Why do countries participate in currency unions or unilaterally adopt a foreign currency? I investigate the roles of geography, synchronization of economic shocks, cultural similarity, size, political integration and colonial heritage as determinants of monetary unions. The results motivate a selection model for common currency areas, which I then use to revisit the impact of currency-union mem...

In this paper, an algorithm based on the frequency domain feature extraction method is discussed for the detection of currency. This method efficiently utilizes the local spatial features in a currency image to recognize it. The entire system is pre-processed for the optimal and efficient implementation of two dimensional discrete wavelet transform (2D DWT) which is used to develop a currency r...

The present paper examines the ability to evaluate prices in a familiar currency (French francs, Portugese escudos, or Irish punt) and in an unfamiliar currency (euro). Participants evaluated prices for different items either by selecting the most appropriate price from a set of alternatives (in a timed or not-timed version) or by directly producing a price estimate for each item. The results f...

The contagion aspect of the currency crisis is an important research issue today. In this paper, we set up a dynamic differential model of currency crisis cross contagions between two countries by expanding generalized logistics model, and analyze all kinds of possible equilibrium conditions. It is probably a new idea of studying currency crisis contagion mechanism.

The number of independent countries has almost tripled since World War II: in 1946 there were 76 independent countries; today there are 193. Until recently, most countries had their own currencies. Hence, the expansion of the number of countries led to a proliferation of the number of currencies. More recently, however, the identification of currencies with countries has weakened, and the discu...