Derivatives markets in emerging economies have continued to grow since 2010, driven mostly by very strong growth in the OTC market. Emerging market currencies have become more international as offshore markets are a major contributor to FX turnover. The Chinese renminbi is actively traded within emerging Asia. Trading of emerging market currencies is positively related to the size of cross-bord...

Paper currencies could be one of the most potential vehicles to transmit diseases amongst the people. The daily transactions have made the paper currency to pass through many hands and pathogens become imposed on them before they are finally deposited in banks. Modern scientific studies have confirmed the presence of various pathogenic bacteria on paper currencies. Amongst others, Staphylococcu...

ƒ This article focuses on digital currencies issued by Internet platforms such as Facebook and Amazon. Depending on the platform’s business model, its digital currency may be equipped with different attributes that affect how users can acquire, transfer or redeem the digital currency. In most cases, platforms restrict the functionality of their digital currencies to enhance the business model a...

Abstract Can massive online retailers such as Amazon and Alibaba issue digital tokens that potentially compete with bank debit accounts? There is a long history of trading stamps loyalty points, but new technologies are poised to sharply raise the significance redeemable assets store value. Here, we develop simple stylized model can be used study sales pricing strategies for issuing tokens, inc...

Paper currencies could be one of the most potential vehicles to transmit diseases amongst the people. The daily transactions have made the paper currency to pass through many hands and pathogens become imposed on them before they are finally deposited in banks. Modern scientific studies have confirmed the presence of various pathogenic bacteria on paper currencies. Amongst others, Staphylococcu...

Abstract: This paper presents a one factor and a two factor arbitrage-free interest rate models with parsimonious implied volatility functions. The models are empirically tested on the entire swaption surface in three currencies (U. S. dollar, Euro and Japanese yen) over a five year period. They are shown to be robust in explaining the swaption values, and the implied volatility functions are s...

This paper reviews some recent developments in digital currency, focusing on platform-sponsored currencies such as Facebook Credits. In a model of platform management, we find that it will not likely be profitable for such currencies to expand to become fully convertible competitors to state-sponsored currencies. JEL Classification: D42, E4, L51 Bank Classification: bank notes, economic models,...