Rozprawy doktorskie: „Money”

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Литвиненко, Галина Іванівна, Галина Ивановна Литвиненко, Halyna Ivanivna Lytvynenko i Y. Tokar. "Money and money substitutes". Thesis, Видавництво СумДУ, 2008. http://essuir.sumdu.edu.ua/handle/123456789/16052.

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Olsson, Julia, i Sophie Nilsonne. "Helicopter money". Thesis, KTH, Fastigheter och byggande, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-191551.

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This thesis has been conducted through a qualitative research method in order to explain the concept of helicopter money and how to implement it in Sweden in line with present law. Milton Frideman was the first to coin the concept of helicopter money. His theory was that a permanent increase of the monetary base via money transferring to households would increase the aggregate demand and consequently result in an increase of the inflation level. Further Ben Bernanke has developed this theory to not only include transferring money to households but to the government in order to enable an increase in public spending and increase of inflation. Helicopter money is a form of direct monetary financing, which is illegal in Sweden today. There are ways to implement it though by doing an implicit transfer to the government through purchases of treasury bonds that are held in infinity. Helicopter money therefore requires cooperation between the government and the Riksbank. In order for helicopter money to be a sufficient tool the money that are being transferred needs to be consumed. Helicopter money has the unique quality that it’s irredeemable. Which result in an asymmetric treatment of the money, which mean that households never have to repay these money and therefore the consumption propensity rises. Helicopter money also weakens the currency, which results in an increase of inflation. Transferring money to the households would probably increase the inflation level but it also entails risks. If we on the other hand transfer the money to the government we can be absolutely certain that inflation will rise. The best way to implement helicopter money in order to achieve a higher inflation and at the same time taking present law into account is therefore to make an implicit transfer to the government. A good communication and explanation of the intentions are of great importance in order to retain the trust of the government and institutions.
Denna uppsats har genom en kvalitativ undersökning redogjort för begreppet helikopterpengar samt vilka förutsättningar som krävs för att implementera det i Sverige med hänsyn till rådande lagstiftning. Helikopterpengar bygger på en teori av Milton Friedman och innebär en permanent ökning av penningmängden via en transferering till hushållen vilket resulterar i en ökad aggregerad efterfråga och stigande inflation. Begreppet har utvecklats av bland annat Ben Bernanke som menar på att en transferering av helikopterpengarna likväl kan ske till staten för att öka offentliga utgifter och på det sättet driva upp inflationen. Helikopterpengar är en typ av direkt monetär finansiering som är förbjuden i Sverige med dagens lagstiftning. Det går dock att praktiskt tillämpa helikopterpengar genom att göra en indirekt transferering till staten genom köp av statsobligationer som hålls för evigt. Helikopterpengar kräver alltså ett samarbete mellan staten och Riksbanken. För att helikopterpengar ska få önskad effekt bygger det på att pengarna konsumeras. Helikopterpengar innebär en asymmetrisk behandling av pengarna vilket gör att hushållen inte behöver betala tillbaka pengarna i framtiden och konsumtionsbenägenheten ökar. Helikopterpengar urholkar kronans värde vilket leder till en svagare valuta som i sin tur också bidrar till en ökad inflation. En transferering till hushållen skulle med stor sannolikhet ge effekt på inflationsnivån men medför även risker. Genomförs däremot en transferering till staten kommer inflationen med säkerhet att öka då staten kan se till att varje krona spenderas. Bästa sättet att implementera helikopterpengar för att få störst effekt med hänsyn till rådande lagstiftning är alltså att göra en indirekt transferering till staten. Det är även viktigt att kommunicera intentionerna på ett pedagogiskt sätt för att marknaden ska behålla förtroendet för pengar och institutionerna.

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Гладченко, Оксана Робертівна, Оксана Робертовна Гладченко, Oksana Robertivna Hladchenko i Yu Denisenko. "Electronik money". Thesis, Видавництво СумДУ, 2010. http://essuir.sumdu.edu.ua/handle/123456789/17129.

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Denisenko, Y., i L. M. Chuchilina. "Electronic money". Thesis, Вид-во СумДУ, 2009. http://essuir.sumdu.edu.ua/handle/123456789/17048.

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Modern, quickly developing world impossible to present without electronic money. Quite soon they will become integral part of our life. Electronic money is really incredible invention of humanity. When you are citing the document, use the following link http://essuir.sumdu.edu.ua/handle/123456789/17048

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Knecht, Caroline E. "Bad Money". Cleveland State University / OhioLINK, 2020. http://rave.ohiolink.edu/etdc/view?acc_num=csu1589283651411449.

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Gebauer, Anja. "Money Matters and Money Talks : German Children’s Experiences with and Perspectives on Their Own Money". Thesis, Norges teknisk-naturvitenskapelige universitet, Norsk senter for barneforskning, 2013. http://urn.kb.se/resolve?urn=urn:nbn:no:ntnu:diva-23733.

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The following thesis rectifies the often assumed notion that children are economic innocents and portrays the full complexity of children’s economic lives. It traces the experiences of 17 German 6 to 8 year old children with their own money and explores their perspectives on their money relations. Empirical data is derived from semi-structured individual interviews and focus-group discussions with children, children’s drawings as well as semi-structured interviews with the parents of these children. Through the theoretical lens of economic sociology, childhood studies and sibling research the thesis discusses the emotional and social value German children ascribe to their own money, the diverse economic activities and practices they are engaged in and their evaluations thereof, the degrees of and attitudes toward their decision-making power and the social role of money in the relationship between siblings. The thesis may give new impetus to policymakers, parents and other stakeholders to utilize the research findings for the design of educational programs to intercept juvenile indebtedness. Further and most importantly, it urges them to listen more carefully to children’s accounts of what appears to be "trivial" activities for adults but serious and vital for children.

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Papadatos, Dimofanis. "Loanable money capital, forms of money and monetary policy". Thesis, SOAS, University of London, 2011. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.679846.

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Lai, Miu-suet Carol. "Money laundering and counter-money laundering in Hong Kong". Click to view the E-thesis via HKUTO, 2007. http://sunzi.lib.hku.hk/hkuto/record/B38927640.

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Lai, Miu-suet Carol, i 黎妙雪. "Money laundering and counter-money laundering in Hong Kong". Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2007. http://hub.hku.hk/bib/B38927640.

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Zidarich, Dinko. "Bringing the Money Out of the Shadows| Money and Therapy". Thesis, Pacifica Graduate Institute, 2015. http://pqdtopen.proquest.com/#viewpdf?dispub=1690652.

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There is a limited amount of research in psychology regarding the impact of money on the therapeutic relationship. Although some research regarding clients’ transference vis-à- vis money exists, clinicians’ countertransference concerning money has been largely ignored. As money and discussion of fees often generate negative countertransference for clinicians, it is likely that this material will not be addressed in the clinicians’ personal work, and therefore it risks being harmful to the therapy process. The author’s goal is to demystify the subject of money in the clinical setting and make it easier for clinicians to discuss money, fees, and the financial aspects of therapy with their clients, while minimizing the harmful impacts of therapists’ countertransference on the therapeutic frame. Using heuristic and hermeneutic methodologies, the author uses his own experiences as a nascent therapist to illustrate some ways for clinicians to address and minimize the negative impact of their money issues on their work.

