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Money and Banking - Science topic

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The impact of monetary policy and bank rate on the performance of deposit money banks in Nigeria
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To conduct monetary policy, some monetary variables which the Central Bank controls are adjusted-a monetary aggregate, an interest rate or the exchange rate-in order to affect the goals which it does not control. Monetary policy affects aggregate demand and the level of economic activity by increasing or decreasing the availability of credit, which can be seen through decreasing or increasing interest rates. Monetary variable are the variables which are estimated based on the existing price such as nominal interest rate, nominal investment, government expenditure, and so on. In any case, Ewansiha OSARETIN Emmanuel , money does not behave neutral, with respect to the economy.
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Did the money that was printed and introduced into the economy during the Covid-19 pandemic and went into the capital markets, among other things, cause asset inflation in those markets, including the stock markets?
Did the significant amount of additional, printed, anti-crisis money that was injected into the economy during the Covid-19 pandemic and found its way into capital markets, among other things, pull stock market indexes upward and cause asset inflation in capital markets, including stock markets?
When there is a strong decline in the level of activity of economic entities, the rate of economic growth slows down, there is a risk of the emergence of a recession of the economy, a serious financial and/or economic crisis begins then the governments of individual countries, fearing a strong increase in unemployment, increase the scale of anti-crisis state interventionism, launch programs to activate the economic activity of companies and enterprises under mild fiscal policy and active fiscal policy. With the growing risk of deepening the scale of the financial and/or economic crisis
central banks lower interest rates with a view to lowering the cost of money lent by commercial banks in the form of bank loans and thus increasing liquidity in the banking sector and indirectly in the economy as a whole. When the World Health Organization declared a pandemic state of Covid-19 on March 11, 2020, there was panic in the capital markets involving panic selling of assets. The high level of uncertainty and investment risk prevailing in the capital markets, including those of the stock exchanges, caused companies and businesses to put their investment plans on hold and some had already begun to see declines in the level of sales of their product and service offerings. Subsequently, citizens' fears for their jobs quickly emerged and politicians, fearing the loss of public support, quickly began to launch processes that would result in the introduction of certain anti-crisis instruments. The sharp stock market crashes on the stock exchanges, which lasted for several days, as well as declines in industrial commodity prices, were halted when central banks strongly reduced the level of interest rates. During the Covid-19 pandemic, anti-crisis state interventionism was applied on a large scale to limit the scale of the development of the economic crisis. These anti-crisis interventionist measures were intended to prevent the economy from deepening into a recession in 2020 and the occurrence of stagflation in subsequent years. Stagflation is a particularly unfavorable type of deep economic crisis characterized by high inflation, sometimes hyperinflation and high unemployment. For capital markets, including the stock market, it is a particularly unfavorable type of economic crisis. Triggered by the Covid-19 pandemic and the lockdowns introduced during the pandemic, the global economic crisis starting in the spring of 2020 could, in many countries, as it did during the 2008 global financial crisis, turn into another financial crisis, a debt crisis of the state's public finance system with the simultaneous occurrence of a recession of the national economy. If the anti-crisis, interventionist measures introduced at the time, the aid programs launched for businesses, public institutions, for citizens within the framework of the use of available instruments of fiscal policy and monetary policy did not work, a situation of a significant deepening of the then economic crisis could occur. Then this deepened economic crisis could have been more severe than the one that occurred in 2008 and could have been characterized by stagflation. In such a situation, also the interventionist actions of central banks, e.g. by continuing to lower interest rates, could no longer work effectively because there was already an excess of money in the markets, citizens and companies on bank deposits in commercial banks held record high amounts of money and inflation had already begun to rise in many countries as of 2021. After the anti-crisis reduction of interest rates by central banks, which in many countries took place between March and May 2020, the stock markets quickly returned to prosperity. When this kind of situation lasts for a prolonged period over many months, quarters or even sometimes several years then stock prices can rise to levels described as highly overvalued which can then result in a stock market crash at a time when most market participants do not expect it. In the meantime, stock prices may rise on a "buy the rumors, sell the facts" basis. It is not out of the question that this principle worked in 2023-2024, as most investors active in the stock markets expected the start of the announced interest rate cuts by central banks. Expectations were reasonable since inflation had fallen to levels close to inflation targets and central banks had not lowered interest rates, which had previously been anti-inflationarily raised after the Covid-19 pandemic.
I described the key issues of the central banking problem in my articles below:
Synergy of post-2008 Anti-Crisis Policy of the Mild Monetary Policy of the Federal Reserve Bank and the European Central Bank
Analysis of the effects of post-2008 anti-crisis mild monetary policy of the Federal Reserve Bank and the European Central Bank
A safe monetary central banking policy as a significant instrument for liquidity maintenance in the financial system
In view of the above, I address the following question to the esteemed community of scientists and researchers:
Did the significant amount of additional, printed, anti-crisis money that was injected into the economy during the Covid-19 pandemic and found its way into capital markets, among other things, pull stock market indexes upward and cause asset inflation in capital markets, including stock markets?
