Citations with the tag: CURRENCY substitution
Results 1 - 50
- Currency substitution and exchange rate dynamics: A note.
Koustas, Z.; Ng, K.S. // Atlantic Economic Journal; Mar1991, Vol. 19 Issue 1, number 2 p47
Examines the effects of currency substitution in the context of a model to accommodate different degrees of capital mobility. Purchasing power parity; Emphasis on international capital flows; Gradual adjustment of commodity prices.
- Currency Substitution: Some Further Results and Conclusions.
Miles, Marc A. // Southern Economic Journal; Jul81, Vol. 48 Issue 1, p78
In an earlier paper , I (a) demonstrated how a high degree of currency substitution implies that an independent monetary policy is impossible even under perfectly flexible exchange rates, and (b) presented evidence that the Canadian dollar and U. S. dollar are close substitutes for...
- Currency Substitution: Comment.
Laney, Leroy O.; Radcliffe, Chris D.; Willett, Thomas D. // Southern Economic Journal; Apr84, Vol. 50 Issue 4, p1196
Comments on the concept of international currency substitution in the U.S. Implications of currency substitution on monetary and exchange rate policies; Influence of flexible exchange rates on financial independence; Implications of analyzing tradeoffs.
- Currency Substitution: Reply.
Miles, Marc A. // Southern Economic Journal; Apr84, Vol. 50 Issue 4, p1201
Presents a reply to the comment regarding currency substitution in the U.S. Discussions regarding monetary policies and international exchange rate systems; Influence of foreign money on monetary policies; Details on real phenomena's affecting flexible exchange rates.
- Those `evil' currency traders.
Honeycutt, Dean // World & I; Mar98, Vol. 13 Issue 3, p64
Discusses currency trading around the world. Charges against investor George Soros of starting the free fall of the Malaysian ringgit and other East Asian currencies; Speculators' search for economic weaknesses caused by policies; History of the existing system of floating exchange rates;...
- Launching a Palestinian currency is no small change.
Lynfield, Ben // Christian Science Monitor; 3/29/2000, Vol. 92 Issue 88, p6
Reports on plans to issue a currency for an independent Palestinian state on the Gaza Strip, to replace a system where the shekel, dinar and dollar each circulates freely.
- Analyzing the Persistence of Currency Substitution Using a Ratchet Variable.
Us, Vuslat // Emerging Markets Finance & Trade; Jul2003, Vol. 39 Issue 4, p58
Analyzes the persistence of currency substitution in Turkey through inclusion of a ratchet variable, the past peak value of currency substitution. Results obtained using an autoregressive distributed lag approach; Reversibility of currency substitution.
- Switch to euro worries some European furniture execs.
Carroll, Brian // Furniture/Today; 10/15/2001, Vol. 26 Issue 7, p80
Reports on concerns of furniture executives on the currency switch to euro effective on January 1, 2002 in Europe. Round up of German price lists in euros; Effectivity of price increase on products; Concerns of retailers over European consumers.
- Ratchet Effects in Currency Substitution: An Application to the Kyrgyz Republic.
Mongardini, Joannes; Mueller, Johannes // IMF Staff Papers; 2000, Vol. 47 Issue 2, p218
Analyzes the use of currency substitution in the Kyrgyz Republic up to start of the Russia crisis by including a ratchet variable in the model. Evidence of currency substitution in former Soviet Union countries; Reduction of degree of currency substitution through monetary policies. INSETS: Box...
- Reverse Money Substitution Process: Turkey Case.
Erbaykal, Erman; Darici, Burak; Kadiglu, �zg�r // International Research Journal of Finance & Economics; 2008, Issue 15, p240
This paper investigates whether the currency substitution, which occurred in the 1980's reversed with the .Program for Transition to a Strong Economy. that was applied after the February 2001 crisis in Turkey. For determining de-dollarization, we estimated an M2 money demand function using the...
- THE CHOICE OF EXCHANGE RATE REGIME AND MONETARY TARGET IN HIGHLY DOLLARIZED ECONOMIES.