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Gemici, Kurtulus. "Hot money, cold money managing global capital in emerging economies /". Diss., Restricted to subscribing institutions, 2008. http://proquest.umi.com/pqdweb?did=1709825231&sid=1&Fmt=2&clientId=48051&RQT=309&VName=PQD.

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Гладченко, Оксана Робертівна, Оксана Робертовна Гладченко, Oksana Robertivna Hladchenko i A. Chepik. "History of money". Thesis, Видавництво СумДУ, 2010. http://essuir.sumdu.edu.ua/handle/123456789/16952.

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Pahl, J. "Money and marriage". Thesis, University of Kent, 1988. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.381423.

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Karlsson, Emma, i Elsa Wisting. "Money, money, money, must be funny, in the rich man's world:Lönar det sig för företag med arbeta hållbart?" Thesis, Mittuniversitetet, Institutionen för ekonomi, geografi, juridik och turism, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:miun:diva-36943.

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De ökade utmaningarna världen står inför och det växande intresset för hållbara investeringar gör att företagens sociala ansvar blir en allt viktigare fråga. Forskare menar att detta sociala ansvar som förväntas från intressenterna har blivit ett problem för företagen, och som följd av detta har rapportering av sådan verksamhet blivit vanligare. Då det inte finns någon klarhet i definitionen för vad CSR innebär så är det upp till företagen själva att tolka uttrycket vilket kan leda till stora skillnader i vad de väljer att prioritera i linje med deras moraliska kriterier och värderingar. Vissa företag har en tendens att anpassa CSR-arbetet för att skapa uppmärksamhet efter de fördelar som finns, andra som ett sätt att tillfredsställa sina intressenter. Detta kritiseras för att ske istället för att genuint arbeta med socialt ansvarsfulla handlingar och implementera dessa i organisationen. Syftet med denna studie var att studera det existerade sambandet mellan CSR-arbete och lönsamhet, med fokus på europeiska företag. Vidare har studien inriktat sig på att studera detta samband tillsammans med tre kontrollvariabler, storlek, sett till antal anställda, sektor och geografisk position.Urvalet i studien bestod av 352 europeiska företag fördelade inom 11 sektorer som är kategoriserade efter Global Industry Classification Standard (GICS). Dessa har testats genom en stiganalys som är en sammansättning av bivariata- och multivariata regressionsanalyser, där även samtliga variabler inkluderades. Resultatet i studien indikerar bland annat att större företag arbetar mer med CSR men att det nödvändigtvis inte leder till högre lönsamhet. Vidare visar resultatet att sektor inte har någon betydelse för varken mängden CSR-arbete eller lönsamheten, resultatet visar snarare att sektor har en negativ effekt på lönsamheten. Slutligen visade studiens resultat att europeiska företags geografiska position inte innebär en större mängd CSR-arbete. Detta visar att oberoende av det land företaget är beläget i så innebär det nödvändigtvis inte mer CSR-arbete, samtidigt som resultatet visade att geografisk position kan ha en positiv inverkan på lönsamheten.
The increased challenge the world is facing and the growing interest and demands in sustainable investment make corporate social responsibility an increasingly and important questions for companies. Researchers even argue that this social responsibility that is expected from different stakeholders has become an issue for the companies, and as a result, reporting of such activities has become more common. Since there is no clear definition for what CSR means, it is up to the companies themselves to interpret the expression, which can lead to large differences in what they prioritize and work with. Some companies tend to adapt CSR in a way to draw attention to the benefits that exist, others as a way to satisfy their stakeholders. This is criticized for happening instead of genuinely working with socially responsible actions and implementing them in the organization. The purpose of this study was to examine the existing relationship between the CSR and profitability, focusing on European companies. Furthermore, the study has focused on examine this connection together with three control variables, firm size, in terms of number of employees, sector and geographical position.The selection in the study consisted of 352 European companies distributed in 11 sectors categorized according to the Global Industry Classification Standard (GICS) which has been tested in a path analysis which is a composition of bivariate and multivariate regression analysis, including all the variables. The results of the study indicate that larger companies work more with CSR in their organization, but it does not necessarily lead to a higher profitability. Furthermore, the result show that the sector has no significance meaning for the amount of CSR work or profitability, the result rather shows that the sector has a negative effect on profitability. Finally, the result showed that the geographical position of the European companies does not involve a greater amount of CSR work. This shows that, irrespective of the country in which the company is located, it does not necessarily mean more work with CSR, while the result showed that geographical position can have a positive effect on the profitability.

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Mailian, Tamara. "Money and Healing| Awareness of Money as an Instrument of Soul". Thesis, Pacifica Graduate Institute, 2014. http://pqdtopen.proquest.com/#viewpdf?dispub=1524895.

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Money is one of the strongest driving forces in society today. Its power over the human experience is widespread, yet many people are blind to their relationship with money and the psychological effects it has on them. Money has become a taboo topic in present-day society; even in psychotherapy it is swept under the rug. Employing heuristic methodology, this thesis uses a depth psychological approach to explore how awareness of one’s relationship with money can facilitate the healing of wounds caused by the misuse of money. The author uses her personal experiences with the money complex, along with existing research, to better understand this phenomenon. The findings show that in raising awareness around one’s own money complex, one finds that money may be used as an instrument of the soul rather than just a mere instrument of functioning, or surviving, in today’s modern society.

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16

Rodrik-Bali, G. "Money demand and money multiplier components in the United Kingdom : 1871-1969". Thesis, City University London, 1986. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.374281.

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Sonnenberg, Stefanie. "Money and 'self' : towards a social psychology of money and its usage". Thesis, University of St Andrews, 2003. http://hdl.handle.net/10023/14192.

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This thesis contends that the subjective meanings and value attached to money may, in part, be a function of identity-related norms and values. This proposed relationship between identity issues and monetary attitudes/behaviour is explored across a series of methodologically diverse studies. It is argued that psychological approaches to money, despite their efforts to the contrary, frequently concur with traditional economic models of human behaviour in so far as they rest on similarly static, de-contextualised notions of the self. The research described here aims to substitute these implicit assumptions about the nature of selfhood with a social psychological account of the 'self and thus with an explicit focus on subjective identification processes, ha doing so, the present approach draws on the Social Identity tradition. First, findings from an exploratory interview study illustrate a) that identity concerns are central for people's understandings of money, b) that the relationship between money and selfhood is dilemmatic, and c) that money meanings and usage relate to identity across different levels of abstractions (i.e. personal, social, human). Second, a series of experimental studies (based on predictions derived from the Social Identity model of the self) shows that attitudes towards money can vary as a function of both social identity salience and the comparative context in which a given identity is salient. The association between social identification, specific identity contents and monetary attitudes is also addressed. Finally, an exploration of the relationship between identity concerns and decision-making processes within a Prisoner's Dilemma-type setting indicates that identity and the social knowledge derived from it play a crucial role, not only with regard to how people attempt to meet their goals in this context but also in terms of how these goals are defined. The broader implication of these findings with regard to 'rational choice' models of human agency are discussed.

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Stec, Jeffery A. "Money demand and the moderate quantity theory of money : an empirical investigation". Connect to resource, 2000. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1261310212.

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Åström, Johanna. "Marriage, money and migration". Umeå : Institutionen för nationalekonomi, Umeå universitet, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-29881.