Did the money that was printed during the Covid-19 pandemic, which was introduced into the economy and found its way to the capital markets, among others, cause asset inflation in those markets, including the stock markets?
Did the money that was printed and introduced into the economy during the Covid-19 pandemic cause asset inflation in capital markets, including stock markets?
What do you think about this topic?
What is your opinion on this issue?
Please answer,
I invite everyone to join the discussion,
Thank you very much,
Best regards,
Dariusz Prokopowicz
The above text is entirely my own work written by me on the basis of my research.
In writing this text, I did not use other sources or automatic text generation systems.
Copyright by Dariusz Prokopowicz
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Probably. More importantly, I'm nominating your question as "the longest question ever asked on Research Gate."
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Can misguided monetary policy be a significant source factor for financial and/or economic crises and a source of loss of public confidence in institutionalized financial systems?
A key function of central banks in the context of their monetary policy is to take care of the value of money. In the context of increasingly frequent financial and economic crises, central banking increasingly applies other additional priorities related to the functioning of the country's economy when conducting monetary policy. Over the past few decades, mainly since the period of the oil crises of the 1970s, there has been a successive increase in the importance of the monetary policy of central banks carried out in more or less formal correlation with the socio-economic, budgetary, fiscal and social policies of the government taking into account the issues of changes in the rate of economic growth of the national economy, changes in the level of activity of the economic processes of companies and enterprises, changes in the situation in the labor markets and especially the issue of changes in the level of unemployment.
Just before the outbreak of the Great Depression of the 1930s and just before the outbreak of the global financial crisis of 2008, central banks first pursued a mild monetary policy for many years, so that when serious symptoms of an imminent financial and economic crisis appeared, resulting in a potentially high increase in unemployment and the occurrence of a recession in the economy, interest rates were raised, which then caused difficulties in servicing loans in many highly indebted companies and enterprises. Consequently, measures that were supposed to act as anti-crisis measures contributed to the accelerated development of the financial and economic crisis.
Over the past few decades of time, the importance of central banking has increased as not only the institution that shapes monetary policy, on which depends not only the value of money, but also the liquidity situation in the banking sector, the level of commercial bank lending, the scale of credit risk accepted by commercial banks in their bank lending activities and, indirectly, the economic and financial situation of many companies and enterprises that are clients of commercial banks. Therefore, also the changes made by central bank governors usually every few quarters or years in monetary policy strategies correlate to a large extent with what happens to the issue of inflation, if it is demand inflation and indirectly also the issue of monetary policy conducted can be correlated to a serious degree with important factors describing the macroeconomic situation of the economy.
The research shows that any type of monetary policy, i.e. conducted according to an anti-crisis and/or pro-development model of lax or tightened monetary policy conducted by central banking, may involve the risk of either succeeding in generating positive, pro-development effects supporting economic development or making mistakes and generating financial losses in many economic entities and leading to a financial and economic crisis. The idea is that lessons should be learned from the mistakes made at central banks in terms of the monetary policies that are carried out, that monetary policies should be realistically improved based on the conclusions of research, that financial systems should be increasingly secure, that societies should not lose public confidence in institutionalized financial systems and, thanks to this, that another major financial and economic crisis should not occur in the future.
This issue is particularly important because of the security of the entire state financial system, since the central bank, in addition to being a bank of banks and a bank of issue, is first and foremost a bank of the state that creates monetary policy and participates in the creation of money. Since the security of the financial system is largely based on public confidence in the system, including the banking system, so every bank, including the central bank, should carry out its goals and tasks with full integrity, should not engage in international financial operations with a high risk of speculative investment, and should conduct monetary policy in such a way that it does not make serious mistakes in its conduct that result in the occurrence of subsequent financial and economic crises.
I have described the key issues of the central banking problem in my articles below:
Synergy of post-2008 Anti-Crisis Policy of the Mild Monetary Policy of the Federal Reserve Bank and the European Central Bank
Analysis of the effects of post-2008 anti-crisis mild monetary policy of the Federal Reserve Bank and the European Central Bank
A safe monetary central banking policy as a significant instrument for liquidity maintenance in the financial system
ACTIVATING INTERVENTIONIST MONETARY POLICY OF THE EUROPEAN CENTRAL BANK IN THE CONTEXT OF THE SECURITY OF THE EUROPEAN FINANCIAL SYSTEM
Anti-crisis state intervention and created in media images of global financial crisis
In view of the above, I address the following question to the esteemed community of scholars and researchers:
Can misguided monetary policy be a significant source factor in financial and/or economic crises and a source of loss of public confidence in institutionalized financial systems?
Can misguided monetary policy be a significant source factor in financial and/or economic crises?
What do you think about this topic?
What is your opinion on this issue?
Please answer,
I invite everyone to join the discussion,
Thank you very much,
Best regards,
Dariusz Prokopowicz
The above text is entirely my own work written by me on the basis of my research.
In writing this text, I did not use other sources or automatic text generation systems.
