Currency Unit Research Articles

On expenditure/income discrepancies in national accounts in the presence of two price units

This paper demonstrates that expenditure/income discrepancies appearing in national accounts are caused partly by the nominal distortion due to the presence of two price units, and partly by the real distortion due to the mismeasurement of expenditure items. In addition, it investigates how such statistical discrepancies reveal potentially important information about various informal, though not necessarily illegal, economic activities, which are not grasped fully by statistical or tax authorities in a central government. Three cases are explored in detail. First, after-consumption-tax prices are mixed with before-consumption-tax prices in aggregating expenditures. Second, black-market prices coexist with official prices in a heavily controlled economy. Third, prices are quoted in not only a conventional currency unit, but also a more valuable cryptocurrency unit; however, the latter unit is still evaluated one to one with the former. Unlike in macroeconomic disequilibrium models, statistical discrepancies are not ex ante concepts, but they actually occur ex post. This paper examines how ex post excess demand/supply within the formal economy, resulting from such discrepancies, is adjusted by monetary and nonmonetary interactions with the informal or underground economy.

Impact of India’s Demonetization Episode on its Equity Markets

Demonetization is an act of divesting a currency unit from its legal tender. In a developing country, the act of demonetization will have a direct influence on various sectors. An event study is an empirical analysis to investigate the effect of such unforeseen events. In this study, we investigate the impact of demonetization on the Indian stock market. For the analysis, daily data from the NIFTY 50 Index during demonetization have been analyzed within the observation of different event windows. These event windows are framed as 0–7 days, 0–14 days, and 0–30 days to understand the impact of demonetization during the analysis period 8th November 2016–21st December 2016. The study concludes that the impact of events on the Indian stock market lasted for a short time-period and the market recovered within 1 month. More precisely, in the case of demonetization, though the stock market initially viewed the event as disruptive, Cumulative Abnormal Returns bounce back to indicate that the negative financial impact was not as severe as the industry perceived.

Pengaruh Laba Kotor, Laba Operasi dan Laba Bersih dalam Memprediksi Arus Kas di Masa Mendatang Pada Perusahaan Manufaktur

This study aims to provide empirical evidence on gross profit, operating profit and net income by testing each variable to predict cash flow. The research subjects are manufacturing companies listed on the Indonesia Stock Exchange in 2019, using Indonesian rupiah currency units in their financial statements and companies that do not experience losses by disclosing and providing the necessary data. The method of selecting the subject of this research is to deliberately take a sample of 45 companies. The analysis model used in this research is multiple linear regression analysis model with the help of Eviews 10 program. The results showed that gross profit has a significant positive effect on cash flow, while operating profit and net profit have no significant effect on cash flow. However, gross profit, operating profit, and net profit also have the ability to predict cash flow. Based on the results of the determinant test, sufficient coefficients are calculated so that the selected model can be used as a future cash flow forecasting model.

Pengaruh Komisaris Independen, Pajak Tangguhan dan Laba Bersih Terhadap Manajemen Laba dengan Tax Avoidance sebagai Variabel Intervening pada Perusahaan Sub Sektor Makanan & Minuman di Bursa Efek Indonesia Periode 2015 – 2019

This study is to look at the influence of independent commissioners, deferred tax and net profit on earning management with tax avoidance as intervening variables in food and beverage sub-sector companies in the Indonesia Stock Exchange period 2015 – 2019. The research samples used are sub-sectors of food and beverages on the Indonesia Stock Exchange during the 5-year observation period starting from 2015 – 2019. There are 27 companies, which have complete financial statements and which have complete research indicator reports in the annual financial statements during the research period of 17 companies, and which use rupiah currency units as many as 16 companies and which have a positive net profit during the research period of 11 companies. This study uses purposive sampling and data analysis techniques using microsoft Excell and SPSS 22.0 software. path analysis. The results showed that; 1) Independent variables independent commissioner, deferred tax and net income against tax avoidance simultaneously all free variables affect bound variables while partially nothing affects the variable tax avoidance. 2) independent variable independent commissioner variables, deferred tax and net profit to earning management, simultaneously all free variables have a significant effect on bound variables whereas partially only net profit variables affect profit management variables.. 3) Tax avoidance variables have no effect on earning management variables. 4) Independent commissioner variables, deferred taxes and net income on profit management with tax avoidance as intervening variables have a total influence of 1.277%, which is greatly influenced including weak.

