Mortgages Denominated in Domestic and Foreign Currencies: Simple Models

Pricing in Multiple Currencies in Domestic Markets

We document that a significant fraction of prices in domestic markets of emerging economies are set in dollars. The currency of prices is not homogeneous across goods. More expensive goods are more likely to be set in dollars. We rationalize these facts using a model of price setting in multiple currencies with search frictions. Pricing in dollars prevents erosion of real prices caused by domes...

Defusing the Energy Trap: The Potential of Energy-Denominated Currencies to Facilitate a Sustainable Energy Transition

*Correspondence: Sgouris Sgouridis, Masdar Institute of Science and Technology, P.O. Box 54224, Abu Dhabi, UAE e-mail: [email protected] The universal adoption of fiat currencies and of the fractional reserve banking system coincided with access to and ability to utilize energy-dense fossil fuels leading to unprecedented rates of economic expansion.The depletion of economically recoverabl...

What Does a Swiss Franc Mortgage Cost? The Tale of Polish Trust for Foreign Currency Denominated Mortgages: Implications for Well-Being and Health

It is commonly agreed that excessive household financial debts are detrimental to psychological and physical health. Research also demonstrates that housing instability, mortgage indebtedness and mortgage foreclosure negatively influence subjective well-being. In Poland at the beginning of 2015, homeowners with Swiss franc denominated mortgages suffered from an abrupt swing in the Swiss franc/P...

Foreign Income and Domestic Deductions

critical period effects in foreign language learning:the influence of maturational state on the acquisition of reading,writing, and grammar in english as a foreign language

since the 1960s the age effects on learning both first and second language have been explored by many linguists and applied linguists (e.g lennerberg, 1967; schachter, 1996; long, 1990) and the existence of critical period for language acquisition was found to be a common ground of all these studies. in spite of some common findings, some issues about the impacts of age on acquiring a second or...