Related papers: Maastricht and Monetary Cooperation
The division of mandates to the European Parliament posed difficulties since the beginning of its operation. Introduction of the degressive proportionality principle to legal acts intensified further discussion on this subject. The…
We investigate the additivity properties for both bipartite and multipartite systems by using entropic uncertainty relations (EUR) defined in terms of the joint Shannon entropy of probabilities of local measurement outcomes. In particular,…
Focusing on different economic instruments implemented in intersection operations under a connected environment, this paper analyzes their advantages and disadvantages from the travelers' perspective. Travelers' concerns revolve around…
We develop a monetary macro accounting theory (MoMaT) and its software specification for a consistent national accounting. In our money theory money functions primarily as a medium of payment for obligations and debts, not as a medium of…
Economic unions are international agreements oriented to increase economic efficiency and establishing political and cultural ties between the member countries. Becoming a member of an existing union usually requires the approval of both…
Two fundamental issues are incorporated in the present monograph: the issue related to the quantification of the social costs and the issue, related to the defining of the circular economy concept as a theoretical model. The analysis is…
As digital goods and services become an integral part of modern day society, the demand for a standardized and ubiquitous form of digital currency increases. And it is not just about digital goods; the adoption of electronic and mobile…
This study examined the relationship between trade facilitation and economic growth among the middle-income countries from 2010 to 2020 using 94 countries made up of 48 lower-middle-income countries and 46 upper-middle-income countries. The…
This study aims to examine the challenges and applications of machine learning for financial research. Machine learning algorithms have been developed for certain data environments which substantially differ from the one we encounter in…
This paper explores a research question about whether defensive and offensive cyber security power and the capabilities to exercise the power influence the incentives of nation-states to participate in bilateral and multilateral cooperation…
This paper surveys the empirical literature of inflation targeting. The main findings from our review are the following: there is robust empirical evidence that larger and more developed countries are more likely to adopt the IT regime; the…
This paper discusses three key themes in forecasting for monetary policy highlighted in the Bernanke (2024) review: the challenges in economic forecasting, the conditional nature of central bank forecasts, and the importance of forecast…
The view that altruistic punishment plays an important role in supporting public cooperation among human beings and other species has been widely accepted by the public. However, the positive role of altruistic punishment in enhancing…
Borrowing constraints are a key component of modern international macroeconomic models. The analysis of Emerging Markets (EM) economies generally assumes collateral borrowing constraints, i.e., firms access to debt is constrained by the…
The governance of the political and economic world order builds on a complex architecture of international treaties at various geographical scales. In a historical phase of high institutional turbulence, assessing the stability of such…
This paper addresses decision-aiding problems that involve multiple objectives and uncertain states of the world. Inspired by the capability approach, we focus on cases where a policy maker chooses an act that, combined with a state of the…
A modern version of Monetary Circuit Theory with a particular emphasis on stochastic underpinning mechanisms is developed. It is explained how money is created by the banking system as a whole and by individual banks. The role of central…
As artificial intelligence (AI) technologies spread worldwide, international discussions have increasingly focused on their consequences for democracy, human rights, fundamental freedoms, security, and economic and social development. In…
It has proved to be difficult to translate the lessons from the literature on universal service into the policy framework because of political interests and regulatory capture. Neither the USA or Europe has made a very good job of devising…
Securitization has become prevalent in many countries, and has substantial impact on government monetary policy and fiscal policy which have not yet been adequately analyzed in the existing literature. This article develops optimal…