Berg, Andrew; Borensztein, Eduardo // Journal of Applied Economics; Nov2000, Vol. 3 Issue 2, p285
We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information content of various monetary aggregates in developing countries. We conclude that a high degree of currency substitution argues for a more fixed exchange rate regime, while...
- Financial Innovation and the Speed of Adjustment of Money Demand: Evidence from Bolivia, Israel, and Venezuela.
Copelman, Martina // Working Papers -- U.S. Federal Reserve Board's International Fin; 1996, p1
The author of this paper researches the effects of financial innovation on the demand for real balances in Bolivia, Israel, and Venezuela. Traditional studies of money demand for both developed and less developed countries have shown that there are periods of missing money, referring to a...
- Currency Substitution and Money Demand in Euroland.
De Freitas, Miguel Lebre // Atlantic Economic Journal; Sep2006, Vol. 34 Issue 3, p275
This paper tests the stability of the demand for money in the euro-area in the context of an open economy. A sample consisting of quarterly data covering the 1982:2�1999:3 period is considered. The main finding is that the U.S. dollar long-term interest rate plays a significant role in the...
- Shortage and Currency Substitution in Transition Economies: Bulgaria, Hungary, Poland, and Romania.
Mulligan, Robert F.; Nijsse, Erwin // International Advances in Economic Research; Aug2001, Vol. 7 Issue 3, p275
Presents a study that examined currency substitution in central Europe during the end of central planning and transition to market economies. Background information on centrally-planned economies; Presentation of data; Empirical results; Conclusions.
- Currency Substitution And European Monetary Union.
Laopodis, Nikiforos T. // Journal of Applied Business Research; Fall98, Vol. 14 Issue 4, p47
Assesses the effects of the presence of currency substitution on the effectiveness of European monetary union by employing a methodology of an error-correction model through application of the two-step estimator of cointegrated systems. Methodology and results; Conclusions; Suggestions for...
- Currency Substitution in a Transitional Economy with an Application to the Czech Republic.
Kom�rek, Lubo�; Meleck�, Martin // Eastern European Economics; Jul/Aug2003, Vol. 41 Issue 4, p72
Currency substitution appears to be an important issue affect-ing the design of monetary policy, especially in transition economies. This article strives to analyze the particular relevance of the currency substitution phenomenon in the Czech Republic. We initially discuss the role of...
- Currency Substitution in Mexico.
ORTIZ, GUILLERMO // Journal of Money, Credit & Banking (Ohio State University Press); May83, Vol. 15 Issue 2, p174
The article focuses on the currency substitution of demand deposits in Mexico. The article explains that "dollarization" is defined as the degree to which real and financial transactions are performed in dollars relative to those realized in domestic currency. The author states that previous...
- Functional currency determination.
ORTIZ, GUILLERMO // Accountancy; Sep2007, Vol. 140 Issue 1369, p96
The article proposes an Chinese Internet information service that provides news and current affairs that draws revenue through advertising, and considers how to make the functional currency determination. If the Chinese employers are paid and invoiced in dollars, the functional currency is still...
- The Currency Substitution Hypothesis and Relative Money Demand in Mexico and Canada.
ROGERS, JOHN H. // Journal of Money, Credit & Banking (Ohio State University Press); Aug92, Vol. 24 Issue 3, p300
This article discusses the currency substitution hypothesis and relative money demand in Mexico and Canada. When economic transactions are conducted in United States dollars rather than domestic currency it is known as dollarization. This presents challenges for the monetary authority trying to...
- The Two Brazils.
Maxwell, Kenneth // Wilson Quarterly; Winter99, Vol. 23 Issue 1, p50
Provides information on the historical development of Brazil's economy. Impact of President Fernando Henrique Cardoso's implementation of the currency reform, the Real Plan in 1994; Effect of the global economic crisis on Brazil; Brazilians' concern about its history; Effectiveness of the Real...
- Is gold losing its glitter?