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Sinclair, Martin. "Political Consumerism : Money Talks". Thesis, Jönköping University, JIBS, Political Science, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-1229.

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The political development in the Western world is transforming. Political party participation decreases as well as other non-profit associations. This individualistic development is described as a threat to democracy. Nevertheless, some scholars argue that the political participation is a transformation into a new type of participation that instead could strengthen the democracy.

The political parties are the foundation of the democratic system and they receive their power by representing the citizens in the decision making process. Yet, the parties transform from organisations with a close linkage to their core groups, to catch-all organisations that aim to maximise votes. Since the goal for parties is to attain as much power as possible, new parties and other political actors have effectively been kept out of political system.

The individualistic development is observed through the political consumerism in this thesis. The political consumption is described as a political activity where consuming is used as the mean to impact. To actively select products that represent certain values influence companies to work for those values. It is a free individualistic movement without rules. If asked to describe the typical political consumer it would be a young female with a higher education and thus, an income above average. The political consumer prefers to be involved in issues of personal interest rather than broad party politics. Companies are believed to contain a great deal of power in society and must therefore also obtain responsibility.

The problems associated to political consumerism are connected to poor information. Citizens may make wrong political decisions since the information presented to them is poor or faulty. Another problem is the lack of tools to measure political consumption; we do not know how important it is in comparison to other political activities.

It is difficult to compare traditional politics with political consumerism since they target different issues and work in different ways. However, political consumerism is not a threat to traditional politics and should instead be recognised as a compliment.

Den politiska utvecklingen i västvärlden håller på att förändras. Deltagandet i politiska partier och ideella organisationer minskar och denna individualistiska trend anses vara ett hot mot demokratin. Dock finns det forskare som hävdar att det politiska deltagandet påvisar en förändring till en ny typ av deltagande som kan stärka det demokratiska systemet.

De politiska partierna utgör basen för det demokratiska systemet. Partiets makt grundas i att representera medborgarna i beslutsprocessen. Trots det utvecklas partierna från organisationer med en klar koppling till sina kärnväljare till röstmaximerande organisationer som vill attrahera den breda massan. Eftersom partiernas mål är att få så många röster som möjligt har nya partier och andra politiska aktörer effektivt kvarhållits utanför systemet.

I den här uppsatsen observeras den individualistiska trenden genom politisk konsumtion. Den politiska konsumtionen beskrivs som en politisk aktivitet där konsumtion används som påverkningsmetod. Att aktivt välja produkter som representerar vissa värden påverkar företag att jobba mot dessa värden. Det är en fri och individualistisk rörelse utan klara regler. Den typiska polisiska konsumenten är en ung kvinna med högre utbildning och en inkomst över genomsnittet. De politiska konsumenterna föredrar att involvera sig i frågor av personligt intresse istället för bred partipolitik. Företag anses ha mycket i samhället och måste därför också ta ett ansvar.

Problemen med politisk konsumtion är kopplade till dålig information. Medborgare kan ta felaktiga politiska beslut när den disponibla informationen är dålig eller oriktig. Ett annat problem är att det saknas verktyg att mäta politisk konsumtion. Vi vet inte hur viktigt fenomenet är i förhållande till andra politiska aktiviteter.

Det är svårt att jämföra politisk konsumtion med traditionell politik eftersom de jobbar på olika sätt mot olika frågor. Hursomhelst, politisk konsumtion är inte ett hot mot traditionell politik utan bör snarare ses som ett komplement.

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Åström, Johanna. "Marriage, money and migration". Doctoral thesis, Umeå universitet, Institutionen för nationalekonomi, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-29881.

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The thesis consists of a summary and four self-contained papers. Paper [I] examines the effects of interregional migration on gross earnings in married and cohabiting couples. In particular, we examine the link between education level and income gains. We find that pre-migration education level is a key determinant of migration and economic outcomes and is also a determinant of the effect of migration on income distribution within the household. The positive average effect on household earnings is largely explained by income gains among highly-educated males. Females generally experience no significant income gain from migration in absolute terms. Paper [II] analyzes the effect of the spouse’s education on individual earnings. In this study, we control for time-invariant heterogeneity that may be correlated with the spouse’s education level and use a rich data set that includes observations of individuals when they are single and when they are married. The results support the hypothesis of cross-productivity for both males and females. Furthermore, couples with education within the same field experience even larger effects. In Paper [III] we aim to study how the spouse’s productivity in the labor market affects one’s own individual earnings when married. Using longitudinal data on individuals as both single and married allows us to estimate the spouses’ productivity as single persons and thereby avoid problems of endogeneity between the two spouses’ labor market performances. Productivity is approximated with residuals from estimates of pre-marriage earnings equations. Results indicate that there are negative effects of the spouse’s productivity on individual earnings for both males and females, and that this effect appears to be enhanced by the duration of the marriage. Paper [IV] studies spousal matching on earnings for females in secondorder marriages. We aim to follow women who marry, divorce, and subsequently remarry compared with females who marry and stay married over the course of the study interval. Overall, we find significant positive correlations for all three of the marital partitions. The correlation tends to be smaller for the first of a sequence of marriages for women who divorce than for women who marry and stay so. For the second of the successive marriages, however, the correlation of the residuals is larger than that for women who marry but once.

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Burgess, Lauren. "No Money in It". ScholarWorks@UNO, 2017. http://scholarworks.uno.edu/honors_theses/83.

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This project consists of nineteen poems produced during my undergraduate career at the University of New Orleans. Issues concerning the female body; science (particularly astronomy and evolutionary theory); and theories about the creative process, capitalism, and relationships characterize the themes of this manuscript. Some poems are clearly part of the same narrative, while others are composed in various modes: epistle, address, self-definition, elegy, and lyric. This thesis includes prose and emblematic forms; there are poems styled after other poets and one composed entirely of “found” sentences. The poems consider what it means to be a young poet in 2017—a time when the artist must constantly argue for the importance of art and herself in an increasingly tense political and socioeconomic environment. I plan to submit these poems to literary journals.

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Habte, Mebrahtu Bereket. "Money Transfer Management System". Thesis, Mittuniversitetet, Avdelningen för informations- och kommunikationssystem, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:miun:diva-26534.

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To guarantee the immediate and instant delivery of money transaction, it is essential to have a system that manages clients, agents and managers in one place. The objective of this project has been to study and develop an online remittance management system for a small business, that contains features to manage admins, agents, senders and beneficiarieswith different access level. The project user interface designed using bootstrap library and implemented on a popular PHP framework, Laravel. While the purpose of the project is to develop the system “Money Transfer Management System”, the evaluation process carried out based on user's privacy and security, functionality and usability test. The method used to solve the problem is the study and investigation of an initial set of requirement to identify the problem, application solution approach to divide the project into sub tasks, and application evaluation process to test and propose the result. On the other of technical side, object oriented programing technique in PHP, MySQL relational database, HTML5, CSS3 and JavaScript libraries used to solve the problem. The user of the system is able to create transactions with a unique reference id, pay out, cancel, edit and mange users data. The result of the study showed that, the system is secure against any injection or mass assignment attack.

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Dodd, Nigel Bruce. "Money in social theory". Thesis, University of Cambridge, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.239150.

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Gormez, Yuksel. "Topics in electronic money". Thesis, City University London, 2000. http://openaccess.city.ac.uk/8110/.