What happens to investment choices when interest rates change? An experimental study

We study experimentally how subjects react to changes in interest rates. Our participants were asked to divide 1,000 units of currency between two assets – one risky and the other risk-free – in four different settings. We use different treatments to change the risk-free rate while keeping the risk premium constant. We find that risk-free rates affect risk allocation asymmetrically: subjects increase the risky portion in their portfolios in response to a decrease in rates. Still, they do not change their portfolios when rates rise. Furthermore, this asymmetric effect occurs only when interest rates remain constant over a relatively long duration; when they are volatile, their impact on risk allocation is reversed. We provide and test a behavioral explanation for these findings.

Perbandingan Metode Moving Average dan Exponential Smoothing pada Peramalan Nilai Tukar Rupiah terhadap Dollar AS

The currency exchange rate or known as the exchange rate is the price of one unit of foreign currency in the domestic currency or can be referred to as the currency exchange rate against current or future payments between the two currencies of each country or region. The exchange rate of a country's currency is strongly influenced by the flow of capital between countries. The Indonesian economy is heavily influenced by the international economy so that the Rupiah exchange rate is very much needed by the community in their economic life. Exchange rate data has very high volatility and tends not to be stationary. This study discusses the forecasting of the Rupiah exchange rate against the Dollar AS with two methods, namely Moving Averages and Exponential Smoothing. Accuracy analysis using Mean Absolute Deviation (MAD) and Mean Squared Error (MSE) methods. The software used in this research is the Quantitative Method (QM 5.3) software. The results of the study explain that the most appropriate forecasting method is used in analyzing the data. The Exponential Smoothing method forecasts the exchange rate of the Rupiah against the US Dollar with = 1.0 for January 1, 2022, which is Rp. 14,278 with MAD worth 29,105 and MSE worth 1564,619

Digital currency unit as a form of payments

Digital currency unit as a form of payments

The Effect of E-wallet and Sales Promotion on Purchasing Decisions

E-wallet is an electronic device, online service, or software program that allows one party to make electronic transactions with another party bartering digital currency units for goods and services. This can include purchasing items on-line with a computer or using a smartphone to purchase something at a store. Currently in Indonesia there are many kinds of E-Wallets including; DOKU, BBM money bank Permata, cash XL, Telkomsel T-Cash, CIMB Niaga Mobile Account, and so on. One example of an E-wallet is Gopay, inaugurated in April 2016 that can be used in all payment transactions in the Gojek application. This study aims to investigate the effects of E-wallet and Sales Promotion of Hop Hop Purchasing Decisions among high school students in the city of North Jakarta. This is explanatory research using probability sampling method and using a questionnaire on Google Form for collecting data. The sample used is 100 respondents from high school students who use the GOPAY electronic wallet to buy Hop Hop in the city of North Jakarta. This research uses quantitative analysis: validity, reliability, classic assumptions, correlation coefficient, determination coefficient, simple and multiple linear regression, hypothesis significance of t test and F test. The results of multiple linear regression analysis show that there was an effect of E-wallet and Sales Promotion on purchasing decisions. The variable correlation coefficient of the use of E-wallet and Sales Promotion on the GOPAY E-wallet has a strong relationship. The coefficient of determination of the variable using E-wallet on the Purchasing Decision variable is 59.4%, and the coefficient of determination of the Sales Promotion variable on the Purchasing Decision variable is 43.1%.