Nickerson, Kira // Money Marketing; 10/21/2010, p56
The author discusses the impact of gold on the economy of Great Britain. It mentions some investors's views regarding the issue which include Ted Scott, director of strategy at F&C, who talked about the traditional use of gold. It is also emphasized that gold should not always be used by banks...
- Hard Times: A Letter From 2035.
Sterling, Bruce // Fortune; 3/6/2000, Vol. 141 Issue 5, pF-50
Offers insights on the state of the economy in the year 2035 in the form of a letter written from that period. Occurrence of a major economic depression; Introduction of a single world currency, the globo; Environmental effects; Consequences of the Digital Revolution after the novelty has...
- EXCHANGE RATES.
Sterling, Bruce // Africa Monitor: Southern Africa; Mar2008, Vol. 13 Issue 3, p11
Two graphs are presented that featured foreign exchange rates of two African countries including South Africa and Mauritius.
- Currency Substitution: Theory and Evidence from Latin America.
Cuddington, John T. // Journal of Money, Credit & Banking (Ohio State University Press); May89, Vol. 21 Issue 2, p267
The article reviews the book "Currency Substitution: Theory and Evidence for Latin America," by Victor A. Canto and Gerald Nickelsburg.
- Currency Substitution under Nonexpected Utility: Some Empirical Evidence.
BUFMAN, GIL; LEIDERMAN, LEONARDO // Journal of Money, Credit & Banking (Ohio State University Press); Aug93, Vol. 25 Issue 3, p320
The article examines the effect of currency substitution on liquidity, interest rates, and monetary policy. The authors qualitatively analyze the impact on government seigniorage of various degrees of dollarization. They used economic data from Israel between 1978-1988 to test the restrictions...
- Dollarization and the Integration of International Capital Markets.
BENCIVENGA, VALERIE R.; HUYBENS, ELISABETH; SMITH, BRUCE D. // Journal of Money, Credit & Banking (Ohio State University Press); May2001 Part 2, Vol. 33 Issue 2, p548
We consider the following questions: (1) Does the adoption of a common currency either reduce or enhance the scope for endogenously generated volatility to emerge? (2) Does the adoption of a common currency reduce or enhance the scope for indeterminacies to arise? (3) Is there a welfare...
- Comment on DOLLARIZATION AND THE INTEGRATION OF INTERNATIONAL CAPITAL MARKETS.
Kehoe, Timothy J. // Journal of Money, Credit & Banking (Ohio State University Press); May2001 Part 2, Vol. 33 Issue 2, p590
The article presents several comments on Valerie R. Bencivenga, Elisabeth Huybens, and Bruce D. Smith's paper "Dollarization and the Integration of International Capital Markets: A Contribution to the Theory of Optimal Currency Areas," published in the May 2001 issue of this journal. The author...
- Fiscal Consequences for Mexico of Adopting the Dollar.
SIMS, CHRISTOPHER A. // Journal of Money, Credit & Banking (Ohio State University Press); May2001 Part 2, Vol. 33 Issue 2, p597
Dollarization implies a reduction in the menu of assets available to the government and to the private sector in managing risk. What- ever the gains from dollarization, the costs of reducing the asset menu need to be weighed against them. This paper presents models, one a simple generalization...
- Comment on FISCAL CONSEQUENCES FOR MEXICO OF ADOPTING THE DOLLAR.
Sargent, Thomas J. // Journal of Money, Credit & Banking (Ohio State University Press); May2001 Part 2, Vol. 33 Issue 2, p617
The article presents several comments regarding Christopher A. Sims' paper "Fiscal Consequences for Mexico of Adopting the Dollar," published in the May 2001 issue of this journal. The author critiques Sims' argument about Mexico's dollarization policy that stops creating nominal debt and argues...
- An empirical study on the hysteresis of currency substitution in Cambodia.
Samreth, Sovannroeun // Journal of Asian Economics; Dec2011, Vol. 22 Issue 6, p518
Abstract: This paper examines whether the currency substitution (CS) phenomenon in Cambodia is in a hysteresis state. We employ a simple model of money-in-the-utility function with two currencies (home and foreign), in which the effect of network externalities on the use of foreign currency is...