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There has been an increased interest on the electronification of payments systems in the last two decades in general and on electronic money (e-money) on particular in the last decade with increased computing power and decreased cost of communication. E-money did not only attract attention from the academicians but also from central bankers, financial supervisory authorities, treasuries, finance ministries and innovators and operators all around the world. The purpose of this thesis is fourfold. Firstly, it seeks to define and critically assess e-money including the expected functions, necessary features, its potentials and major implications for different sides of financial system. Secondly, it tries to present empirical evidence on the current stage of e-money technology with two case studies, namely Mondei and Digicash. Thirdly, it investigates the perception of e-money innovators and operators with an assumption that they have the power and influence on the future shape of e-money. This section includes the analysis of two European surveys and one additional comparative survey conducted in Miami, the US. Lastly, it studies the free banking implications of e-money covering the impact on monetary policy framework and monetary policy instruments including whether e-money should be regulated or not. The research finds that the current definitions given to the e-money phenomenon is incomplete and defines the necessary functions and features for the future success of e-money applications. It describes e-money trends in Europe and compares it to the US perception finding no serious differences although the FED and the ECB have different approaches to money. Another conclusion the thesis reached is that e-money may result in a new approach to central banking with a contestable framework through the synergies with free banking. Finally, e-money is not seen as a danger for the successful conduct of monetary policy and the thesis underlines that when it is `representative', regulation is possible whereas `independent'money issuance may manage to stay out of the coverage of conventional regulatory frameworks.

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Burgoyne, Carole B. "The meanings of money". Thesis, University of Bath, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.292071.

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Shvydka, M. V. "Money and its functions". Thesis, Видавництво СумДУ, 2012. http://essuir.sumdu.edu.ua/handle/123456789/26066.

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Even if you had all the other resources available to you, it still takes money to start a business. Although the crucial feature of money is its acceptance as the means of payment оr medium of exchange, money has other functions. It serves as a standard of value, a unit of account, a store of value and a standard of deferred payment. When you are citing the document, use the following link http://essuir.sumdu.edu.ua/handle/123456789/26066

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Öberg, Erik. "On Money and Consumption". Doctoral thesis, Stockholms universitet, Nationalekonomiska institutionen, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-142164.

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Price Level Determination When Tax Payments Are Required in Money. We formalize the idea that the price level can be determined by a requirement that taxes be paid in money. We show that if households have to pay a money tax of a fixed real value and the money supply is constant, there is a unique stationary price level, and a continuum of non-stationary deflationary equilibria. The non-stationary equilibria can be excluded if we introduce an arbitrarily lax borrowing constraint. Thus, in the basic model, tax requirements can uniquely determine the price level. When money has liquidity value, tax requirements can exclude self-fulfilling hyperinflations. The New Keynesian Transmission Mechanism: A Heterogeneous-Agent Perspective. We argue that a two-agent version of the standard New Keynesian model - where a "worker'' receives only labor income and a "capitalist'' only profit income - offers insights about how income inequality affects the monetary transmission mechanism. Under rigid prices, monetary policy has no effect on output as workers choose not to change their hours worked in response to wage movements. In the corresponding representative-agent model, in contrast, hours do rise after a monetary policy loosening due to a wealth effect on labor supply: profits fall, thus reducing the representative worker's income. If wages are rigid too, however, the monetary transmission mechanism is active and resembles that in the corresponding representative-agent model. Consumption Dynamics under Time-varying Unemployment Risk. We argue that adjustment frictions for durable goods generate a powerful amplification channel from fluctuations in unemployment risk to aggregate consumption demand. First, we use survey data to document that durable expenditures react strongly to increased unemployment risk, while the effect on nondurable expenditures is indistinguishable from zero. Second, we propose and calibrate a buffer-stock savings model that includes adjustment frictions for durable goods. Although not targeted in the calibration, we find that the model reproduces the semi-elasticities of expenditures to unemployment risk estimated in the data. Using the model, we find that the inclusion of adjustment frictions raises the aggregate demand response of durable goods to fluctuations in perceived unemployment risk by approximately 200 percent. Moreover, upon experiencing an adverse risk shock, the responsiveness of aggregate demand for durable goods to the interest rate and transitory income shocks is dampened. Consumption Dynamics under Time-varying Unemployment Risk: Evidence from Time Series Data. We investigate the relationship between consumption expenditures and unemployment risk using aggregate time series data for the US and ten EU countries. As a proxy for perceived unemployment risk, we use data on households' subjective expectations over the future unemployment rate. First, we employ a single-equation framework to test whether subjective unemployment expectations predict aggregate consumption growth when controlling for predicted aggregate income growth. Second, we exploit the timing of the survey interviews in relation to the publication of official statistics to isolate exogenous innovations to unemployment expectations in a small-scale vector autoregression. For the US, both methods suggest that there is a large effect of unemployment risk on aggregate consumption. For the ten EU countries, the evidence is mixed.

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Teles, Caio Augusto Colnago. "Money distribution with intermediation". reponame:Repositório Institucional do FGV, 2013. http://hdl.handle.net/10438/11188.

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Submitted by Caio Teles (caio_act@hotmail.com) on 2013-09-26T18:52:08Z No. of bitstreams: 1 Dissertação - Caio.pdf: 249330 bytes, checksum: a3aa165cfa955b84e1621a3c404da19c (MD5)
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This paper analyzes the distribution of money holdings in a commo dity money search-based mo del with intermediation. Intro ducing heterogeneity of costs to the Kiyotaki e Wright ( 1989 ) mo del, Cavalcanti e Puzzello ( 2010) gives rise to a non-degenerated distribution of money. We extend further this mo del intro ducing intermediation in the trading pro cess. We show that the distribution of money matters for savings decisions. This gives rises to a xed p oint problem for the saving function that di cults nding the optimal solution. Through some examples, we show that this friction shrinks the distribution of money. In contrast to the Cavalcanti e Puzzello ( 2010 ) mo del, the optimal solution may not present the entire surplus going to the consumer. At the end of the pap er, we present a strong result, for a su cient large numb er of intermediaries the distribution of money is degenerated.

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Stoltenberg, Christian. "Money talks and matters". Doctoral thesis, Humboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät, 2009. http://dx.doi.org/10.18452/16022.

