Sudden stops can be characterized by sharp reversals in capital inflows, large declines in output, and steep collapses in real asset prices (Mendoza and Smith, 2009). In almost all recent crises, capital account reversals amounting to more than 10% of an afflicted country’s GDP have occurred (Calvo and Reinhart, 1999 and Nabli, 1999). More specifically, reversals in capital flows to emergin...

This two-fold presentation will discuss the Cyber-Physical-Systems (CPS) framework in light of these incidents, as well as position the incidents within an over-all resilience concept while making connections to various resilience techniques. Discussion. Cognizant of the fact that resilience has been defined by various disciplines (e.g., social, ecological, biological, and engineering) and in d...

With the establishment of the euro, many commentators have drawn positive lessons from European monetary union for monetary integration in other parts of the world. This paper argues that the European experience of the 1990s is richer than a simple story of the inevitability of monetary integration. The dissolution of the Yugoslav, Czechoslovak and Soviet currency areas between 1991 and 1993 me...

The currency market features a small cross-section, and conditional expected returns can be characterized by few signals: interest differential, trend, mean reversion. We exploit these properties to construct the ex ante mean-variance efficient portfolio of individual currencies. is updated in real time prices all prominent trading strategies, conditionally unconditionally. fraction risk assets...

Background. Bitcoin protocol was released in 2009, which created a revolutionary virtual currency, the Bitcoin. Many cryptocurrencies have appeared last decade, and as result nowadays approximately 4940 are registered, new ones emerge almost every day. Majority of central banks do not accept these real currencies, rather they draw attention for their dangers risks. At same time, despite warning...

There are few published articles on the demand for campsites, despite this being an important segment of tourism industry. The purpose study was to gain further understanding topic. Using publicly available data over a period 20 years, income and currency elasticity were estimated German Swedish camping tourists by using natural logarithmic regression model with time series data. results showed...