Six assertions concerning the status of Bitcoin are formulated and defended: (i) Bitcoin is not and will not become a currency-like informational commodity, (ii) currencylike informational commodities that aren’t currencies must be frauds, (ii) specific BTC amounts may become monetized and thus may be turned into financial assets, (iii) currently no BTC amounts are monetized in any currency are...

This paper investigates how the benefits of hedging currency risk and the incentives of a firm to hedge are affected by the hedging strategies of competing firms. In competitive industries, if currency hedging is uncommon, prices are expected to positively co-vary with exchange rate related cost shocks providing firms with a ‘natural hedge’. As the extent of currency hedging in an industry rise...

Over the past three years, cross-border inflows into emerging market (EM) local currency bonds have surged. The returns on these bonds have moved more closely with those on international assets regarded as “safe”, particularly following the euro area debt crisis. This paper first demonstrates that domestic factors have tended to dictate the dynamics of the EM local currency government yield. Th...

The coincidence of banking and currency crises associated with the Asian financial crisis has drawn renewed attention to causal and common factors linking the two phenomena. In this paper, we analyze the incidence and underlying causes of banking and currency crises in 90 industrial and developed countries over the 1975-97 period. We measure the individual and joint (“twin”) occurrence of bank ...

Comparable economies to that of a new Palestinian state have mostly opted for a pegged exchange rate regime, but generally not a currency union or a currency board. The issue of a new Palestinian currency would bring only relatively small steady state seigniorage, but the transitional seigniorage gains would be more significant. Gravity models suggest the new state would do up to a third of its...

The main objective of this project is fake currency detection using the image processing. Fake currency detection is a process of finding the forgery currency. After choose the image apply preprocessing. In pre-processing the image to be crop, smooth and adjust. Convert the image into gray color. After conversion apply the image segmentation. The features are extracting and reduce. Finally comp...

the narratives permitting common reading of quran, despite differences in the readings of imams and those of common ones, allow people to read as common reading. some persons regard seven readings as the proof of their permissibility. others, based on periods, have considered them as permissible only in the imams era. and some jurists have regarded only hafs’ narrative as the proof of these tra...

The recent sharp appreciation of the Canadian dollar vs. the US dollar poses difficulties for the Canadian economy and reignites the debate as to whether Canada should fix the Canadian dollar to the US dollar by implementing a unilateral peg or forming a monetary union. We compare the welfare of different combinations of monetary and currency policies in an open-economy macroeconomic model that...

This paper explicitly considers 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 uses seigniorage to provide public goods. Agents consume private goods, and the public goods of their own country. We have several Þndings. The negative impact of...