- Editor's Introduction.
Brada, Josef C. // Eastern European Economics; Jul/Aug2003, Vol. 41 Issue 4, p3
Introduces a series of articles on Eastern European economics. Organization and performance of stock exchanges in the region; Absence of serious initial public offering activity on stock markets and the net flow of funds from the corporate to the banking sector; Currency substitution in the...
- Foreign Inflation Transmission under Flexible Exchange Rates and Currency Substitution.
Rogers, John H. // Journal of Money, Credit & Banking (Ohio State University Press); May90, Vol. 22 Issue 2, p195
The author examines the impact of currency substitution on the functioning of floating exchange rate. The author explores the possibility that the theoretically expected functioning of the floating exchange rate system may be altered under currency substitution. The author investigates the...
- Currency Substitution and Financial Innovation.
GUIDOTTI, PABLO E. // Journal of Money, Credit & Banking (Ohio State University Press); Feb93, Vol. 25 Issue 1, p109
This article examines the relationship between financial innovation and currency substitution. One effect found by the authors was that innovation changes the relative cost of transactions in a single currency. This can lead to negative co-movement between the nominal and the real exchange rate....
- International Currency Substitution and the Apparent Instability of Velocity in Some Western European Economies and in the United States.
Brittain, Bruce // Journal of Money, Credit & Banking (Ohio State University Press); May81, Vol. 13 Issue 2, p135
The article focuses on international currency substitution and the movements of money's income velocity of circulation in the U.S. and Germany. It states that short-term interest rate behavior in Germany and the U.S. suggests that the relative opportunity costs and variances of expected rates of...
- Currency Substitution and the Demand for Money.
BORDO, MICHAEL D.; CHOUDHRI, EHSAN U. // Journal of Money, Credit & Banking (Ohio State University Press); Feb82, Vol. 14 Issue 1, p48
The article focuses on currency substitution and its importance in the framework of the demand function for money. It states that the efficient markets hypothesis suggests that a good measure of expected exchange rates is the forward rate. It examines the demand for money in Canada for the...
- Currency substitution in Asian countries.
Sharma, Subhash C.; Kandil, Magda; Chaisrisawatsuk, Santi // Journal of Asian Economics; Jun2005, Vol. 16 Issue 3, p489
The objective of this study is to investigate the importance of the U.S. dollar to six Asian economies, as a substitute or complement to domestic monetary assets. Towards this goal, the Morishima elasticity of substitution is estimated between domestic currency, the U.S. dollar and time and...
- Currency Substitution, Capital Mobility and Functional Forms of Money Demand in Pakistan.
Yu Hsing // Lahore Journal of Economics; Jan-Jun2007, Vol. 12 Issue 1, p35
The demand for M2 in Pakistan is positively influenced by real GDP and currency appreciation and negatively influenced by the domestic interest rate and the foreign interest rate. These results confirm international capital mobility and currency substitution. The Box-Cox transformation indicates...
- La moneda internacional y el futuro de los DEG.
Yu Hsing // Bolet�n del CEMLA; mar/abr1979, Vol. 25 Issue 2, p110
No abstract available.
- RIDE THE ROLLERCOASTER.
Yu Hsing // Finance Week; 5/31/2004 Supplement - Richer Life, p17
Reports that investors are turning to the foreign exchange market for the investment action they are not getting out of stocks and bonds. Buying and selling of currencies; Most liquid and most volatile market in the world; Average daily turnover in excess of $1.5 trillion; Lack of accurate...
- DAY TRADING DOLLARS.
Bloom, Leopold // Finance Week; 5/31/2004 Supplement - Richer Life, p19
Describes the experiences of a South African foreign exchange day trader. Euro and American dollar; Traders can make money if they are disciplined; For every dollar on margin, one is borrowing $100 to trade; Suggestion to avoid investment courses that promise overnight wealth; Contact...