The Law of Instant Equality of the Purchasing Power of Money

The article proves effectiveness of the law of instant equality of money unit buying capacity. It is shown that the law explains the phenomenon of money unit arising as a value measure and, consequently, grounds the unity of money arising principles as virtual value measure and real measures, i.e. physical quantities. The author analyzes historical evolution of money types and provides arguments that it is underlain by changing methods of fixing the money unit buying capacity. It is demonstrated that the quality of money units and, thus money systems, changes, when the method is altered. It is stated that the phenomenon of arising a unique buying capacity of all money units of the national currency at any moment of time possesses the same character as the method of providing the unity of measuring physical quantities. Consequently, the author comes to the conclusion that money units acting as a cost value should obey the basic principles of science dealing with measurements, i.e. ‘metrology’. The article grounds that methods providing the unity of value measuring through money, as well as methods providing the unity of measuring physical quantities correlate with the level of available technological possibilities. It could be concluded that due to the correlation requirement a new type of virtual money with constant buying capacity or ‘virtual gold’ will come into being. It is underlined that virtual gold can be used only within the frames of a brand new, i.e. bi-currency money system. It is characterized by simultaneous functioning of traditional paper money and previously unknown money with constant buying capacity.

Extreme Weather Events Differentially Impact Retail Food Prices: Evidence from Early Warning Systems

ObjectivesThis study aims to study the sensitivity of retail food prices to a suite of extreme weather events including floods, droughts, storms, heatwaves, and coldwaves. We hypothesize that extreme weather events are associated with higher retail prices of perishable food groups due to higher transportation and storage costs. MethodsMonthly retail prices for 2000–2021 were extracted from the FAO Global Information and Early Warning System, the USAID Famine Early Warning System Network, and the WFP Vulnerability Analysis and Mapping database. All local currency units were adjusted to 2017 USD. Foods were assigned to one of eight categories and matched to food composition tables to derive units of 2017 USD/1000 kg and 2017 USD/1000 kCal as purchased. Gridded data were spatially matched to each market location and month of price observation. Temperature anomalies were extracted from the Terraclimate dataset using thresholds of 2 SD and –2 SD to define heatwave and coldwave respectively. Tropical cyclones were extracted from the International Best Track Archive for Climate Stewardship database using a minimum of at least one Category 3 event in the month of observation. Standardized Evapotranspiration Index values of –1.5 and 1.5 were used to define Drought and Flood conditions respectively. OLS regressions with fixed effects for market-region, market-month, and market-year were implemented. All effects were studied with respect to a reference category of Breads and Cereals. Additional covariates included average temperature, precipitation, and vegetation. Results1,346,513 observations from 2321 markets in 71 countries were included in this analysis. Heterogenous effects are observed across extreme events and food groups. Notably, storms are associated with a 26% increase of adjusted prices for Fruits and Vegetables and a 11% increase in adjusted prices of Pulses Nuts and Seeds indicating critical supply reductions. ConclusionsExtreme weather events differentially impact perishable and non-perishable foods. Observed effects can inform nutrition-sensitive planning for climate adaptation and mitigation. Funding SourcesThis work was partially funded by the Feed the Future Innovation Lab for Sustainable Intensification through the United States Agency for International Development under Cooperative Agreement No. 720-OAA-18-LA-003 AID-OAA-L-14–00,006.

The Economics of Consensus in Algorand

In the paper we investigate consensus formation, from an economic perspective, in a Proof-of-Stake (PoS) based platform inspired by the Algorand blockchain. In particular, we consider PoS in relation to governance, focusing on two main issues. First we discuss alternative sampling schemes, which can be adopted to select voting committees and to define the number of votes of committee members. The selection probability is proportional to one’s stake and increases with it. Participation in governance allows users to affect the platform’s decisions as well as to obtain a reward. Then, based on such preliminary analysis, we introduce a microeconomic model to investigate the optimal stake size for a generic user. In the model we conceptualize an optimal stake, for a user, as striking the balance between having Algos immediately available for transactions and setting aside currency units to increase the probability of becoming a committee member. Our main findings suggest that the optimal stake can be quite sensitive to the user’s preferences and to the rules for selecting committees. We believe the findings may support policy decisions in PoS based platforms.

