Precedent studies have designed a novel financial mechanism ensuring others access and exploit intellectual capital while protecting the right holder’s profit. By the mechanism, the national central bank would fund the generation and adoption of intellectual capital, e.g., a license fee, and...

There has been a longstanding concern about protecting intellectual capital, particularly patenting innovations to accelerate our scientific endeavors. Patents allow an inventor to recoup past investment, raising incentives for the following innovations and to facilitate technology transfer...

The previous studies have designed a novel financial mechanism ensuring others access and exploit intellectual capital while protecting the right holder’s profit. By the mechanism, the national central bank would fund the production and implementation or adoption of intellectual capital, e.g.,...

This paper evaluates the conduct of monetary policy in Hungary using standard Taylor rules as well as extended rules that incorporate real exchange rate effects. Moreover, we explicitly consider the impact of future euro area entry by estimating instrument rules that permit an influence from...

Public pension funds are, by far, the world's preeminent asset owners, with more than $ 25 trillions in combined assets. The largest pension funds are found in the United States, Canada, Australia, Japan, the Netherlands and the UK ("pension superpowers"). How they are managed, their funding...

The rapid rise of private asset markets has been one of the most remarkable phenomena in the institutional investment space since the start of the Great Recession (2008 – 2014). This trend is contributing to a pro-found transformation of the financial ecosystem as a whole. This unprecedented...

World Pensions Council cofounders Vincent Bazi and M. Nicolas J. Firzli analyse the rise of natural gas as a new asset class for pension and sovereign fund stakeholders in light of the geo-institutional dynamics underpinning asset allocation and investment decisions in an era of macroeconomic...

This essay places the second version of the blueprint for the Intellectual Property Currency (IPC), in which we have updated the first one with more detailed descriptions in depth. The IPC would be issued by the International Central Bank for Intellectual Property (ICB/IP) upon request when the...

Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...

This study focuses on the implications of current account deficit upon the external debt increase in Romania, revealing higher risks for the sustainability of its international financial position. Considering the trade deficit as a main cause of current account balance deterioration, several...