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requirements for successful currency regimes, in particular requirements for exchange rate stability. In addition, it aims at …
Persistent link: https://www.econbiz.de/10005101913
constructed gravity-based contagion index to assess the importance of these factors in the run-up to currency crises. Using a … robust indicator, reducing the probability of currency crisis for advanced economies, but less so for EMEs. Second, surges in … gross (but not net) capital inflows in general increase the risk of a currency crisis, but looking at a disaggregated level …
Persistent link: https://www.econbiz.de/10010757284
Developers of new banknotes can optimise banknote design by making use of public feedback, strategic communication policy, a design philosophy and the stakeholders' approach reflected in a Programme of Requirements. The synthesis of these four elements will lead to new design concepts for...
Persistent link: https://www.econbiz.de/10010756020
The visually impaired are divided in three subgroups: colour-blind, partially sighted and blind people. Their first needs are useful denomination features rather than security features, as they help them in determining a banknote's value. This study provides a historical overview of banknote...
Persistent link: https://www.econbiz.de/10010756024
Two stakeholders of banknote design are discussed, retailers and the general public. A retailer on average receives around 120 banknotes a day. A security check should be effected in less than two seconds and avoid discussion with the client. A private person on average receives one or two...
Persistent link: https://www.econbiz.de/10010756029
This paper addresses two important, but distinct, issues in monetary policy. The first issue concerns regional influences on voting within a monetary policy committee. In a committee that includes representatives from different regions or countries, is there a regional element to the monetary...
Persistent link: https://www.econbiz.de/10005101829
In the run-up to EMU, academic economists generally concluded the EU as a whole was not an optimum currency area (OCA … on optimum currency areas to clarify the concept of structural convergence in the context of monetary integration. In …
Persistent link: https://www.econbiz.de/10005106743
This paper examines the trade-off between exchange rate stability and monetary autonomy for a target zone. Using the guilder-mark target zone in the pre-EMU period as a case study, we empirically estimate how much policy discretion the Dutch central bank still enjoyed and how much had been ceded...
Persistent link: https://www.econbiz.de/10005106747
We analyse the optimal composition of a federal or supra-national committee. The representation of regional (national) entities in federal committees is typically motivated by their superior knowledge of local conditions. Using this argument, we formally model the optimal composition of a...
Persistent link: https://www.econbiz.de/10005106751
The IMF provides loans to countries in financial distress at a relatively low interest rate. In this article we calculate how much the seven largest debtors to the IMF have saved on interest payments during the Asian crisis and its aftermath. We explain how the IMF can charge these low interest...
Persistent link: https://www.econbiz.de/10005106758