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Wie sollten Zentralbanken Geldpolitik gestalten und der Öffentlichkeit kommunizieren, um die Ökonomie bestmöglich zu stabilisieren? Diese Dissertation, bestehend aus drei selbständigen Essays in dynamischer Makroökonomik, widmet sich in erster Linie dem normativen Aspekt von Geldpolitik. Das Hauptresultat im ersten Essay ist, dass bei idiosynkratischen Risiko die öffentliche Bekanntgabe von Informationen zu aggregierten Risiko einen negativen Effekt auf die soziale Wohlfahrt haben kann: durch die Veröffentlichung von Informationen zu nicht-versicherbaren aggregierten Risiko werden die Versicherungsanreize der Individuen verzerrt und damit das individuelle Konsumrisiko erhöht. Als eine Anwendung, analysieren wir die Situation einer Zentralbank, die die Möglichkeit hat, Veränderungen in ihren Inflationszielen anzukündigen und dokumentieren, das der negative Effekt der verzerrten Versicherungsanreize konventionelle positive Aspekte der Ankündigung überwiegt. In zweiten Essay untersuchen wir optimale Geldpolitik in Falle von nominalen Rigiditäten und einer Transaktionsfriktion. In einem Standardmodell, Money-in-the-Utility function, zeigen wir, dass das langfristige Optimum durch die Friedmansche Regel gegeben ist. Daraus folgt für die kurze Frist, dass das Primat von Geldpolitik auf die Stabilisierung der Zinsen und nicht auf Inflationsstabilisierung ausgelegt sein sollte. Im dritten Essay untersuche ich, ob die Existenz und die Terminierung von Realkasseneffekten eine wichtige Rolle für die Determiniertheit des allgemeinen Preisniveaus spielen. Als wichtigstes neues Resultat zeige ich, dass auch bei Zinspolitik ein eindeutiges Preisniveau bestimmt werden kann, wenn die Geldmenge zu Beginn der Periode in Transaktionen verwendet wird. Unter diesen Umständen, hat prädeterminiertes reales Geld die Funktion einer Zustandsvariable und die Zinspolitik sollte passiv sein, um eindeutige, stabile und nicht-oszillierende Gleichgewichtssequenzen zu erreichen.
How should central banks conduct and communicate their policies to serve the goal of stabilizing the macroeconomy? This thesis -- consisting of three self-contained essays on dynamic macroeconomics -- is mainly intended as a progress report on exploring the normative aspect of monetary policy. The main result of the first essay is, that in the presence of idiosyncratic risk, the public revelation of information about uncertain aggregate outcomes can be detrimental. By announcing informative signals on non-insurable aggregate risk, the policy maker distorts agents'' insurance incentives and increases the riskiness of the optimal allocation that is feasible in self-enforceable arrangements. We consider a monetary authority that may reveal changes in the inflation target, and document that the negative effect of distorted insurance incentives can very well dominate conventional effects in favor for the release of better information. In the second essay, we study optimal monetary policy with the nominal interest rate as the single policy instrument. Firms set prices in a staggered way without indexation and real money balances contribute separately to households'' utility. The optimal deterministic steady state under commitment is the Friedman rule for a broad range of parameters. Optimal monetary policy in the short run is then characterized by stabilization of the nominal interest rate instead of inflation stabilization as the predominant principle. In the third essay, I examine whether the existence and the timing of real balance effects contribute to the determination of the absolute price level. As the main novel result, I show that there exists a unique price level sequence that is consistent with an equilibrium under interest rate policy, if beginning-of-period money yields transaction services. Predetermined real money balances can then serve as a state variable, implying that interest rate setting should be passive -- a violation of the Taylor-principle.

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Chitsime, Collin Brian Sukali. "Mobile Money Payments as Vehicles for Money Laundering: A Case Study of Malawi". University of the Western Cape, 2016. http://hdl.handle.net/11394/5706.

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Magister Legum - LLM (Criminal Justice and Procedure)
Money laundering is defined as the process of converting the proceeds derived from a wide range of underlying criminal offences, called predicate offences, to apparently legitimate property. In other words, it is the process of washing away the stain of illegality from the proceeds of crime in order to give them the appearance of legality. In fact, the nomenclature of the practice itself was inspired by America�s notorious gangster Al Capone�s practice of channelling the proceeds of his criminal enterprise through his laundromats in order to cloak their illegality so as to endow them with an appearance of legality. The crime of money laundering has been a scourge on the economies of the world, hence it has become a crime of international concern. The international community has developed numerous international treaty norms obligating states to criminalise money laundering. These norms, when incorporated into national legislation, are expected to serve as the legal basis not only for national prosecution of money laundering offences but also for international mutual legal assistance in AML (for example, international co-operation in the confiscation of criminal proceeds and extradition of money launderers).

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Palmquist, Anna, i Sebastian Gersér. "Waste of money, or money of waste? Ekonomisk lönsamhet vid insamling av returmaterial". Thesis, Blekinge Tekniska Högskola, Institutionen för industriell ekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-12828.

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Den ökade konsumtionen i dagens samhälle leder till en större efterfrågan på nya råvaror. Samtidigt är jordens resurser begränsade och råvarupriserna höjs i samband med att resurserna håller på att ta slut. Därför är det viktigt att ta till vara på de resurser som finns genom att öka nyttjandegraden av material och sluta produkters livscykler, då kan materialet återvinnas och återanvändas vid tillverkning av nya produkter. Om tillverkande företag väljer att använda återvunnet material i sin produktion sparas jordens resurser in eftersom inte en lika stor mängd jungfruligt material behövs. Det bidrar till en ekologisk vinst som i vissa fall också kan leda till en ekonomisk vinst. Syftet med arbetet var att undersöka om materialåtervinningen kan göras ekonomiskt lönsam för de företag som väljer att sluta produkters livscykler och samla in returmaterialet. Detta genomfördes genom att undersöka vilka faktorer som påverkar den ekonomiska lönsamheten i värdekedjan och hur insamlingssystemet bör utformas för att maximera mängden insamlat installationsspill. För att kunna genomföra arbetet har vetenskaplig litteratur i form av rapporter och artiklar studerats för de ämnesspecifika områdena som studien behandlar, dessa stod till grund för rapportens teoretiska del. Sedan genomfördes en empirisk datainsamling i form av kvalitativ numerisk data, intervjuer hölls med golvläggare och logistikansvarig för extern returmaterialshantering. Utöver detta genomfördes observationer av uppvisade beteenden relaterat till insamling av installationsspill ute på byggarbetsplatser. En kvantitativ fältstudie genomfördes också som inkluderade respektive installationsprojekt. Resultatet av studien visar att generellt sätt är golvläggare positiva till att samla in returmaterial utan att företaget får betalt genom ekonomiska styrmedel så länge insamlingen inte medför något extra arbete. De resterande aktörerna i den omvända flödeskedjan har ett större ekonomiskt incitament än ett ekologiskt incitament till att medverka för att samla in returmaterial. Det försvårar för producenten att skapa en ekonomiskt lönsam returmaterialshantering då det skapas höga kostnader som produktens vinstmarginal ska klara av att täcka. Transport är den faktor som ackumulerar störst kostnad per insamlad enhet. För att sänka kostnaderna är det nödvändigt att returmaterial i höga kvantiteter och med hög kvalitet samlas in. Om ett företag lyckas skapa en lönsam returmaterialshantering kan det leda till minskade kostnader i form av material- och produktionskostnader. Resultatets betydelse från studien är viktig då det saknas studier som direkt behandlar och visar hur returmaterialshantering kan genomföras och göras ekonomiskt lönsam. Därmed bidrar studien till vidare diskussion och inspiration. Studien avgränsas till att analysera den ekonomiska lönsamheten av den externa returmaterialshanteringen.
The increased consumption in the modern society leads to a higher demand for new raw materials. At the same time, the earth's resources are limited and the prices increase when the resources decrease. Therefore, it is important to take advantage of the resources by increasing the utilization rate of material and close product lifecycles. The material can be recycled and reused in the manufacture of new products. If manufacturing companies choose to use recycled materials in their production the earth’s resources would be saved because less virgin material is needed. This contributes to an ecological profit which in some cases may also lead to a financial gain. The purpose of this work was to investigate whether recycling of materials could be economically profitable for the companies that choose to close product lifecycles and collect the end-of-use material. This was done by examining the factors that affect the economic viability of the value chain and how the collection system should be designed to maximize the amount of collected installation waste. In order to implement the work, scientific literature in the form of reports and articles are studied in the subject-specific areas that the study covers, these were the basis for the report's theoretical part. An empirical data collection was also done in the form of qualitative numerical data, interviews were held with flooring contractors and the logistics manager for external recycled material, and observations were conducted of exhibited behaviors related to the collection of installation waste out on construction sites. A quantitative field study was also conducted which included each installation project. The results of the study show that the flooring contractors are generally positive to collecting recycling material without any financial benefits as long as it does not involve any additional work. The remaining companies in the reverse supply chain have a higher financial incentive than an ecological incentive to participate and collect recycling material. This makes it difficult for the producer to create an economically viable collection system of recycling materials since it creates too high costs for the product's profit margin to be able to cover these costs. Transport is the factor that accumulates the highest cost per collected unit. To reduce the costs it is necessary to return material in high quantities and with high quality. If a company manages to create a profitable return of used materials it can lead to reduced costs in terms of material and production costs. The impact of the result is important because there are no or just a few previous studies that directly treat and show how a system of collecting recycling material can be implemented in a company and be economically viable. The study contributes to further discussions and inspiration. The study is limited to analyzing the economic viability of the external collection system of recycling material.

