Related papers: Maastricht and Monetary Cooperation
In many economic contexts, agents from a same population team up to better exploit their human capital. In such contexts (often called "roommate matching problems"), stable matchings may fail to exist even when utility is transferable. We…
Across machine learning (ML) sub-disciplines, researchers make explicit mathematical assumptions in order to facilitate proof-writing. We note that, specifically in the area of fairness-accuracy trade-off optimization scholarship, similar…
By analyzing the foreign exchange market data of various currencies, we derive a hierarchical taxonomy of currencies constructing minimal-spanning trees. Clustered structure of the currencies and the key currency in each cluster are found.…
In recent years economic complexity has grown into an active field of fundamental and applied research. Yet, despite important advances, the policy implications of economic complexity remain unclear or misunderstood. Here I organize the…
In macroeconomics, an emerging discussion of alternative monetary systems addresses the dimensions of systemic risk in advanced financial systems. Monetary regime changes with the aim of achieving a more sustainable financial system have…
This short paper proposes a simple general equilibrium approach within a Markov-switching regime to explain how asymmetric information between lenders and speculators may lead to currency crises. The paper concludes by providing necessary…
We develop a model where currency issuers provide liquidity, while users in a trade network choose currency usage for trade settlement. We identify a feedback mechanism where a user's currency preference spillovers to others and increases…
In the current digital age of the Internet, with ever-growing networks and data-driven business models, digital platforms and especially marketplaces are becoming increasingly important. These platforms focus primarily on digital businesses…
Many proposals for the design and implementation of digital wallets assume that the purpose of the wallet is to enable offline payments via custodial accounts, ignoring the real problems faced by individuals and businesses that engage in…
On Jan. 1, 1999 the European Union introduced a common currency Euro ($EUR$), to become the legal currency in all eleven countries which form the $EUR$. In order to test the $EUR$ behavior and understand various features, the $EUR$ exchange…
Portfolio optimisation typically aims to provide an optimal allocation that minimises risk, at a given return target, by diversifying over different investments. However, the potential scope of such risk diversification can be limited if…
In a decentralized environment, exchanging resources requires users to bargain until an agreement is found. Moreover, human agreements involve a combination of collaborative and selfish behavior and often induce circularity, complicating…
Issues for transport facilities on the lunar surface related to science, engineering, architecture, and human-factors are discussed. Logistic decisions made in the next decade may be crucial to financial success. In addition to outlining…
As humans make ambitious efforts toward long-duration activities beyond Earth, new challenges will continue to emerge that highlight the need for governance frameworks capable of managing shared resources and technical standards in order to…
Recent discussion about the increase in international research collaboration suggests a comprehensive global network centred around a group of core countries and driven by generic socio-economic factors where the global system influences…
Machine translation (MT) plays an important role in benefiting linguists, sociologists, computer scientists, etc. by processing natural language to translate it into some other natural language. And this demand has grown exponentially over…
Existing protocols for multilateral negotiation require a full consensus among the negotiating parties. In contrast, we propose a protocol for multilateral negotiation that allows partial consensus, wherein only a subset of the negotiating…
This contribution to the proceedings of the Cracow meeting on `Applications of Random Matrix Theory' summarizes a series of studies, some old and others more recent on financial applications of Random Matrix Theory (RMT). We first review…
I characterize optimal government policy in a sticky-price economy with different types of consumers and endogenous financial constraints in the banking and entrepreneurial sectors. The competitive equilibrium allocation is constrained…
In this work, we consider the economics of the interaction between Mobile Virtual Network Operators (MVNOs) and Mobile Network Operators (MNOs). We investigate the incentives of an MNO for offering some of her resources to an MVNO instead…