The article describes the work undertaken by the BIS in 1998 and earlier on "electronic money". (Annotated text, based on a presentation made at the Conference "on "Trends in Electronic Commerce", Hamburg, Germany, 8th June 1998", published at the time at vsis-www.informatik.uni-hamburg.de;...

Demand for lotteries has been estimated in several countries, an important issue being whether operators set lottery payouts optimally. The question is tackled by means of a traditional demand equation in effective price and recently by a demand equation variant in jackpots, both specifications...

One distinct change in Malaysians’ food consumption behavior has been the preference towards meat products. The entire agri-food industry is impacted by changes in food consumption behaviors. This study attempts to provide a better understanding of meat consumption behaviors, by estimating...

With Malaysian government plan to increase production of beef and open the beef market to more abattoirs from other countries, domestic beef market has become more challenging. The domestic beef market is postulated to be available in a variety of qualities in future. Consumers do not only make...

Our concern in this paper is to analyze the optimal long-run pricing policies of oil-exporting countries. These might be described briefly as the policies which best meet their objectives, subject to the various limitations imposed on them by the realities of world economic forces.

This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation Search Index (GISI) is assessed relative to 37 other...

As well as providing an analysis of how financial stability could be sustained through the appropriate targeting of policy instruments at debt gearing, this paper aims to provide an overview of the respective roles which governments and shareholders could assume in deterring financial...

This paper was written as the first draft of the invited Foreword for the book, Money and the Economy, by Apostolos Serletis. The paper provides a critical view of those areas in which methodology in economics deviates from that in the physical sciences, provides examples and illustrations of...

The current financial crisis followed the “great moderation,” according to which the world’s central banks had gotten so good at countercyclical policy that the business cycle no longer existed. As more and more economists and media people became convinced that the risk of recessions had...

The Federal Reserve has responsibilities in three functional areas: Bank supervision and regulation, monetary policy, and services to the payments system. Although much has changed in each of these areas since the Fed was founded nearly one hundred years ago, the Federal Reserve System has...