Copyright by Dariusz Prokopowicz
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Although central and private banks are powerful tools of societal control in a monetary production economy, their range is limited by the physical cyclicity ( waves transforming into distinct cycles) of our economy, in terms of natural motion and development, which is not Subject to linear accounting models. So, yes, misguided monetary policy can be a significant source factor for financial and/or economic crises, with respect to failed macro-prudence, concerning the physics of social systems, dear Dariusz Prokopowicz .
The psychological momentum, i.e. the loss of public confidence in governing institutions of finance and economics, is equally important, when the crowds begin to sense the negative impact of institutional incompetence on their everyday lives.
_________________
This essay is built upon an analogy. I examine the similarities between medical science's fighting for the health of the human organism and eco-
nomics' striving for the health of nations, for the good functioning of economic systems.
————
This analogy Dariusz Prokopowicz came into my mind, when certain economic medicines do no more work to treat an acute illness, which can easily transform into a chronic disease or even mortality (generally by spreading armed conflicts in and between states).
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What is mainly determined by the issue of the possible introduction or non-introduction of the euro currency in Poland?
Do the media debates on the issue of the possible introduction of the euro currency in Poland continue to be dominated by politicized subjectivism instead of fully objective analysis and research?
For years, the media have been conducting sterile discussions based on the low level of economic knowledge of citizens. Discussions in the media by economic commentators tend to lack objectivity, as they are determined by subjective reference to studies conducted by certain institutions, including the NBP, which were also not conducted and commented on under conditions of full political impartiality. The government, without the influence of various pressure groups, prefers the stasus quo to which it is accustomed, to which it is condemned for the next 4 years after winning the elections, and maximizes the pros against the cons of a given state of affairs, that is, the situation of Poland having a national currency. In Poland, the main social group that would definitely benefit from the introduction of the euro in Poland are entrepreneurs, mainly importers and exporters who settle their business activities in euros and therefore bear the costs of hedging against currency risks. However, even this social group is apparently too weak to unite in organizations supporting the plan to introduce the euro. Regarding the issue of the plan to introduce the euro in Poland, there is no such plan in principle. There were first attempts to develop this plan as early as the late 1990s, but as it turned out, the issue of the dominant narrative in the media was politically determined in particular years, or rather, during the periods of the various ruling political parties. The political narrative of the PIS party is related to the policy of printing national currency, the printing of so-called anti-crisis additional domestic money. The second PIS argument for not introducing the euro in Poland is the loss of national monetary policy by the NBP, i.e. the central bank, which theoretically and according to current legal norms (the Polish Constitution and the NBP Act) is an independent bank from the government's fiscal policy, which is not in line with the facts given the political ties of NBP President Prof. Glapinski with the PIS party, which ruled for 8 years from 2016 to 2023. Another third key argument, partly objective and economic, suggests that Poland could adopt the euro in the distant future, when the economic potential of the Polish economy, the production capacity of industrial sectors, labor productivity determined, among other things, by the equipment of manufacturing processes with new technologies and innovations, the balance sheet totals of banks' financial capital, the level of real income of citizens, etc., will almost equal the analogous levels in the largest economy in Europe and at the same time the main trading partner with respect to Poland, i.e. the German economy. In addition to this, the arguments used to question the legitimacy of the introduction of the euro in Poland in recent years often include concerns about the increase in prices of many products and services, which would occur in the first years after Poland's entry into the eurozone. The basis for this argument is to point to such a phenomenon, which has occurred on a certain scale in countries where the euro currency was recently introduced. In a situation where such a phenomenon also occurred in Poland, the most affected would be citizens with the lowest and lower levels of income, citizens who spend a significant part of their income on the purchase of basic products, including food products. From the arguments presented, further arguments follow. Well, if in the situation of a much less developed Polish economy in relation to the largest economy in Europe, which is the German economy, the plan to introduce the euro currency in Poland would be implemented, the less developed Polish economy could continue to develop less well and would not necessarily catch up quickly with the economic development of Germany. On the other hand, there are supporters of the completely opposite theory claiming that if Poland adopted the euro now it would develop faster and thus catch up with Germany's economic development faster. But there are also supporters of the theory that these issues are not necessarily correlated, because it is usually the case that less developed countries, when they develop and are developing, growing countries then the magnitude of the rate of economic growth in such smaller and less developed economies is greater in comparison with the corresponding figures denoting the rate of economic growth expressed in percent, expressed in the indicator macroeconomic determinant Gross Domestic Product. So this issue is almost entirely "malleable," subject to politicized, subjective evaluation. However, if the policy had changed on this issue, a plan for the introduction of the euro had been developed, all the formal requirements of the European Union had been met in terms of the monetary policy and fiscal policy applied in the country and their effects in the form of similar to EU standards issues of the development of the exchange rate of the PKN against the euro and in terms of the level of debt of the system of public finances of the state, and after a few or more years in Poland the euro currency would have been introduced, then in many media commentaries consideration of the pluses of the situation would have begun to prevail instead of consideration of the minuses as before. Then it could turn out that loans would be cheaper, because ECB interest rates are lower than NBP interest