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...

Recent emerging market crises have emphasized the fluctuating character of trade’s reaction after financial crises, in contradiction with the apparently simple theoretical impact of such events on trade, which is essentially described by the well-known J-curve mechanism.. We use a gravity-like equation to assess the impact of these events on bilateral sectoral trade and reveal the elements whic...

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...

In this paper, we have developed a new general distance measure that not only can be used in a vector quantization (VQ) of the line spectrum frequency (LSF) parameters but performes well in the LSF transformed domain. The new distance is based on the spectral sensitivity of LSF and their transformed coe cients. In addition, the x scaling factor is used to decrease the sensitivity of spectral er...

Voice adaptation describes the process of converting the output of a text-to-speech synthesizer voice to sound like a different voice after a training process in which only a small amount of the desired target speaker’s speech is seen. We employ a locally linear conversion function based on Gaussian mixture models to map bark-scaled line spectral frequencies. We compare performance for three di...

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...

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...