A Simple Model and its Application in Currency Valuation

Currency Valuation and Purchasing Power Parity

Hysteresis in a simple model of currency substitution

A cash-in-advance model in which the cost of buying goods with a foreign currency is decreasing in the economy’s accumulated experience in transacting in the foreign currency is shown to display hysteresis in money velocity; that is, a temporary increase in expected in ation can cause a permanent increase in velocity. In addition, the model implies that the domestic currency does not have to do...

Oil Currency and the Dollar Standard: A Simple Analytical Model of an International Trade Currency∗

It is widely accepted that the US dollar is the central reference currency for international trade pricing in final goods. At the same time, the dollar is the main invoicing currency for primary commodities. This paper links these two observations within a stylized theoretical framework, and shows how this may be used to obtain a quantitative estimate of the gain to the US economy from the use ...

construction and validation of translation metacognitive strategy questionnaire and its application to translation quality

like any other learning activity, translation is a problem solving activity which involves executing parallel cognitive processes. the ability to think about these higher processes, plan, organize, monitor and evaluate the most influential executive cognitive processes is what flavell (1975) called “metacognition” which encompasses raising awareness of mental processes as well as using effectiv...

A Novel Assisted History Matching Workflow and its Application in a Full Field Reservoir Simulation Model

The significant increase in using reservoir simulation models poses significant challenges in the design and calibration of models. Moreover, conventional model calibration, history matching, is usually performed using a trial and error process of adjusting model parameters until a satisfactory match is obtained. In addition, history matching is an inverse problem, and hence it may have non-uni...