rates. However, the fact that the ECB's interest rates are lower than those of the NBP is related to the issue of offering Treasury bonds to foreign investors, who need to be offered a correspondingly higher yield to cover the higher level of risks associated with the peculiarities of the Polish economy. In addition, the issue of higher interest rates of the NBP vis-à-vis the CBs is also related to the transactions carried out by the NBP on international financial markets, as well as the exchange rate of the national currency PLN against other currencies. On the other hand, changes in the exchange rate of the PLN against other currencies also matter to foreign investors conducting speculative investment activities in Poland using securities listed on the Stock Exchange, i.e. primarily investment banks and investment funds operating transnationally. On the other hand, when we ask whether there is any type of entity that cares about the continued existence of the domestic PLN currency in Poland, it is primarily domestic commercial banks generating much higher profits from the situation as it is now, and also the already mentioned foreign banks and investment funds. Well, it has happened more than once that in periods of internationally or globally developing financial and economic crises, a decline in the level of economic stability, an increase in various categories of financial and other risks foreign financial institutions, such as. Foreign financial institutions, such as banks and investment funds based in the City of London, taking advantage of the situation of increased sensitivity of the PLN currency to various crisis factors, the situation of increased amplitude of fluctuations of the PLN exchange rate against other currencies determined by the increase in uncertainty and risks developing in the scope of economic activities carried out by thousands of entities, carried out speculative transactions with the involvement of large financial resources in the foreign exchange markets increasing the scale of destabilization in the issue of the formation of the PLN exchange rate against the euro and other currencies. So, when you do not know what the issue is about it is about money, or when you seem to know what the issue is about you choose many different arguments for the situation, but unfortunately a situation determined mainly by politics and not economics.
Specific economic and financial aspects relating to the issue of the possible adoption of the euro currency in Poland in the precisely unspecified future I described in the following article:
NORMATIVE AND MACROECONOMIC CONDITIONS OF THE POSSIBILITY OF ENTERING EURO CURRENCY IN POLAND
Determinants of the introduction of the euro currency in Poland
In view of the above, I address the following question to the esteemed community of scientists and researchers:
Is the media debate on the issue of the possible introduction of the euro currency in Poland still dominated by politicized subjectivism instead of fully objective analysis and research?
What is mainly determined by the question of the possible introduction or non-introduction of the euro currency in Poland?
How is the issue of the possible introduction of the euro currency in Poland presented?
What do you think about this topic?
What is your opinion on this issue?
Please answer,
I invite everyone to join the discussion,
Thank you very much,
Best regards,
Dariusz Prokopowicz
The above text is entirely my own work written by me on the basis of my research.
In writing this text, I did not use other sources or automatic text generation systems.
Copyright by Dariusz Prokopowicz
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The economic arguments for Poland , dear Dariusz Prokopowicz ,to adopt the euro are strong. The country exports the equivalent of 63% of its GDP, and 75% of its trade is with the European Union. Exporters have benefitted from the 9.5% fall in the zloty against the euro since Warsaw joined the Union in 2004. But the volatility of the national currency has been a problem. In the past two decades, its value against the euro has been as much as 26% lower and up to 12% higher than its current level. These fluctuations create uncertainty and raise transaction costs for businesses.
European treaties also oblige Poland to join the euro zone at some point, but the decision to apply is left up to national governments.
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That sounds interesting. Will it benefit you and others?
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In the following link, you can see "loans to deposits ratio of EU countries"
If you look at more detailed, this ratio was nearly %140 in the EU average in 2000 year.
However this ratio has declined from the 2008 to 2019
My question is
How can we explain this ratio in the context of the post keynesian monetary theory ? Because we expect that credits are equal to the deposits in the post keynesian monetary theory.
Sincerely
Engin YILMAZ
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Interesting that you point that out.I wrote a paper which implicitly touches on this - it's about exogenous and endogenous monetary systems and their interaction. You can find it in my profile. Deposit creation through lending creates something that I refer to as "stranded money" - i.e. deposits which get stuck in the system when loans are not repaid. Take a look and let me know what you think.
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what can I use to measure audit risk and audit quality in analyzing data gotten from financial statements? I have gotten the financial statements of deposit money banks, but I do not know how to measure the audit risk and audit quality. my research topic is audit risk and audit quality in deposit money banks
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The answer above looks like it was generated from AI. Maybe not, but looks like it. Here is a non-AI answer based on my experience as an auditor and analyst of financial statements ...
You may wish to assess the audit qualitatively including the following factors:
  • Use of a well-recognised audit firm compared to use of a small, unrecognised audit firm. Companies or banks sometimes choose to use a small audit firm (eg one partner or one office) as they want the audit to be ineffective. So this would be a tell-tale sign of audit quality. The name of the audit firm will be disclosed in the annual report, so you can find that and do your research.
  • Frequent changes to audit firms could also suggest problems with management. You will find this information by analysing the annual reports over the past several years.
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it is a research I want to carry out I need help starting
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Use CSR as moderating or mediating variable rather than an independent variable or set of independent variables.
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Will money markets change when central banks introduce Central Bank Digital Currency (CBDC) and settle on a large scale using this type of electronic money?