CRYPTOCURRENCY SECURITY

Security and privacy are two conditions that are closely linked to current trends in cryptocurrency, and this study offers a similar comprehensive review. Cryptocurrency adds security to transactions and controls the formation of additional currency units. Great growth for cryptocurrency market testing leads to the misuse of failures to benefit enemies. In this study, the review was designed to focus on safety and security standards of cryptocurrencies especially in Bitcoin. This study explains cryptocurrency agreements, their benefits, and communications within the framework

Impacts of Demonestation on Kashmir in Contrast to Rest of India

Demonetisation means withdrawing or stopping a currency denomination of its status as a legal tender. Demonetisation refers, therefore, to the process of deciding that certain coins and banknotes can no longer be exchanged for goods and services. There are multipurpose reasons to demonetise their local units of currency. Some reasons include to curbing corruption, Blackmoney, Eliminating counterfeit currency and terrorism funding. Alongside, the move aimed at the promotion of cash less economy mainly through digitisation. The process of demonetisation includes either introducing new notes of the same currency or completely replacing old currency with new currency. Indian government formally announced of demonetisation of highly currency denomination notes of Rs.500 and Rs.1000 worth nearly 15.4 trillion, constituting about 87% of the currency in circulation, formally took place on November 8 2016. As the rest of country remains in a turmoil due the demonestistion but people in kashmir have accepted the move without any panic. the people in kashmir choosing to deposit money in banks after the eruption of militancy in the valley, PDP-BJP coalition government has revealed in the Economic survey report 2016

Hornolužický měnový systém počátkem 40. let 16. století

The article deals with the issue of a real circulating coins and accounting units used at the beginning of the 1540s in the Upper Lusatia. As a main source served the account books of the Vienna Court Chamber from 1543–1544. They preserve both the conversion of the purchasing power of the coins used by the Upper Lusatian estates and towns to pay the tax obligation for the military campaign against the Turks, as well as the conversion of the monetary units used in the payment system of Upper Lusatia at that time. This documentation shows that the Upper Lusatian Mark, which was divided into 48 small groats, was the equivalent to 56 kreuzers in the Austrian currency. The second main unit of currency was the Upper Lusatian Gulden, which was converted into the main Austrian unit of currency, the “Rhenish guldens”, at the rate of 14 Rhenish guldens = 15 Upper Lusatian Guldens. At Upper Lusatia of that time, the silver thaler was worth 63 Upper Lusatian small groats (70 kreuzers) and the Hungarian gold ducat valued 93 Upper Lusatian small groats (105 kreuzers). The gradual unification of monetary units in all the Lands of the Bohemian Crown and in the Habsburg Hereditary Lands cannot be traced earlier than after 1547.

Cryptocurrency: Concept and Associated Aspects

A cryptocurrency can be seen as an encoded data string which can be used as a unit of currency or its equivalent. In recent years, we have seen that cryptocurrency has emerged as a buzz word and everybody is talking about it. In this paper, an introductory view of cryptocurrency is given along with basic concepts and associated terms. The knowledge of the above-mentioned terms is very important in modern aspects as it is a buzz word today and many jobs are being created in this particular area.

DEMONETIZATION AND ITS IMPACT ON BANKING INDUSTRY

Demonetization is an act of stripping a currency unit of its status as a legal tender. In simple words, demonetization is the process by which the demonetized notes cease to be accepted as legal currency for any kind of transaction. After demonetization, the old currency is replaced by a new currency, which may be of the same denomination or may be of a higher denomination. Demonetization is done by a country for various reasons. In India Demonetization happened three times. First time it happened in the year1946 and then in the year 1972. Third time it happened on 8 Nov 2016. It affected many sectors of the nation but banking sector was the most affected one as it was the main channel through which whole economic process had moved on. It was assumed that banking sector had an edge over the rest during the entire exercise of demonetization. It becomes necessary to understand Demonetization effect on banks financial performance as banks financial performance directly related to a country’s economic growth. The present study is made out of available literature on post demonetization. It illustrated how the demonetization affected the banking industry.

The Eurco – An ECU in the making?