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Grunzke, Andrew Lawrence. ""Money! Money in Oz!" consumerism, communism, and the censorship of Baum's Oz books /". [Gainesville, Fla.] : University of Florida, 2006. http://purl.fcla.edu/fcla/etd/UFE0014345.

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Rector, Sarah Louise. "Benjamin Franklin's 1776 Continental currency design an American propaganda /". Access to citation, abstract and download form provided by ProQuest Information and Learning Company; downloadable PDF file, 64 p, 2007. http://proquest.umi.com/pqdweb?did=1338865471&sid=7&Fmt=2&clientId=8331&RQT=309&VName=PQD.

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Schnadt, Norbert. "Alternative monetary regimes : are they operational?" Master's thesis, University of Cape Town, 1990. http://hdl.handle.net/11427/15977.

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Bibliography: pages 77-82.
Although the proposed alternative monetary regimes have received critical attention from White (1984), McCallum (1985), O' Driscoll ( 1987) and Hoover ( 1988), we are not aware of any systematic and coherent critical appraisal. The main motivation for this paper is that neither the originators nor the critics seem thus far to have provided satisfactory treatments of the 'operationality' of the above proposals. Considering that most of the proposed payments systems are forwarded as potential alternatives to existing fiat currency systems, this is a serious shortcoming. For each proposed payments system that this paper considers, the analytical method which is adopted for this objective is as follows: (I) The institutional arrangements defining the proposed payments system are specified. (II) This payments system is then embedded in an economy in which pricing decisions are made by agents in decentralised markets.

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36

Summers, Katherine Elizabeth. "Money and meaning : how working-age social security recipients understand and use their money". Thesis, London School of Economics and Political Science (University of London), 2018. http://etheses.lse.ac.uk/3794/.

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This thesis explores how working-age social security money in the UK is understood and used from the perspective of its recipients, using an approach that emphasises the ‘social meaning’ of money. The thesis is motivated by two initial observations. On the one hand, politicians and policymakers have demonstrated an awareness that social security money has the capacity to carry and communicate social meaning. Yet, on the other hand, the mostly individualistic, asocial, perspectives of neoclassical and (more recently) behavioural economics, have continued to dominate the way in which social security policy has been framed. Against this background, the main argument of the thesis is that both academics and policymakers have so far underestimated the social aspects of social security money on a micro level, within the lives of its recipients. A novel alternative perspective is proposed, drawing on insights from new economic sociology, that theorises social security money as constituted by social context, social relations, and social meanings. This theoretical perspective is explored empirically using in-depth, semi-structured interviews with 43 working-age social security recipients living in East London. The interviews are analysed using a form of thematic analysis. The empirical findings are presented in three main sections that address the participants’ experiences of claiming, organising, and spending social security money. Based on these empirical findings, the thesis argues that four key concepts can help to clarify how working-age social security money is understood and used from the perspective of its recipients. These are: supplication and earned entitlement; control and responsibility; dependence and independence; and administratively-defined need. The thesis concludes by showing the implications of these key concepts for how policymakers approach the design of social security payments specifically, and how they might better understand recipients’ experiences of social security policy more generally.

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37

Seixas, Luís Manuel Moutinho. "Money creation in ehe Euro (2007-2013) : an essay on the Theory of Money". Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7884.

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Mestrado em Economia Monetária e Financeira
A crise económica e financeira atingiu as economias dos Estados Unidos, do Reino Unido e do Euro, no pós 2007. A atividade dos bancos centrais ganhou novos contornos em resposta à turbulência nos mercados, e foram acionadas medidas não convencionais. As bases monetárias dos bancos centrais aumentaram, em disputa com o pensamento ortodoxo. Na crise, os erros dos agentes provaram os erros da teoria, e vice-versa. A moeda é ainda um véu para a corrente neoclássica, embora a discussão da austeridade europeia em tudo se dirija ao euro. Aqui será feita uma reavaliação da teoria da moeda, e adicionada uma proposta para a criação de um Tesouro Europeu comum, apontado à restruturação de dívida soberana e à aplicação de regulação económica no acesso a capital de base monetária.
The economic and financial crisis hit the US, British and Euro economies, in the post 2007 time. The activity of central banks gained new contours, in response to the markets turmoil, and unconventional measures were set up. Central banks? monetary base expanded, in defiance of orthodox reasoning. In crisis, the agents? errors proved the errors of theory, and vice-versa. Money is still a veil for the neoclassical mainstream, whereas the European austerity talk is all about the euro currency. Here will be made a reassessment of the theory of money and added a proposal for the creation of a common European Treasury, aimed at state-debt restructuration and application of economic regulation on base-money capital access.

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Cohen, Joshua. "Money, Politics, and Political Equality". MIT Press, 2001. http://hdl.handle.net/1721.1/5446.

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Meuller, Lars. "Essays on money and credit /". Göteborg : Nationalekonomiska institutionen, Handelshögsk, 2000. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=009181899&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.

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40

Fox, David Murray. "Tracing money at common law". Thesis, University of Cambridge, 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.361717.

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41

Zhang, Qing. "Demand for money in China". Thesis, University of Greenwich, 2006. http://gala.gre.ac.uk/8251/.

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This research investigates the long-run equilibrium relationship between money demand and its determinants in China over the period 1952-2004 for three definitions of money – currency in circulation m0, narrow money m1 and broad money m2. The appropriate dummy variable has been added into the functions to assess and evaluate effects of economic reform in China. The additional influences on money demand in China, such as wages, monetization process and saving effects are explored. The real wage index w, the ratio of urban population to total population ROP, the ratio of total deposit to currency DCR, and the ratio of total deposit to income RDG have been considered as additional variables in the same money demand functions. To test the stable long-run money demand functions, the Engle-Granger two-stage cointegration method (EGTS), Phillips-Hansen cointegration approach, Pesaran et al. (2001) ARDL cointegration procedure along with CUSUM and CUSUMSQ stability tests and Johansen Multivariate Cointegration procedures are employed. Granger Causality Test is applied to indicate either uni-directional or bi-directional causality exists in the variables. Wald tests for homogeneity and parameter constancy tests are employed in this study as well. The estimation results, especially the cointegration analyses show that the real money demand functions perform better than the nominal money demand functions. Narrow money demand m1 presents more satisfactory coefficients than the other two in terms of economic theory and econometric diagnostics. The stabilisation policy should primarily aim at the narrow money m1. This study reveals that the economic reform did bring significant changes to the Chinese economy. Income is shown to be the most important determinant of money demand. The other additional variables also have significant effects on the money demand. The wage index influence on money demand models is important. The raise of monetization process made the money play a more vital role. The impact of ratio of total deposit to income is significant.