Could the larger-scale use of Central Bank Digital Currency by central banks have an impact on their monetary policies?
With central banks using Central Bank Digital Currency, will the question of the independence of these banks vis-à-vis the fiscal policies of governments increase in importance?
And what is your opinion on the subject?
What do you think?
Please reply,
I invite you all to discuss,
Thank you very much,
Warm regards,
Dariusz Prokopowicz
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Dear Darius,
Thanks for proposing such an interesting question.
As soon as I read your post Mr. Tobin came to my mind: among all the other huge contributions he gave, he stated how usually Central Banks are in a vertical relationship with commercial banks, playing the role of Lender of Last Resort for example. Consequently, we would never tend to think about the existence of a "competition" between CB and banks.
However, I personnally believe that this would be one of the "disruptive" consequences of the introduction of CBDC.
As far as I know, when it comes to CBDC the original goal was creating an innovative tool that could take the best from cash and bank deposits. Since the lowest level of interest that banks can recognize to people depositing money depends on the relative cost of comparable alternatives, this would definitely increase the premium that bank should be ready to recognize in order to win over CBDC. As a consequence, banks would have to increase lending rates too. This undesirable effect led many of the proponents to think about different ways to tackle this shortcoming: should we introduce a maximum limit to the potential amount of CBDC held by people? Wouldn't this mean going too far from the "cash model"?
Obviously, there would be other technical objectives that may be interesting. As we know, the main reason why CB carefully looks at money market is to take the pulse of economical trend (theoretically, demand in money market should increase when the economy is uptrending and decrease when downtrending): on that basis, CB would intervene with the aim of generating desired effects through the so-called "channels of transmission". To keep it simple, if economy is downtrending, CB would lend money at a lower rate to banks (and this reference rate is the one at which money market rate tends to align, theoretically) so that they will lend money to people at more convenient conditions. However, there are many other factors that must be taken into account when decidind whether to fund or not someone (do I trust you? do I have faith in macro conditions?), thus the channel hasn't always worked properly.
CBDC would allow to implement monetary policy decisions directly with final agents... but we would risk to run into the same kind of situation: if the final goal is to increase consumption, are we sure that more CBDC in one's pocket would mean more spent CBDC?
A potential solution to both issues had been proposed a few years ago: when you reach a certain level of non-spent retained CBDC, you start to pay (or you receive a negative interest) on the marginal part.
All these words to arrive to my personal point of view: I guess it will all depend on how CB will introduce CBDC.
Thanks for your attention and for any of the precious comments you may want to leave!
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Wearing mask has been inevitable, though not bad, it too has established a mask culture over the world. Along with it arose some major problems, likewise, identity issues, healty issues and bargaining. Production of mask has taken the shape of big profit making Industries. There is a lack of knowledge regarding proper wearing of mask. There is no check on production firms. There should be parameters and specifications on material, size, thickness, etc. for producing masks of good quality. Many a time, wearing a mask creates identity crisis and it may create some other social problems if not handled within time. What do you think about these issues? Kindly share your views and experience.
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Wearing face masks is one of the essential means to prevent the transmission of certain diseases such as COVID-19. Surgical mask-wearing in Japan is has been routine practice against a range of health threats. Their usage and associated meanings are explored in Tokyo with both mask wearers and non-mask wearers. Although acceptance of COVID-19 masks is increasing globally, many people feel that social interaction is affected by wearing a mask. In addition, there are individual perceptions of infection risk, personal interpretations of responsibility and solidarity, cultural traditions and religious imprinting, and the need to express self-identity. Therefore, the significance of an in-depth understanding of the cultural and sociopolitical considerations around the personal and social meaning of mask-wearing in different contexts as a prerequisite for assessing the effectiveness of face masks as a public health measure is critical. Furthermore, improving the personal and collective understanding of citizens' behaviors and attitudes appears crucial for developing more effective health contacts about the COVID-19 or similar hereafter.
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What is the future of traditional money (coins and banknotes )... in light of the acceleration of the launch of crypto and digital currencies... and how do you see the future of cash payment? ..Are we heading towards a cashless society...Do cryptocurrencies have risks..compared to their advantages
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You are most welcome dear Othmane Touat . Wish you the best
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Money provides a certain level of living in consumption and existential terms.
Money allows you to undertake investment projects, organize business operations.
However, not everything can be bought with money. However, money does not ensure happiness, not everything can be bought.
For example, true, good friendship and love, and other feelings and higher values can not be bought.
In view of the above, the current question is: Can everything be bought for money?
Please, answer, comments. I invite you to the discussion.
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Can you buy the time?
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Can you suggest the appropriate references too?
Is this proxy good also for Islamic banks?
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z-score is the best proxy to measure the stability of banks.
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Do you prefer to run money in banks through deposit and get interest or invest money in financial markets through the available financial instruments?
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I prefer to invest money in financial markets through the available financial instruments
Best Regards Aya Adel
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Universities must accept that there will be consequences if early-career researchers are not properly supported.
Letters from research funders to university leaders rarely raise eyebrows. But a letter sent this month by the heads of the United Kingdom’s three largest medical-research funders did just that.
