The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union or a system of fixed exchange rates than a monetary...

In an endowment economy, we analyze coexistence and competition between traditional fiat money (Dollar) and cryptocurrency (Bitcoin). Agents can trade consumption goods in either currency or hold on to currency for speculative purposes. A central bank ensures a Dollar inflation target, while...

The public sector, in carrying out its operations, often incurs foreign currency denominated liabilities and, as such, is exposed to exchange rate fluctuations that could affect the value of public debt to GDP ratios over time. This paper shows that converting foreign currency denominated flows...

The constitutional Dollar was a silver coin. Federal and state paper moneys were unconstitutional, and gold and copper coins were not Dollars. Consequently, notable constitutional originalists claim any Dollar not constructed from silver – including the current widely circulating paper Federal...

The Trans-European Automated Real-Time Gross settlement Express Transfer system (TARGET) imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in theory it is more of an...

The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union or a system of fixed exchange rates than a monetary...

The current ruble crisis causes much trouble for many of those eastern European countries like Russia and its neighbour countries: Strong ruble depreciation and high inflation for consumer goods are its most negative consequences. Because the ruble is only a national currency, but not a world...

This paper discusses within a common analytical framework the logical and analytical links between theories of exchange rate crises that model the abandonment of a peg as an optimizing decision by rational policy makers, and theories that focus on the dynamics of speculative attacks when...

With the recent economic crisis of 2008, global liquidity increased tremendously which in return, gave rise to the concerns regarding the “Currency Wars” due to consecutive monetary expansions conducted by both advanced and emerging countries. This paper, on the one hand presents the related...

An examination and close observation of currency exchange fluctuations in Iran reveals that over the years, problems and crises have occurred in connection with the exchange rate, which have brought about complications in the country’s currency exchange market and hence the economy. Such...