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42

Bateman, William. "Parliamentary control of public money". Thesis, University of Cambridge, 2018. https://www.repository.cam.ac.uk/handle/1810/286229.

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This dissertation analyses the idea that parliament controls public money in parliamentary constitutional systems of government. That analysis proceeds through an historical and contemporary examination of the way legal practices distribute authority over public money between different institutions of government. The legislative and judicial practices concerning taxation, public expenditure, sovereign borrowing, and the government financing activities of central banks are selected for close attention. The contemporary analysis focuses on the design and operation of those legal practices in the United Kingdom and the Commonwealth of Australia, in the context of the boom-bust-recovery economic conditions experienced between 2005 and 2016. The dissertation's ultimate claims are explanatory: that "parliamentary control" is a poor explanation of the distribution of financial authority in parliamentary systems of government and should be jettisoned in favour of an idea of "parliamentary ratification". An empirically engaged methodology is adopted throughout the dissertation and (historical and contemporary) public sector financial data enrich the legal analysis. The dissertation acknowledges the impact of, but remains agnostic between, different economic and political perspectives on fiscal discipline and public financial administration. The dissertation makes a number of original contributions. It provides a detailed examination of the historical development, legal operation and constitutional significance of annual appropriation legislation, and the legal regimes governing sovereign borrowing and monetary finance. It also analyses the way that law interacts with government behaviour in situations of economic emergencies (focusing on the Bank of England's public financing activities since 2008), and the institutional and doctrinal obstacles facing judicial involvement in disputes concerning public finance (focusing on the Australian judiciary's recent engagements with public expenditure legislation).

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Kwak, Seung Ki. "Institutional theory of naive money". Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/120202.

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Thesis: Ph. D., Massachusetts Institute of Technology, Sloan School of Management, 2018.
Cataloged from PDF version of thesis.
Includes bibliographical references.
In the first chapter, I propose a theoretical framework to elucidate how capital from unsophisticated investors (naive money) is associated with fund performance dynamics. In the framework, when naive money invested in a fund exceeds the ideal amount for the manager's skill, it leads funds to under-perform persistently. In contrast, the model predicts that, when the amount of invested naive money is smaller than the ideal size of a fund reflecting the manager's skill, the fund performs the same as the market on a risk-adjusted basis. Empirical results using mutual fund data support this prediction. In the second chapter, I develop a model that characterizes how naive money influences the decisions of active mutual fund managers: in particular, managerial effort, fees, marketing expenses, private benefit-seeking, and risk-taking. My model predicts that managers who receive a surplus of naive money are inclined to reduce their managerial effort, charge higher fees, allocate more resources towards marketing, and pursue their private benefit by sacrificing returns to investors. In addition, it also predicts that a manager is most likely to increase idiosyncratic risk when the amount of invested naive money gets closer to a certain size of the fund that reflects the manager's skill. In the third chapter, I build a model to study how naive money affects funds' survivorship and entry decisions. Sufficient capital provision from unsophisticated investors elongates the survival of unskilled managers. Competition among funds determines the industry equilibrium, and the equilibrium is affected by several key market conditions: the aggregate investment opportunities, the aggregate capital inflows from unsophisticated investors, and the supply of skilled managers. When AM markets are heterogeneous in investor sophistication, the model shows, AM markets with more sophisticated investors (say, hedge fund markets) differentiate from those with less sophisticated investors (say, mutual fund markets). Skilled managers generate more value in hedge fund markets, and choose to enter those markets.
by Seung Ki Kwak.
1. Theory and Evidence: Mutual Fund Performance Dynamics -- 2. IO of Active Mutual Funds -- 3. IO of the Active AM Industry: Entries and Exits.
Ph. D.

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44

Shen, Fangfei S. M. Massachusetts Institute of Technology. "Money for the big eyes". Thesis, Massachusetts Institute of Technology, 2012. http://hdl.handle.net/1721.1/77472.

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Thesis (S.M. in Science Writing)--Massachusetts Institute of Technology, Dept. of Humanities, Graduate Program in Science Writing, 2012.
Cataloged from PDF version of thesis.
Includes bibliographical references (p. 45-49).
Since ancient civilization, humanity has kept its eyes on the heavens, and the invention of telescopes has only increased its scrutiny. As astronomers strive to see the universe with increasing clarity, telescopes have been getting bigger, better, and more expensive. The astronomy community is currently preparing for the next generation of ground-based optical telescopes: giant behemoths that will have mirrors of over twenty meters in diameter, set atop of high, dark mountains. Technological advancements have finally made it possible to create telescopes this large, and they will be able to view the skies ten times more sharply than the Hubble Space Telescope. Once completed in a decade or so, these telescopes will shine light on our most pressing questions in astronomy. However, with price tags of around a billion dollars each, raising the money to build them is a challenge. This thesis explores the technology behind the extremely large telescopes and the politics behind their funding. Telescope research began as private ventures, the Medici family's patronage of Galileo being a famous historical example. Today, the story is not so simple, involving public governments, international collaborations, and endless fundraising. While over a dozen different extremely large telescopes have been proposed in the last two decades, only three remain as viable ventures: the Giant Magellan Telescope, the Thirty Meter Telescope, and the European Extremely Large Telescope. This thesis recounts their unfinished story.
by Fangfei Shen.
S.M.in Science Writing

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45

Briglevics, Tamas. "Essays on Money and Credit". Thesis, Boston College, 2014. http://hdl.handle.net/2345/bc-ir:103546.

