The subject of our study is market liquidity, which is an important element of the functioning of financial markets. Adequate liquidity of markets is of great significance from the point of view of both market participants and the central bank. On the one hand, of all market segments an...

In this article we offer a principally new method of brand valuation. Let’s mention the bounds of application of this approach. The method can be used for the companies which have the brand, the mature market of the common shares and the market of share depositary receipt. The core of the...

This study analyses the dynamics of integration among global financial markets in the context of Global Financial Crisis (2008) by employing a Panel Vector Autoregressive (VAR) model on the monthly data of nine countries and three markets from Jan 2003 to Oct 2015. It was found that there has...

This study investigates the determinants of Bitcoin exchange rate over the period Feb. 2013-Apr. 2016 within a VAR framework. We are mainly driven by the narrow knowledge of this high volatile cryptocurrency's behavior. We ask the question how and to what extent the overall credit and liquidity...

In this paper, we conduct an analysis of the implications of capital controls for financial stability. We study a financial transaction (Tobin) tax applicable to cross-border capital flows in a multi-good, multi-country dynamic equilibrium model with incomplete financial markets and...

In this paper, we study the mechanisms that govern price stability of MakerDAO's DAI token, the first decentralized stablecoin. DAI works through a set of autonomous smart contracts, in which users deposit cryptocurrency collateral, typically Ethereum, and borrow a fraction of their positions as...

We study carry trades in the cryptocurrency market and document that the lack of sufficient arbitrage capital in combination with highly levered speculators creates ample carry opportunities. We find that carry in bitcoin, as measured by the funding rate of BTC/USD perpetual swaps, resembles...

In the study the cross-correlations between the cryptocurrency market represented by the two most liquid and highest capitalized cryptocurrencies: bitcoin and ethereum versus traditional financial markets: stock indices, Forex, commodities are measured in the period: Jan 2020 - Jul 2022. By...

The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In section two the functions, benefits, and costs of a leading international currency are discussed. In section three key determinants for the continuous dominance of the US dollar...