The European Investment Bank (EIB) was the first financial institution to test the markets with bonds denominated in ‘Eurcos’, a basket of all European Community currencies, loosely based on Member Countries’ share of GNP, in September 1973 and January 1974. This article aims to throw light on the circumstances of the creation of the Eurco, and establish EIB’s proactive role in promoting a new European monetary unit. The EIB was successful in raising the resources needed to finance its fast expanding lending activity, in a context of monetary instability. However, despite the fact that the Eurco concept was a precursor to the European Currency Unit (ECU) and was promoted by a prominent European institution, Eurco bond issues had limited influence on the course of events that led to the launch of the ECU, in 1979. The Eurco nonetheless helped consolidate EIB’s reputation as a ‘market-maker’ on the international financial markets, and prepared it to play a role in the creation of financial instruments for the promotion of the ECU.

A Mathematical Optimization Model for Maintenance Planning of School Buildings

This article presents a methodology to optimize the maintenance planning model and minimize the total maintenance costs of a typical school building. It makes an effort to provide a maintenance schedule, focusing on maintenance costs. In the allocation of operations to the school equipment, the parameter of its age was also taken into account. A mathematical optimization model to minimize the school maintenance cost in a three-year period was provided in the GAMS software with CPLEX solver. Finally, the optimum architecture of the Perceptron multi-layer neural network was used to predict the schedule of equipment operations and maintenance costs. The Multi-layer Perceptron (MLP) optimum neural network results, with minor Mean Squared Error (MSE) and Root Mean Squared Error (RMSE), indicated that the proposed model was capable of predicting the schools’ maintenance costs with high accuracy. According to the results, the school's maintenance cost for the intended three-year period based on the Weibull distribution was equal to 15361 currency units per hour, in which the “heating and cooling system” has the highest contribution. Hence, accurate and definite planning can prevent damages to such equipment, while saving the school's maintenance costs.

The Supervised Learning Model for Analyzing the Sportsperson Training Efficiency

The driving concept of students’ sports training involves a unique activity that is often tightly correlated to students’ efficiency and varies with the momentum of sports training. Supervised learning is one of the smart methods with positive results in the fields of classification techniques. Due to the excessive currency unit associated with sports, sports forecasting is a growing area that must be well predicted. Therefore, in this paper, sports training based on the supervised learning (STSLM) model has been proposed to evaluate and predict student sports efficiency. STSLM models are based on various variables, such as traditional student ratings, performance, and efficiency. The emphasis is on the efficiency of students predicting sports outcomes. STSLM defines evaluation methods, information sources, effective models for testing students’ sports training, and unique challenges to forecast sports outcomes. The experimental results have been performed. The suggested STSLM model enhances the efficiency ratio of 96.3%, injury prevention level of 98.2%, fitness level of 95.5%, evaluation ratio of 98.8%, and training optimization ratio of 97.2% compared to other existing approaches.

A Joint Optimization of Strategic Workforce Planning and Preventive Maintenance Scheduling: A Simulation–Optimization Approach

This paper proposes a Simulation–Optimization framework, where a maintenance system of high-value assets is modelled via a novel large-scale Discrete Event Simulation model. In contrast to the existing simulation models in the maintenance domain, the developed simulation model provides an integrated view of the different aspects of the maintenance system including asset acquisitions, maintenance workforce planning, and scheduling of preventive maintenance activities. Further, the workforce planning studies the technicians’ progression based on their allocated maintenance activities, and the trade-off between their progression and the recruitment of additional technicians, which is infrequently studied in this domain. The developed simulation model is coupled with a Differential Evolution (DE) algorithm, that is further enhanced with a K-means clustering machine learning method. By using this coupling (i.e., simulation-based optimization), we jointly optimize the scheduling frequency of preventive maintenance activities and workforce planning decisions (e.g., recruitment and career progression). The proposed framework proved its superiority in terms of representing the dynamics of the overall system, and providing optimal decisions about the workforce and maintenance schedules. A comprehensive study is proposed and showed the ability of the proposed framework to reduce the total maintenance cost on average of 5.6%, that is around three million currency units.