The article is devoted to the problems of digital currencies (further — DG) in Germany. types DGs and their status Germany are considered. author analyzes approaches legislator, regulator doctrine content concepts “blockchain”, “digital assets”, “tokens”, “cryptocurrencies”, etc. federal act on electronic securities 2021 ETSB) other acts analyzed. advantages disadvantages Germany’s approach ass...

Received 28.07.2020. The article examines issues related to the introduction of central bank digital currencies (CBDC) for retail payments and wholesale settlements. study defines classifies currencies, researches main models CBDC systems. also analyzes features various national projects issuing Central currencies. paper uses methods economic-statistical functional-structural analysis. conclude...

This book is based on a conference held at Kalamazoo College Michigan. In 11–12 May 2001, on the lessons of the European Monetary Union (EMU) for the Americas. Much of the economic analysis of moving to EMU has been undertaken within the context of the Optimal Currency Area (OCA) paradigm, based on Mundell’s (1961) seminal contribution. In that view money is viewed as having developed from a pr...

In the current complex financial world, paper currencies are vulnerable and unsustainable due to many factors such as account deficit, gold reserves, dollar political stability, security, presence of war in region, etc. The vulnerabilities not limited above, result fluctuation instability currency values. Considering devaluation some Asian countries Pakistan, Sri Lanka, Türkiye, Ukraine, there ...

This paper analyzes extreme co-movements between the Australian and Canadian commodity currencies, and the gold and oil markets respectively, within a multivariate extension of the Hawkes-POT model. The intensity of extreme events in the Australian dollar are influenced by extreme events in gold, while the size of extreme events in the Canadian dollar are driven by extreme events in crude oil. ...

This paper investigates whether incorporating sentiment extracted from Twitter’s trending topics would improve the intra-day exchange rate predictions. What makes this paper unique is that unlike previous similar studies which only consider tweets that contain the symbol or the name of the currency or stock, it looks at all trending topics irrespective of whether they contain the name or the sy...

The paper investigates the impact of EMU on foreign direct investment flows. Using the option value approach to investment decisions, it is possible to show how exchange rate uncertainty hinders cross-border investment flows. By permanently fixing bilateral exchange rates, a currency union can then be expected to spur international investment. Results from a gravity model on a sample of OECD co...

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...