the central bank. This allows the central bank to create a crawling-peg exchange rate between paper currency and … electronic money; the paper currency interest rate can be either lowered below zero or raised above zero. Such an ability to vary …There has been much discussion about eliminating the 'zero lower bound' by eliminating paper currency. But such a …

stability of invoicing currency patterns. The evidence also points to several novel facts. First, both the US dollar and the … has declined. Second, the euro is used as a vehicle currency in parts of Africa, and some European countries have seen … significant shifts toward euro invoicing. Third, as suggested by the dominant currency paradigm, countries invoicing more in US …

This paper examines opposing views on the euro''s challenge to the dollar as an international currency. One view … also show the euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size …

the U.S. dollar), severely restricting their ability to create money and affect output, prices, or government revenue … optimal allocations. Implications for a currency union in Europe are discussed …

The paper shows how-in a Merton-type model with bankruptcy-the currency composition of debt changes the risk profile of … a company raising a given amount of financing, and thus affects the cost of debt. Foreign currency borrowing is cheaper … ""natural hedges"" of their foreign currency exposures …

comprehensive framework for sustainable money solutions in support of social assistance. The framework consists of eight building … blocks that may help policymakers i) take stock and assess emergency fixes taken to scale up mobile money in a crisis context …