It says that some types of funding could be withheld unless universities provide better support for early- and mid-career staff — particularly women and trainees. And it warns that institutions could be prevented from bidding for funded posts unless they change their ways. The letter is signed by the heads of the Medical Research Council, the National Institute for Health Research (NIHR) and Wellcome.
What has sparked funder frustration is the fact that universities promise to look after new researchers when applying for grants — making pledges including the provision of quality mentoring, or a path to promotion. But in some cases these commitments are ignored once grant money is banked — sometimes in violation of contracts. No institutions are named in the letter, which has been seen by Nature, but it points to “some very large and well-established Universities and Medical Schools”.
One of the signatories — the NIHR — was an early adopter of tough measures in support of advancing women’s careers. In 2011, it made grants conditional on medical schools achieving a gold or silver in the Athena SWAN Charter, a scheme designed to improve women’s career prospects that has also raised awareness of the structural barriers to gender equality in universities. However, there have been unintended consequences: it is mostly women who have had to take on the additional burden of work needed to meet the scheme’s requirements.
Early- and mid-career researchers face enormous pressures, including job insecurity, fierce competition for academic positions, and administrative burdens. That is in addition to a treadmill of grant applications and publication submissions.
There are clearly lessons to be learnt from the experience of Athena SWAN — including recognizing those universities and university departments where early-career researchers are supported, and where positive action is being taken to advance equality and diversity.
But when it comes to the needs of early- and mid-career clinical researchers, the NIHR and the other medical-research funders are right to challenge universities that are not doing enough. A strongly worded letter warning universities that they could be sanctioned unless they change is a necessary step.
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I think its easy for a young but potential scientist to get research project. Like you can have a look of TWAS website for the opportunity.
Good luck
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I'm wondering about attachment styles in relationship to inherited wealth. I have not found any literature or studies regarding but if any one knows of existing or developing research please let me know!
Much thanks, Michele
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What a great question/future research area. Money is indicative of so many areas of life. I study attachment and have never seriously considered the variable. Best of luck on your work!
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This is a question to the experts familiar with smartphone technology and banknote security features
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Hello,
Banknotes authentification is based on identifying security features which are present in banknotes. Consequently, one or more sensors are required to acheive the bill validation process : IR Sensor, UV Sensor, MG Sensor, FL Sensor.
Nowadays, ordinary smartphones are not equipped with this kind of specefic sensors, so, i beleive that banknotes validation process using smartphones is not actually possible, unless, specific sensors might be built-in separatly.
Best regards,
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I'm a little bit understanding economy. I want to know about the most beneficial way for a country's economy. Sending money from another country in national currency or in foreign currency.
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Dear Ahmed Hesham,
There is no unifying principle in this matter. It depends on the form in which money is sent from country to country, via which type of transfer or in another form. Besides, through a bank or other institution? In addition, it also depends on various currency systems that may operate in individual countries, from international settlements implemented in specific countries. Besides, the optional currencies are just as exchangeable in individual countries, etc.
Best wishes
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What is your opinion about the concept of helicopter money invented by Milton Friedman as an idea for one-time activation of consumption, economic activity and improvement of economic growth in a situation of economic downturn?
Milton Fredman, classic of economic liberalism, Nobel laureate, in 1969 developed a hypothetical situation of consumption activation based on the idea of ​​the concept called helicopter money.
Some central banks have modified this concept and used anti-crisis solutions, among others, in the following two variants:
1. An intervention, anti-crisis purchase of short-term tax motions to improve financial liquidity in the public finance system of the state.
2. Intervention, anti-crisis purchase of the highest level of credit risk incurred by non-regulated debt of commercial banks as part of quantitative easing programs.
Central banks in some countries have used these opportunities since 2008 in order to quickly restore liquidity in the financial system when the global financial crisis appeared, including the objective of maintaining lending of commercial banks, maintaining customer confidence in the banking system and preventing total liquidity collapse financial systems and the aim of excluding the possibility of a decline in the importance of the banking sector in modern economies.
In view of the above, in the context of preparation of new anti-crisis programs for the situation in the future of further global financial crises, the answer to the following questions is:
- Is the possibility of buying short-term government treasury bonds by the central bank an important kind of safety valve on the potential future global financial, monetary, economic, debt crises, etc.?
- In which countries did central banks use the option of buying short-term Treasury bonds, regardless of whether they benefited or failed to purchase the highest-risk non-regulated commercial banks' debt assets under the quantitative easing programs?
- In the context of the above considerations, what do you think about the concept of helicopter money invented by Milton Friedman?
I invite you to the discussion
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Thank you all for sharing your thought on the subject.
I found more of similar to quantitative easing practices that various central banks adopt special when they feel that external stimulus required to bring economy back on growth track.
If anything more kindly share, Thank you
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Looking for a proper theoretical framework to anchor corporate diversification and performance of deposit money banks in sub Sahara africa
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The previous answers are interesting. I am not certain my answer will help you; however, it sounds like economies of scale and scope might be an option for you to consider. The literature is in enough depth for one to see several options.
