Concept

Foreign exchange reserves

Related publications (22)

Tiers of joy? Reserve tiering and bank behavior in a negative-rate environment

Negative interest rate regimes typically involve reserve tiering to exempt a portion of bank reserves from negative rates. We study the effects on bank behavior of a large and unanticipated change in reserve tiering by the Swiss National Bank that generate ...

2024

Circularity by stock in Sri Lanka: Economic necessity meets urban fabric renovation

Paolo Tombesi, Milinda Pathiraja

Persistent fiscal and political mismanagement, together with the financial pressures of the COVID-19 pandemic, have driven Sri Lanka into a social and economic crisis triggering a decrease in national foreign exchange reserves, an inability to purchase vit ...

FRONTIERS MEDIA SA2023

Long-Distance Coherent Propagation of High-Velocity Antiferromagnetic Spin Waves

Jean-Philippe Ansermet, Haiming Yu

We report on coherent propagation of antiferromagnetic (AFM) spin waves over a long distance (similar to 10 mu m) at room temperature in a canted AFM alpha-Fe2O3 owing to the Dzyaloshinskii-Moriya interaction (DMI). Unprecedented high group velocities (up ...

AMER PHYSICAL SOC2023

Steel Pipes and Global Networks: The Influence of Dalmine S.p.A in Shaping Resource Extraction Infrastructures

Anna Karla De Almeida Milani

Pipelines for extracting oil, gas, water, and supporting energy systems are part of the infrastructure of extractive sites, especially marked in countries with less urbanized areas. Throughout the twentieth century, such regions were influenced by economic ...

2023

Monetary Independence And Rollover Crises

Jorge Mondragon Minero

This article shows that the inability to use monetary policy for macroeconomic stabilization leaves a government more vulnerable to a rollover crisis. We study a sovereign default model with self-fulfilling rollover crises, foreign currency debt, and nomin ...

OXFORD UNIV PRESS INC2022

Dominant currency debt

Semyon Malamud

We propose a “debt view” to explain the dominant international role of the dollar. Within a simple capital-structure model with debt-currency choice, we show that the “dominant currency” is the one that (1) depreciates in global downturns over horizons of ...

2022

Exchange Rate Analysis by Nonlinear Time Series Method

Maria-Alexandra Paun

A financial data analysis using the time series method has been performed. At the same time a correct interpretation of daily exchange rates fluctuations, for Eur foreign currencies is presented. The fractal dimension evaluation has been performed using th ...

AMER INST PHYSICS2020

Three Problems of Liquidity under Asymmetric Information

Sylvain Jean Pascal Carré

This thesis develops models for three problems of liquidity under asymmetric information. In the chapter "Disclosures, Rollover Risk, and Debt Runs" I build a model of dynamic debt runs without perfect information in order to understand the impact of asset ...

EPFL2019

Three Essays in Banking and Finance

Damien Olivier Klossner

This thesis develops three models that study the motivation of various agents to take on debt, and the impact that excessive financial leverage can have on social welfare. In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...

EPFL2019

Why Does Fast Loan Growth Predict Poor Performance for Banks?

Rüdiger Fahlenbrach

From 1973 to 2014, the common stock of U.S. banks with loan growth in the top quartile of banks over a three-year period significantly underperformed the common stock of banks with loan growth in the bottom quartile over the next three years. After the per ...

2018

Quantifying the Benefits of Labor Mobility in a Currency Union

Unemployment differentials are bigger in Europe than in the United States. Migration responds to unemployment differentials, though the response is smaller in Europe. Mundell (1961) argued that factor mobility is a precondition for a successful currency un ...

2018

Study of fast exchanging processes by NMR Spectroscopy

Estel Canet Martinez

Nuclear magnetic resonance (NMR) spectroscopy is one of the most powerful and informative methods to probe molecular dynamics. Specifically, chemical exchange is an important phenomenon and one of the earliest and most vigorously investigated in NMR spectr ...

EPFL2017

Developing Offer Curves for an Electric Railway Company in Reserve Markets Based on Robust Energy and Reserve Scheduling

Sidi-Rachid Cherkaoui, Mokhtar Bozorg, Ali Ahmadi Khatir

This paper proposes an appropriate offering strategy method for an electric railway company (ERC) to participate in reserve markets. In this respect, first the problem of energy and reserve scheduling for the ERC is modeled in a deterministic way. Next, a ...

IEEE Institute of Electrical and Electronics Engineers2016

Scarcity Mitigation and Risk-Averse Clearing Model in the Swiss Reserve Market

Sidi-Rachid Cherkaoui, Farzaneh Abbaspourtorbati

This paper presents a real-world application of stochastic programming in the Swiss hydro-based system. The seasonal hydrological conditions may cause insufficient market volume to an extent that security criteria (i.e., the criteria determining of reserve ...

Ieee2016

Essays in Dynamic Corporate Finance

Francesca Maria Zucchi

This thesis examines the effects of financing frictions on corporate decisions using dynamic models. Accounting for financing frictions helps reconcile a number of regularities that are hard to explain within the Modigliani-Miller framework. For instance, ...

EPFL2015

Liquidity in the Foreign Exchange Market: Measurement, Commonality, and Risk Premiums

Loriano Mancini

We provide the first systematic study of liquidity in the foreign exchange market. We find significant variation in liquidity across exchange rates, substantial illiquidity costs, and strong commonality in liquidity across currencies and with equity and bo ...

Wiley-Blackwell2013

Digging out the PPP hypothesis: an integrated empirical coverage

We use several popular tests to test the validity of the Purchasing Power Parity (PPP) hypothesis. In particular, we analyze four classes of tests-standard univariate unit root tests, co-integration, panel unit root tests, and unit root tests for nonlinear ...

Springer Verlag2012

Updating existing railway bridges based on monitoring data

Eugen Brühwiler, Mark Anthony Treacy, Marina Rocha Pinto Portela Nunes

Due to the important direct and indirect costs of the intervention, more detailed examination methods based on data as obtained from monitoring is suggested. This paper reports on an ongoing study to examine the fatigue safety of one standard bridge type, ...

CRC Press/Balkema2012

Financial Markets Equilibrium with Heterogeneous Agents

Semyon Malamud

This paper presents an equilibrium model in a pure exchange economy when investors have three possible sources of heterogeneity. Investors may differ in their beliefs, in their level of risk aversion, and in their time preference rate. The authors study th ...

Oxford University Press2012

Alignment of defect levels and band edges through hybrid functionals: Effect of screening in the exchange term

Alfredo Pasquarello, Peter Broqvist, Hannu-Pekka Komsa

We investigate how various treatments of exact exchange affect defect charge transition levels and band edges in hybrid functional schemes for a variety of systems. We distinguish the effects of long-range vs short-range exchange and of local vs nonlocal e ...

2010

Related publications (22)