
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TL;DR: This article showed that a large, significant effect of a fixed exchange rate on bilateral trade between a base country and a country that pegs to it can be found when using a new data-based classification of fixed exchange rates.
157 citations