Although you can find our journal article on it via ResearchGate, I would encourage you to look at Jeffery A. Clark's work. The easy way to find Clark's extensive review of the literature it is to use a Google search on Economies of Scale and Scope in Kansas Banking; it will be among the top ones listed. I hope this helps.
Rob
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Which country is the best for immigration?
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Please which country is best for a young animal scientist to pursue his doctoral degree with high chances of job after study?
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With aggressive promotion of cashless economy, electronic payments & reduced cash usage, RBI will lose the seigniorage revenue. Seigniorage is a very small share of the RBI’s net worth (about 6%) but a substantial share of its cash income, almost 100% at this juncture. Can it be compensated from some other source? True, less cash will reduce the RBI's liabilities but issued currency is a non-interest bearing liability whereas seigniorage is actual cash income. 
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Even in a cashless world, electronic money hinges ultimately on accounts with the central bank as the ultimate clearing instrument. In my view printing currency notes and letting them circulate will create the same amount of seigniorage for the central bank as if the identical amount is granted to an economic agent in the form of an (electronic) account with the central bank. Only if the total demand for central bank money ( in the form of cash plus electronic deposits) is affected by the abolition of cash will this affect the amount of seigniorage. 
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I am doing a study on factors influencing students' choice of retail bank. The study aims to find out factors students consider when selecting the services of a retail bank. My dependent variable is: bank selection and my independent variables are: proximity, service quality and technological services. My supervisor keeps asking me  the type of my Ivs and I am not sure about that. I would appreciate if you could help me with that.
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You need to decide if the technology level is a continuous variable showing service available or just a binary variable determining that services are above a level of cutoff. Similarly you can choose different types of IVs. Like Nguyen's selection you should also look at other literature for other factors than these three and what would capture the event of bank selection completely. You might also get to some latent variables that you use in your equation or use to control the environment for your selected IVs
For example, SERVQUAL and Technology adoption are well established latent constructs with 5-6 dimensions respectively in the Banking Services investigations related literatures in IS or Marketing. 
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How Basil norms will prove its effectiveness?
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Dear Sayed
Greetings,
Please see attached  file about your topic may be useful for you. 
Best Regards
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I am looking for ready database or raw data to calculate:
1) the percentage of banking asset to the total financial sector asset for a particular country?
2) banking asset as a percentage of GDP of a particular country?
TQ for any response. Really appreciate it.
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I can't find anything other than the Fed of St. Louis.
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Dear J. P. Amor
You can find any data from webpage of bank stock exchange or central bank report and statistical report,
Best Regards, 
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Complementary and/or virtual currencies are diffusing especially in Europe after 2008. At the same time, In Iceland and Finland the debate about monetary sovereignty seems politically relevant. Notwithstanding, I did not find news about the regulation of complementary and/or virtual currencies in those countries. 
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Dear Stefano,
I, as well, have not heard anything concerning virtual currencies in Iceland and Finland. Though, with respect to the "social legitimacy" and "sovereignty" of such currencies, I did find this article to be of reputable assistance.
Yours,
David
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What definition is appropriate for neo-banking?
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Dear David I did not know the notion of neo-banking. So I checked in the web and I found an interesting definition at the following link
As you will see  neo-bank is defined as "an institution that provides checking, a prepaid debit card and some form of savings account without the traditional brick-and-mortar building. This usually includes features like mobile deposits, P2P payments, mobile budgeting tools and real-time digital receipts. In the U.S., these institutions are – directly or indirectly – FDIC insured."
Neo-banking provide easy and simple account start-up with strong digital support, and exceptional  customer support. You do your banking via smart phones, at ATMs, or at locations like Wal-Mart or 7-Eleven.
Regarding your question, I think it could be right understanding this new phenomenon by using the theory of endogenous money. We should check it in countries where neo-banking is diffused, we have a higher velocity of circulation of money, and if the presence of neo-banking is demand driven.  
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After all, US fed lending totaled 2 trillion dollars through the discount window, at nearly zero interest...in addition to quantitative easing...
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I agree inflation can be the result of sufficiently large deficits. On the other hand, there is no guarantee that possible inflationary effects will completely and exactly offset real gains in capacity utilization, output, and growth, except under implausible “Ricardian” assumptions. Moreover, a complete model of inflation will of course contain multiple variables.
But in conditions of moderate to high unemployment, high deficits do in my view tend to increase the growth rate, though as you point out, there is no guarantee of this outcome in all business-cycle conditions. I mentioned the standard but important slack-resources argument that appears in most versions of Keynesian theory. Think also of skill-deterioration hysteresis and the argument that (innovation-embodying) investment systematically falls behind as a result of weakness during periods of weak aggregate demand. In fact, taking the reasonable step of including capacity utilization in the investment function leads to straightforward results of the latter type. Finally, of course, higher growth improves tax revenues. These latter points on inflation are indeed a matter of degree or a frequency along the spectrum and seem neither necessary nor sufficient for MMT.
