Search results for "jel:E42"
showing 7 items of 7 documents
The Dynamics of Currency Substitution: Evidence from UK Foreign Currency Balances
2006
This study evaluates the magnitude of the permanent and the transitory components of currency substitution in the UK. The results indicate that the permanent component, the ratchet effect, accounted only for a small share while the aggregate temporary component, speculation, whose impact lasts about one month, was responsible for most of the dynamics of UK currency substitution. The findings thus lend support to the view that at worst currency substitution would only cause short-run problems for the UK economy.
L'analyse de la monnaie et de la finance par David Hume : conventions, promesses, régulations
2008
De l’apport de David Hume a l’analyse economique, un aspect est generalement retenu : son approche presumee quantitative de la monnaie. Or, lorsqu’on resitue l’examen des relations monetaires et financieres a l’interieur de son corpus philosophique, il revele d’autres perspectives. Selon Hume, le processus de civilisation institue certaines fictions, qui permettent aux individus de forger un ordre symbolique. Dans une economie de marche, la distinction entre la monnaie – de nature conventionnelle – et les engagements financiers – assimiles a des promesses – est centrale. Alors que les conventions monetaires autorisent de multiples agencements, les engagements financiers doivent etre etroite…
Exchange Rate Arrangements in Central and Eastern European Countries – Evolutions and Characteristics
2007
The process of choosing the exchange rate regime for the new EU member states has been influenced by other criteria than the traditional ones, which belong to macroeconomic criteria. This paper make a comparative analyze of the exchange rate arrangements in Central and Eastern European after 1990. These arrangements are dynamic on the one hand due to their permanent diversification and on the other hand because the values established this way are rapidly changing. In essence, they differ according to the degree of flexibility adopted when the exchange rate is established: from more rigid forms – currency board or pegging the currency to a foreign currency – to free floating.
MODERN TECHNOLOGY IN RURAL CHARACTERISTICS
2012
Electronic business can change the socio-economic life of a people. It can increase knowledge, and employee revenue. In this paper we are focusing on how it promotes improving the structure of economic sectors within the rural areas. Then it can increase the farmers' level of organization. It promotes a career and employment in manufacturing for the village inhabitants. Family life of farmers and the social appearance in the rural environment are greatly improved as well Also it raises the education and social value of the population in the rural areas of the country.
THE REVOLUTION OF DIGITAL TECHNOLOGY
2012
Like any other revolution, the one that we are living nowadays will cause victims. The Mass-media and the retail have been already hit rising of the digital technology, the same as in the past in the days the confection factories, entailed the end of the loom, and the appearance of the Ford Model T brought to extinction of the blacksmith on the market. If we look now to the future factories, we will probably get frightened on the idea. Not only will the manner be affected, but also the place where the objects will be made as well. This paper present an interpretations of the answers following the questionnaire worked out last year and its results will be useful for both the research and the…
The International Monetary System in the Context of the Actual Financial Crisis. Change Proposals
2013
The International Monetary System (I.M.S.) has a crucial role in economy, representing the frame for a sustainable development of the economic relationships between states, while contributing at the progress of the world’s economies. Nowadays, this system confronts large difficulties, as a consequence of the lack of financial disciplinary instruments, meant at regulation and coordination. The actual economic-financial crisis proved the limits of the present I.M.S., reason why it is now under “reconstruction”. In this direction, there is a series of reforms that can be implemented, so that the new architecture of the system is much more solid.
The Euro and Monetary Policy Transparency
2002
This paper focuses on a possible explanation for the weakness of the euro, namely the lack of transparency of the European Central Bank's (ECB) monetary policy. In order to obtain a time-varying measure of monetary policy uncertainty in both the U.S. and Euroland, we estimate a Stochastic Volatility model using policy-adjusted short-term interest rates. We also analyze directly the impact of higher uncertainty on the euro-dollar exchange rate. The empirical findings are in line with those of other studies, and show that the U.S. Fed is more transparent than the ECB. This results in higher volatility of European interest rates, capital outflows, and a weaker euro vis-a-vis the U.S. dollar.