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Indeed, the specification of equilibrium in the world economy depends on the exchange rate regime and thus, the early … foreign exchange markets. However, the world has known several exchange rate systems beginning with the fixed-gold standard … exchange was deregulated, independent traders finally had access to the biggest trading market of the world; and these forex …
Persistent link: https://www.econbiz.de/10005619306
perspectives, following the recent developments of the Marxist theory of world money. The paper treats the US Dollar as a primus … inter pares quasi-world money and challenges the argument of the US hegemony by exploring the behavior of major capitalist … hierarchical structure of the corresponding quasi-world moneys. Although part of a vast literature on international reserves, the …
Persistent link: https://www.econbiz.de/10011251891
The trading between currencies in Islam when both parties’ responsibilities are postponed to the future has been regarded as non-halal or un-islamic. Since there are many controversies in the area of currency, there have been suggestions to enhance investments in gold to avoid the element of...
Persistent link: https://www.econbiz.de/10011185385
Investment in gold has been in demand for the past few years especially in hedging strategies. At the same time, various calls for gold to go back to its historical function even before the coming of Islam have been popular among Islamic scholars due to its characteristic of having intrinsic...
Persistent link: https://www.econbiz.de/10011185386
An exchange rate between two currencies can be materially affected by shocks emerging from a third country. A US demand shock, for example, can affect the exchange rate between the euro and the yen. Since positive US demand shocks have a greater positive impact on Japanese interest rates than on...
Persistent link: https://www.econbiz.de/10011111112
world known as the Pax Americana. Nowadays, the weakness of the US dollar is making specialists wonder if we are witnessing …
Persistent link: https://www.econbiz.de/10005789886
Abstract This is the 2008 Edition of one of only two book in print in the world about the Single Global Currency, and … is the only book in the world priced in 141 currencies (down from 147 in the 2006 edition.).This number is significant … the world - trillions. The multicurrency foreign exchange trading system was developed about 2,500 years ago to enable …
Persistent link: https://www.econbiz.de/10005835646
This paper examined the long run and short run interactions between stock prices and exchange rate in Nigeria based on a sample from 1st February, 2001 to 31st December, 2008. Three models were derived from the sample, albeit pre-crisis, crisis and basic models. The paper set out by testing the...
Persistent link: https://www.econbiz.de/10005836102
This paper tries to find out, whether the Covered Interest Rate Parity (CIRP) theory was valid for exchange rate CZK/EUR during the period ranging from May 2001 to November 2007. As a main tool, a common OLS regression was chosen. It was augmented by MA(1) process of residuals and by ARCH (6)...
Persistent link: https://www.econbiz.de/10005836334
The paper delineates the properties and specificities of modern Croatian money-market transactions and their transition as well as the Solutions applied in this segment by the Republic of Croatia from the moment of declaration ofits in dependence up to nowadays. Such a contemporary monetary...
Persistent link: https://www.econbiz.de/10005836396