Abstract: Central banks have long been interested in obtaining precise estimations of money demand given the fact that the evolution of money demand plays a key role over several monetary variables. One implication of currency substitution is that the exchange rate could serve as another determinant of the demand for money. Due to the recent currency crisis in Iran, it would be important to inv...

This paper argues that fiscal convergence in the Euro area has been achieved at the expenses of real divergence in unemployment, investment and at, at least temporarily, growth. Statistical and econometric analysis support the view that the current fiscal framework has addressed debt sustainability concerns, but has imparted a pro-cyclical bias, which has contributed to economic divergence. The...

Maintaining price stability in the euro area is the primary objective of the single monetary policy of the European Central Bank. In following this goal, monetary policy cannot prevent, however, inflation rates from differing between member countries of EMU. For example, over the last twelve months, the year-on-year rates of the HICP for Germany, Austria and the Netherlands averaged around 11⁄2...

The goal of this paper is to present a local convergence analysis of Newton’s method for approximating a locally unique solution of an equation in a Banach space setting. Using the gauge function theory and our new idea of restricted convergence regions we present an extended and unified convergence theory. Key–Words: Newton’s method, Banach space, semilocal convergence, gauge function, converg...

Right now, Fake Currency Acknowledgment System is intended to identify the fake paper cash check whether it phony or unique. The current issue due demonetization impacts financial framework and furthermore in other fields. Another methodology of Convolution Neural Network towards ID money notes through their pictures inspected right now similarly better than past picture handling strategies. Th...

New convergence intervals of parameters αi are derived and applied for solving the modified linear systems, which enables a better understanding of how parameters should be chosen. The convergence theorem for H-matrix is given. Meanwhile, we discuss the convergence results forM -matrices linear systems and give some new preconditioners. Numerical examples are used to illustrate our results. Key...

We analyze the effect of European Union (EU) membership on financial dollarization for the Central and Eastern European countries. Using a unique monthly dataset that spans about two decades, we find that both the accession process toward EU membership and EU entry have a direct impact on deposit and loan dollarization. EU membership reduces deposit dollarization while it increases loan dollari...

With the Treaty on European Union, signed in 1992, the Union set for itself the objective of establishing the European Economic and Monetary Union (EMU), ultimately including a single currency. Sustained convergence in economic performance and close co-ordination of Member States’ economic objectives, set out in a timetable, were key elements of this process. Convergence towards low rates of in...

In this paper, we prove the ∆-convergence theorems of the cyclic algorithm and the new multi-step iteration for k-strictly pseudo-contractive mappings and give also the strong convergence theorem of the modified Halpern’s iteration for these mappings in a CAT (0) space. Our results extend and improve the corresponding recent results announced by many authors in the literature. Key–Words: CAT (0...