Synthetic money

N.V. Hovanov, J.W. Kolari, M.V. Sokolov

Результат исследований: Публикации в книгах, отчётах, сборниках, трудах конференцийстатья в сборнике

Выдержка

The main purpose of this paper is to provide a methodology for constructing synthetic money. We define synthetic money as a currency basket whose composite value closely mimics the value of a single currency but does not contain this currency. We begin by reviewing two currency indexes proposed by Hovanov, Kolari, and Sokolov (HKS) (2004): (1) a currency invariant index (denoted NVal), and (2) an optimal currency basket (or stable aggregate currency denoted SAC) that has minimum variance for a fixed set of currencies and for a fixed period of time. These currency index concepts are used to solve the problem of finding a currency basket with maximum correlation with the U.S. dollar. We also report empirical results for a synthetic dollar composed of six currencies. Other types of synthetic money could be readily constructed using these methods. Finally, we discuss the practical significance of synthetic money in terms of a number of potential real world applications, including currency pegging, global bonds, a
Язык оригиналане определен
Название основной публикацииde Gijsel P., Schenk H. (eds.). Multidisciplinary Economics: The Birth of a New Economics Faculty in the Netherlands
ИздательSpringer
Страницы293-303
ISBN (печатное издание)0-387-26258-X
СостояниеОпубликовано - 2005
Опубликовано для внешнего пользованияДа

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Hovanov, N. V., Kolari, J. W., & Sokolov, M. V. (2005). Synthetic money. В de Gijsel P., Schenk H. (eds.). Multidisciplinary Economics: The Birth of a New Economics Faculty in the Netherlands (стр. 293-303). Springer.
Hovanov, N.V. ; Kolari, J.W. ; Sokolov, M.V. / Synthetic money. de Gijsel P., Schenk H. (eds.). Multidisciplinary Economics: The Birth of a New Economics Faculty in the Netherlands. Springer, 2005. стр. 293-303
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Hovanov, NV, Kolari, JW & Sokolov, MV 2005, Synthetic money. в de Gijsel P., Schenk H. (eds.). Multidisciplinary Economics: The Birth of a New Economics Faculty in the Netherlands. Springer, стр. 293-303.

Synthetic money. / Hovanov, N.V.; Kolari, J.W.; Sokolov, M.V.

de Gijsel P., Schenk H. (eds.). Multidisciplinary Economics: The Birth of a New Economics Faculty in the Netherlands. Springer, 2005. стр. 293-303.

Результат исследований: Публикации в книгах, отчётах, сборниках, трудах конференцийстатья в сборнике

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Hovanov NV, Kolari JW, Sokolov MV. Synthetic money. В de Gijsel P., Schenk H. (eds.). Multidisciplinary Economics: The Birth of a New Economics Faculty in the Netherlands. Springer. 2005. стр. 293-303