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How then can large sales of credit default swaps be manifestations of creditworthiness? Moreover, why would any investor want to purchase a credit default swap if the intention is to not profit of future default of the reference loan? Is the motivation then an effect stemming from expectations of asset price inflation? e.g. bond prices going up?
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It is out of question that the CDS  derivatives are connected with credit risk measure and  perception and, therefore , they can be utilized as  evaluation and/or risk protection tools.  However ,  for their  inherent speculative nature, and the dimensional structure of the OTC derivatives market,  it is not always easy, in my opinion, to clear out  the scene from the speculative part of this type of transaction. I would not compare precisely the risk evaluations made in the insurance Market with the ones made in the OTC one! If you track a trend and you sell and buy basing your decisions  on the technical analysis suggested by your  trading system,  you do not consider the creditworthiness directly but more precisely also some speculative effects of it. To clear  the evaluation of creditworthiness from distortive betting effects it is not always possible, in my opinion, as the speculative betting content of the CDS transactions, might sometimes alter improperly the picture.
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Alberto
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What significant role does this play in real as opposed to fictitious accumulation of capital?
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@Arjun,
Indeed, by definition.  
To David's question, I am sure Marx would have been amazed and enthralled by Stephen Marche's piece http://lareviewofbooks.org/essay/literature-second-gilded-age/
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Or is a world-historical paradigmatic lens more appropriate?
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I am rather doubtful if VOC approach (Hall and Soskice type) has anything concrete to analyse global financialization. I will explain in the subsequent post that VOC approach has a serious theory defect that prevents it analyse and examine globalization phenomenon.
Financialization has been a big topic for Regulationists since 1980's, for they considered finacialization as successor to Fordist regime of accumulation.  They have many books and papers on this theme.
It will be helpful and informative for you to read a review paper like van der Zwan's  
STATE OF THE ART: Making sense of financialization. Socio-Economic Review (2014) 12: 99–129. (see the link below)
It contains major survey on three major approaches: accumulation approach, share value approach and everyday life approach.  
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Is it fair to assume we have now crossed the rubicon and things are more tune with steady progress now and for another decade or more to come? While AIG and GM seem to need more help in the USA, banks have been building new markets. European banks of course seem to be hit because of the lack of viable collateral and fast closing avenues of fresh equity. Also maybe the use of Contingent Capital is not fair and Europe is actually headed for more trouble within banking?
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Your assumption that banks have resiliently adapted might be a bit optimistic. There is still a lot of work to do and not all banks have managed to consistently pass their stress tests. Check out the FRB CCAR page for details. The issue with advancing new credit in any market is the balance between threshold return levels and risk of default -- or other loss factor. Clear property rights, shorter tenor credit advances, and good quality collateral that is not positively correlated to the direction of risk are essential.
Also don't forget that with the internet, reputation is key to growing new market capaclty. So look to issues of cyber threats, intellectual and other property rights and corruption as reasons to not enter markets.
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Money Transfer Monopolies
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As an Bdonomist like to agree with fellow scholars that mobile money is posing a serious challenge on the banking industry. the revenue banks could have been getting is being syphoned by the mobile money operators. 
It is a work up call to banks to start mobile banking before they can witness the closure of bank. Meanwhile banks have been in this indusrty for a long time and with perfect competition they should be ready to introduce most efficient mobile money
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Everyone seems to quote 'market cap' (price*total volume) but this seems to be of pretty limited value, particularly if you want to have a measure of the relative utility or use of a cryptocurrency. Can anyone suggest some alternative metrics? It seems that there's an entire field here yet to be developed.
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At this stage in the (very limited) maturity of cryptocurrencies, I usually look at exchange volume. Obviously, a CC isn't much use unless it's liquid. One thing that makes me uncomfortable about this approach is that I don't really understand why people are buying the CC they are (in the sense that every femto-satoshi exchanged has both a seller and a buyer.) Market Cap doesn't have much functional meaning, and is distorted by pre-mined CC.
The trade-volume approach leads one to think Bitcoin and probably Litecoin (about 1/4 of Btc volume) are viable, but Dogecoin is way down (usually around 1/10 of Ltc) , and past that it's all noise.
Until the regulatory environment is figured out, all CC are going to be volatile.
Since blockchains are public, there are some interesting *data* mining opportunities, though it doesn't seem like there's been much sustained or academic interest in this so far.
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How can we know that a banking system is overbanked?
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In some ways this is a very odd question. First, what is the definition of "need" in the case of the "system" (financial system? the economy as a whole?) I presume you mean banks rather than bank branches (which unfortunately makes Dr Rajan's proposed measure problematic). The number of banks in relation to anything may be difficult to interpret. The US has almost 7000 institutions that report to the FDIC and these banks have some 90,000 offices. However, the concentration of deposits is high with three banks accounting for over 30% of all bank deposits. Is that too many banks? or too few? or both? One could argue that concentration of banks is a problem (too big to fail) and more banks might reduce that risk. Large concentrated banks might focus on capital market activities of large firms or governments and neglect small firms The availability of credit might have little to do with the number of banks at all but the overall stance of monetary policy or regulatory policy. To me, this is a highly complex issue that needs to be refined before it can be usefully answered.