The majority of forecasting methods use a physical time scale for studying price fluctuations of financial markets, making the flow of physical time discontinuous. An alternative to this is event-based summaries. Directional changes (DC), which is a new event-based summary method, allows for new regularities in data to be discovered and exploited, as part of trading strategies. Under this parad...

Despite the fast growing popularity of in-game purchases of virtual currency (to obtain game enhancing virtual items) in digital games, there is very limited formal research that studies this new business model and its impacts on players’ gameplay behavior and social welfare. This paper builds upon the classic labor-leisure model to capture players’ dual experience of enjoying leisure and earni...

One simple method of recognizing paper currencies has been introduced. It considers different dimensions, areas, Euler numbers, correlations between images as features. It uses Weighted Euclidean Distance for classification. The method uses the case of Saudi Arabian paper currency as a model currency under consideration. It uses fifth series of currency, issued by Saudi Arabian Monetary Agency ...

The Lévy Libor or market model which was introduced in Eberlein and Özkan (2005) is extended to a multi-currency setting. As an application we derive closed form pricing formulas for cross-currency derivatives. Foreign caps and floors and cross-currency swaps are studied in detail. Numerically efficient pricing algorithms based on bilateral Laplace transforms are derived. A calibration example ...

We develop models of stochastic discount factors in international economies that produce stochastic risk premiums and stochastic skewness in currency options. We estimate the models using time-series returns and option prices on three currency pairs that form a triangular relation. Estimation shows that the average risk premium in Japan is larger than that in the US or the UK, the global risk p...

We explicitly consider strategic interaction between governments to study currency competition and its effects on the circulation of currencies and welfare in a two-country twocurrency search theoretic model. Each government finances public goods by means of seigniorage. Compared with a regime with two local currencies, a regime with one international currency allows the issuer of the internati...

this article studies sir walter scott’s use of the family-as-nation trope in ivanhoe and anne of geierstein. the importance of this trope in his figuration of nationhood is discerned by carrying out a close reading of the texts and placing them in their historical context, which primarily consists of a comparison with edmund burke and maria edgeworth. consequently, his position is revealed as b...

this paper surveys the persian monetary crises due to economic sanctions and speculative attacks that leads to high inflation. economic sanctions are associated with various forms of trade barriers and restriction on financial transactions. among the most influential sanctions on iran's oil export and central bank sanctions are noted that their aims to reduce iran's oil revenues and devaluation...