There has been little evidence to support the use of commodity-currency cross-hedges (Demaskey and Pearce, 1998; Benet, 1990; Eaker and Grant, 1987). However, this paper shows that if currencies can be defined as commodity currencies, as per Chen and Rogoff (2003) and Cashin, spedes and Sahay (2002), commoditycurrency cross-hedges are effective and beneficial. Two commodity currencies, the Papu...

Many pricing and risk management models need credit spread curves as an input. Given the small number of bonds outstanding per issuer the estimation of credit spread curves is not trivial in the corporate bond market. To ensure a sufficient number of bonds for the estimation procedure in many cases bonds in different currencies have to be used which implies that the estimation procedure has to ...

The rising popularity of loyalty programs and related marketing promotions has resulted in the introduction of a number of new currencies (e.g., frequent flier miles, Hilton HHonors points, Diner’s Club “Club Rewards”) that people accumulate, budget, save and spend much like traditional paper money. As consumers are increasingly able to pay for goods and services such as airline travel, hotel s...

During the Covid-19 pandemic, there has been a rapid shift in global transaction patterns from offline to online digital payment models, along with growing interest development of Central Bank Digital Currencies (CBDCs) various countries. This article spotlights unexamined issue currency regulation by examining practice and related regulatory rules pilot CBDC China. Beginning design choices cur...

The spectacular rise late last year in the price of bitcoin, the dominant virtual currency, has attracted much public attention as well as scholarly interest. This policy brief discusses how some features of bitcoin, as designed and executed to date, have hampered its ability to perform the functions required of a fiat money––as a medium of exchange, unit of account, and store of value. Further...

The emergence of digital currency adds new components to the global economic system and monetary system. However, as an emerging thing, its own characteristics such anonymity, de-neutrality cross-border also bring complex regulatory problems economy. It is necessary establish effective international currency. Through analysis risks itself, well study existing measures system, it found that ICO ...

Currency recognition is an important area of pattern recognition. A system for the recognition of currency is one kind of intelligent system which is a very important need of the current automation systems in the modern world of today. Currency Recognition and is implemented to reduce human power to automatically recognize the amount monetary value of currency and without human supervision. The...