In this paper, an algorithm based on the frequency domain feature extraction method is discussed for the detection of currency. This method efficiently utilizes the local spatial features in a currency image to recognize it. The entire system is pre-processed for the optimal and efficient implementation of two dimensional discrete wavelet transform (2D DWT) which is used to develop a currency r...

Car prices in Europe are characterized by large and persistent di®erences across countries. The purpose of this paper is to document and explain this price dispersion. Using a panel data set extending from 1980 to 1993, we ̄rst demonstrate two main facts concerning car prices in Europe: (1) The existence of signi ̄cant di®erences in quality adjusted prices across countries, with Italy and the U....

In this talk I assert that the usual interpretation of what one means by “elasticity” is much too insular and illustrate my thesis by introducing implicit constitutive theories that can describe the nondissipative response of solids. I show that response which was hitherto untenable within the context of Cauchy or Green Elasticity are not only possible, they can explain phenomena that have thus...

The contagion aspect of the currency crisis is an important research issue today. In this paper, we set up a dynamic differential model of currency crisis cross contagions between two countries by expanding generalized logistics model, and analyze all kinds of possible equilibrium conditions. It is probably a new idea of studying currency crisis contagion mechanism.

Ritschl and Wolf (2003) rely on an unusual variable for currency unions in their empirical analysis. In particular, their data set indicates that all the country-pairs listed below were considered to be in currency unions in the interwar period. Thus, according to Ritschl and Wolf, Austria and Bulgaria were in a currency union. Indeed, Austria was also in currency union with Czechoslovakia, Den...

This paper attempts to examine the effect of a currency devaluation on domestic output by incorporating the Coase (1937) assertion into a standard open economy model. Our results show that there will be multiple equilibria in the labor market, i.e. low or high employment equilibrium, because of transaction cost externalities. If the labor market is in the high-employment equilibrium, a currency...

Using a two-country general equilibrium model, this paper analytically derives the possibility of positive welfare consequences of vehicle currency use in invoicing international trades. Such vehicle currency use is prominent in the data. The literature points out welfare loss under optimal monetary policy due to vehicle currency pricing relative to the flexible price equilibrium outcome, model...