This paper analyses predictions of a simple model of currency crises in which the peg will be abandoned when the currency overvaluation hits a certain threshold, unknown to the agents. Due to learning about the threshold, some features usually observed in the data and identified with models with multiple equilibria arise in the model. But the model yields distinctive predictions about the behav...

Fomites are a well-known source of microbial infections and previous studies have provided insights into the sojourning microbiome of fomites from various sources. Paper currency notes are one of the most commonly exchanged objects and its potential to transmit pathogenic organisms has been well recognized. Approaches to identify the microbiome associated with paper currency notes have been lar...

COPING WITH AND CASHING IN ON INTERNATIONAL CAPITAL VOLATILITY Graham Bird and Ramkishen S. Rajan The political economy of currency taxation suggests that the idea will receive more support if it can be shown to make a significant contribution to offsetting the perceived inefficiencies of private international capital markets. This paper explores what can be expected from a currency tax in this...

Throughout the 1990s, four global waves of financial turmoil occurred. The beginning of the 21st century has also suffered from several crisis episodes, including the severe subprime crisis. However, to date, the forecasting results are still disappointing. This paper examines whether new insights can be gained from the application of the SelfOrganizing Map (SOM) – a non-parametric neural netwo...

The first generation models of currency crises have often been criticized because they predict that, in the absence of very large triggering shocks, currency attacks should be predictable and lead to small devaluations. This paper shows that these features of first generation models are not robust to the inclusion of private information. In particular, this paper analyzes a generalization of th...

With the establishment of the euro, many commentators have drawn positive lessons from European monetary union for monetary integration in other parts of the world. This paper argues that the European experience of the 1990s is richer than a simple story of the inevitability of monetary integration. The dissolution of the Yugoslav, Czechoslovak and Soviet currency areas between 1991 and 1993 me...

Title of Document: ESSAYS ON INTERNATIONAL FINANCE Fernando Gabriel Im, Doctor of Philosophy, 2012 Directed By: Professor Carmen Reinhart, Department of Economics Professor Carlos Végh, Department of Economics In the first paper, I use industry-level data to investigate the impact of exchange rate arrangements on the productive structure of the economy. The identification strategy has similarit...

This paper describes novel market-based technologies for systematic, quantifiable and predictable protection of information systems against attacks. These technologies, incorporated in the MarketNet system, use currency to control access to information systems resources and to account for their use. Clients wishing to access a resource must pay in currency acceptable to the domain that owns it....

The importance of currency and maturity mismatches in the debt structure of emerging markets is an issue that can hardly be overemphasized. Yet, while many papers have explained how imbalances in the asset and liability structure of emerging markets can cause currency and financial crises, the factors that may have triggered such imbalances in the first place have received relatively little att...