- 'Here, Dollars, Dollars...'--Estimating Currency Demand and Worldwide Currency Substitution.
Doyle, Brian M. // Working Papers -- U.S. Federal Reserve Board's International Fin; 2000, p1
This paper develops improved-upon estimates of the international use of the U.S. dollar, the German mark and the Swiss franc for currency substitution purposes. These currency demand estimates are using cointegrating methods and the results were found to be substantially different from commonly...
- The Prediction of the Impacts of the Euro Implementation on the Labour Price in the Slovak Republic - The View of Enterpreneurial Entities.
�p�nik, Miroslav // Economic Studies & Analyses / Acta VSFS; 2010, Vol. 4 Issue 2, p163
The evaluation of the overall impact of the euro implementation on the national economy in the Slovak Republic is one year after its implementation as an official currency unreal1.This process will even be more complicated due to the fact that the change of national currency occurred in the...
- Din�mica de la sustituci�n monetaria en Per�: teor�a y evidencia emp�rica.
�p�nik, Miroslav // Monetaria; jul-sep1995, Vol. 18 Issue 3, p229
No abstract available.
- La dolarizaci�n de la econom�a: apuntes sobre el caso uruguayo.
�p�nik, Miroslav // Bolet�n del CEMLA; ene/feb1998, Vol. 44 Issue 1, p9
No abstract available.
- Aufgebesserte Leistungen aus Lebensversicherungsverträgen – Sozialpolitische Maßnahmen des Bundes –.
Lange, Erhard // Zeitschrift für Sozialreform; feb1964, Vol. 10 Issue 2, p81
The article traces the history of post-World War II pension insurance in Germany, particularly with respect to financial benefit amounts. The impact of the currency switch in 1948 from Reichsmark to Deutschmark on pension benefits is discussed. Compromises on benefit obligations of insurance...
- CURRENCY SUBSTITUTION: EVIDENCE FROM THE CARIBBEAN.
Boamah, Daniel; Guy, Kester; Grosvenor, Tiffany; Lescott, Alexis // Journal of Business, Finance & Economics in Emerging Economies; 2012, Vol. 7 Issue 1, p1
The degree of currency substitution in small open economies has important implications for the purchasing power of the domestic currency and, naturally, the level of consumer confidence in the value of their domestic assets. The benefits and disadvantages of countries adopting a foreign currency...
- Supply-side Godfather.
Egan, Jack // U.S. News & World Report; 10/25/99, Vol. 127 Issue 16, p49
Profiles Robert Mundell, recipient of the 1999 Nobel Peace Prize for economics. Honor for his work on the benefits of substituting a single currency within a geographic region for a system of floating exchange rates; His role in United States President Ronald Reagan's economic policy; Critics...
- GMM Estimates of Currency Substitution between the Canadian Dollar and the U.S. Dollar.
IMROHOROGLU, SELAHATTIN // Journal of Money, Credit & Banking (Ohio State University Press); Nov94, Vol. 26 Issue 4, p792
The article explores the economic and statistical significance of currency substitution, particularly examining the instances between the Canadian and American dollar. The generalized method of moments (GMM) procedure is used by the author along with small, open economic modeling to directly...
- Endogenous Currency Substitution, Inflationary Finance, and Welfare.
CHANG, ROBERTO // Journal of Money, Credit & Banking (Ohio State University Press); Nov94, Vol. 26 Issue 4, p903
The article focuses on questions regarding currency substitution and inflationary finance paradigms, highlighting the treatment of a de facto inflation tax and the choice to avoid or pay it. A model is given to explore the events of inflationary finance within an overlapping-generations open...
- Exchange rate volatility and demand for money in less developed countries.
Bahmani, Sahar // Journal of Economics & Finance; Jul2013, Vol. 37 Issue 3, p442
One implication of currency substitution is that the exchange rate could serve as another determinant of the demand for money. Indeed, many studies have justified this empirically for the majority of countries. If the exchange rate serves as a determinant of the demand for money, exchange rate...