Concept

Devise (monnaie)

Publications associées (23)

Optimal exchange rate flexibility with large labor unions

We study the optimal volatility of the exchange rate in a two-country model with sectoral non-atomistic wage setters, non-traded goods, nominal rigidities and alternative pricing assumptions – producer or local currency pricing. Labor unions internalize th ...

Elsevier2016

Poster: LocalCoin: An Ad-hoc Payment Scheme for Areas with High Connectivity

Boi Faltings, Sujit Prakash Gujar, Dimitrios Chatzopoulos

The popularity of digital currencies, especially cryptocurrencies, has been continuously growing since the appearance of Bitcoin. Bitcoin is a peer-to-peer (P2P) cryptocurrency protocol enabling transactions between individuals without the need of a truste ...

Assoc Computing Machinery2016

LocalCoin: An ad-hoc payment scheme for areas with high connectivity: poster.

Boi Faltings, Sujit Prakash Gujar, Dimitrios Chatzopoulos

ACM2016

On the Benefits of a Monetary Union: Does it Pay to Be Bigger?

Chiara Forlati

This paper revisits the question of the appropriate domain of a currency area using a New-Keynesian open economy model in which the world is split in two areas, each framed as a continuum of small open regions. We show that the adoption of a common currenc ...

Center for Fiscal Policy Working Paper Series2013

Liquidity in the Foreign Exchange Market: Measurement, Commonality, and Risk Premiums

Loriano Mancini, Angelo Ranaldo

We provide the first systematic study of liquidity in the foreign exchange market. We find significant variation in liquidity across exchange rates, substantial illiquidity costs, and strong commonality in liquidity across currencies and with equity and bo ...

Wiley-Blackwell2013

One-to-n Scrip Systems for Cooperative Privacy-Enhancing Technologies

Jean-Pierre Hubaux, Mathias Jacques Jean-Marc Humbert

Scrip is a generic term for any substitute for real currency; it can be converted into goods or services sold by the issuer. In the classic scrip system model, one agent is helped by another in return for one unit of scrip. In this paper, we present an upg ...

2011

Dissecting the Dynamics of the US Trade Balance in an Estimated Equilibrium Model

In an estimated two-country DSGE model, we find that efficiency shocks specific to investment account for more than half of the forecast variance of cyclical fluctuations in the US trade balance. Both domestic and foreign investment-specific shocks have a ...

Ghent University Faculty of Economics and Business Administration Working Paper 2008/5442011

Path planning versus cue responding: a bioinspired model of switching between navigation strategies

Ricardo Andres Chavarriaga Lozano

In this paper we describe a new computational model of switching between path-planning and cue-guided navigation strategies. It is based on three main assumptions: (i) the strategies are mediated by separate memory systems that learn independently and in p ...

Springer Verlag2010

Single-field inflation constraints from CMB and SDSS data

Julien Lesgourgues, Fabio Finelli, Jan Hamann

We present constraints on canonical single-field inflation derived from WMAP five year, ACBAR, QUAD, BICEP data combined with the halo power spectrum from SDSS LRG7. Models with a non-scale-invariant spectrum and a red tilt n(S) < 1 are now preferred over ...

2010

Optimal Monetary and Fiscal Policy in the EMU: Does Fiscal Policy Coordination matter?

Chiara Forlati

I develop and analyze a DSGE model of a currency union to revise the question of how to conduct monetary and fiscal policy in countries that share the same currency. In contrast with the previous literature which assumes coordination, this paper analyzes t ...

Center for Fiscal Policy Working Paper Series2009

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