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Thesis advisor: Peter N. Ireland
Thesis advisor: Susanto Basu
My dissertation analyzes U.S. consumers' use of money and credit as means of payment and, in the case of credit cards, as a device that aids inter-temporal consumption smoothing. Money demand has received little attention in the literature lately, especially when compared to earlier decades, but our work with Scott Schuh shows that the proliferation of the ways consumers can make payments has important implications for the demand for various liquid assets. Therefore, accurate estimates of the demand for liquid asset needs to take payment instrument adoption and use into account. Data collected by the Consumer Payments Research Center of the Federal Reserve Bank of Boston provides a good starting point for such analysis, as shown in the first two chapters of the dissertation. The final chapter analyzes another aspect of consumer credit, namely, it's usefulness in smoothing income fluctuations. This model is interesting because for agents in the model to use credit for consumption smoothing it has to be defaultable. The default option, however, induces a moral hazard problem: The additional insurance from bankruptcy protection leads to lower precautionary saving than in a similar model with no credit (or, equivalently, with non-defaultable credit). In general equilibrium, however, this decrease in savings leads to a lower aggregate capital stock and hence wages. In the calibration, the introduction of unsecured consumer credit results in a significant welfare loss in the economy as a whole. The first chapter, joint with Scott Schuh, estimates U.S. consumers' demand for cash using a new panel micro data for 2008--2010, employing econometric methodology similar to that in Mulligan and Sala-i-Martin (2000); Attanasio et al. (2002); and Lippi and Secchi (2009). We extend the Baumol-Tobin model to allow for credit card payments and revolving debt, as in Sastry (1970). With interest rates near zero, cash demand by consumers using credit cards for convenience (without revolving debt) has the same small, negative, interest elasticity as estimated in earlier periods and with broader money measures. However, cash demand by consumers using credit cards to borrow (with revolving debt) is interest inelastic. These findings have implications for the welfare cost of inflation because the nontrivial share of consumers who revolve credit card debt are less likely to switch from cash to credit. Our estimation also shows that accounting for the heterogeneous transactions costs that consumers face, when getting cash from bank and nonbank sources, is essential to identify cash demand properly. The second chapter, also joint with Scott Schuh, looks at consumers' demand for transactions balances at an even more granular level than the first chapter. Using the 2012 Diary of Consumer Payment Choice (DCPC), we first document the substantial changes in payment instrument use of U.S. households compared to the results in Klee (2008) (which were based on data from 2001): Checks have virtually disappeared from purchase transactions, while still play a role in bill payments. Cash, on the other hand, still plays a large role for low-value transactions. Then we proceed to jointly analyze payment instrument use and consumers' demand for liquid assets. Results indicate that payment instrument choice is an integral part of consumers' cash management practices and hence cash demand; therefore, contrary to simple Baumol-Tobin models, they should be analyzed together. The final chapter in the dissertation is admittedly different from the previous two. While credit cards, more precisely unsecured consumer credit, is still the object of the analysis; the main focus is not on its role in settling transactions but on its role in inter-temporal consumption smoothing. In particular, the unsecured nature of credit card loans enable households to smooth consumption even in the face of large income disruptions, since bankruptcy protection provides them a way out of the mounting debt burden if their income stream deteriorates for too long. In fact, consumer defaults in the United States are counter-cyclical, suggesting that households use bankruptcy protection as a way to smooth consumption in the face of aggregate shocks. This chapter analyses the value of the option to default in a computable general equilibrium model similar to Krusell and Smith (1998). Model simulations show that unsecured borrowing helps the poorest consumers maintain a more stable consumption path when compared to an economy without bankruptcy and hence borrowing. For the economy as a whole, this utility gain, however, is offset by the effects of a declining average wage, resulting from a smaller aggregate capital stock, as consumers are less inclined to self-insure against income shocks in the presence of the option to default. This hits asset-poor households in the middle of the wealth distribution
Thesis (PhD) — Boston College, 2014
Submitted to: Boston College. Graduate School of Arts and Sciences
Discipline: Economics

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46

Greenacre, Jonathan. "The regulation of mobile money". Thesis, University of Oxford, 2017. https://ora.ox.ac.uk/objects/uuid:6e559504-ac6f-47ac-8a32-c0030f963d3f.

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This thesis examines the regulation of 'mobile money'. This is an electronic payment and storage service provided by phone companies ('mobile money firms' or 'MM firms'). The first mobile money service, M-Pesa, was launched in Kenya in 2007. Since then, mobile money has spread rapidly throughout the developing world, particularly across Africa. A novel feature of mobile money is its ability to serve large numbers of people who do not have bank accounts, commonly labelled 'the unbanked'. The thesis offers a framework, based on a functional approach, to analyse the key regulatory and policy issues that arise when customersâ funds are stored and transferred within mobile money platforms. The objectives of this framework are drawn from traditional financial regulation, such as financial stability and consumer protection, and 'financial inclusion', which involves connecting the unbanked to formal, electronic payment and storage functions. The thesis makes three main claims. First, mobile money operates as a shadow retail deposit system. Mobile money is 'shadow' because a customer contracts with a non-banking firm. It is 'retail' because the system meets the payment needs of individuals for ordinary transactions. And the service is a 'deposit' system because a mobile money account provides payment and storage functions which are functionally equivalent to a bank deposit. Second, mobile money provides these payment and storage functions, functionally equivalent to a bank deposit, through a different legal structure to that used by a bank to provide deposit account services. This structure, which is established through private ordering, comprises a set of mechanisms by which the MM firm (the 'agent' in the service) and its associates credibly commit to safeguard the funds of the mobile money customers (the 'principals') for the purposes of providing payment and storage functions. Collectively, these commitments require the MM firm to maintain a 1:1 relationship between cash received from customers, which is stored within the system as highly liquid assets, and 'e-money' which customers use in the mobile money service. As a result, mobile money customers face primarily operational risks, usually without the credit and liquidity risks associated with banking. Third, public ordering can increase the efficiency of MM firms' commitments in addressing risks in mobile money platforms through adopting an 'active' approach to regulation. In this approach, the policymaker monitors a greater range of risks and more closely than what might be expected in other comparable principal-agent relationships, such as retail investors and financial intermediaries, and depositors and banks. This approach is appropriate because unbanked customers are likely to face significant information asymmetries with MM firms and coordination problems amongst themselves. This means they are unlikely to effectively monitor a range of risks to the service caused by the MM firm and its associates.

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47

Teichmann, Fabian M., i Madeleine Camprubi. "Money laundering through consulting firms". Universität Leipzig, 2019. https://ul.qucosa.de/id/qucosa%3A36368.

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The aim of this article is to illustrate potential conduits for money laundering in the consulting sector in Austria, Germany, Liechtenstein, and Switzerland. A qualitative content analysis of 100 semi-standardized expert interviews with both criminals and prevention experts was conducted, along with a quantitative survey of 200 compliance officers, allowing for the identification of concrete methods of money laundering in the consulting sector. Due to their excellent reputation, consulting companies in German-speaking countries in Europe continue to be extraordinarily attractive to money launderers. Most notably, they can be used for layering and integration, as well as for working around various issues with tax codes. As the qualitative findings are based on semi-standardized interviews, they are limited to only the 100 interviewees’ perspectives. The identification of loopholes and weaknesses in the current anti-money laundering mechanisms is meant to provide compliance officers, law enforcement agencies, and legislators with valuable insights into how criminals operate, with the aim of helping them to more effectively combat money laundering. While the previous literature focuses on organizations fighting money laundering and on the improvement of anti-money laundering measures, this article illustrates how money launderers operate to avoid arrest. Prevention methods and criminal perspectives are equally taken into account.

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48

Andersson, Sophie, i Marika Pålsson. "Följ pengarna! /Follow the money!" Thesis, Malmö högskola, Lärarutbildningen (LUT), 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-31121.

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En lärare har ett tidspressat schema och ibland kan det underlätta att få inspiration från andra läraretill undervisningen. Vi har därför valt att göra en arbetsplanering om pengars historia. Somarbetsmetod har vi använt oss av Storylinemetoden. Storyline berättelsen tar oss med på en resatillbaka till 1900 – talets början. Två barn från 2009 lär sig om hur livet såg ut för människortidigare men även de problem som fortfarande finns i vårt samhälle.
Through pedagogical theories, the debated thoughts of history-awareness and the Storyline-method, an essay about how a history-lesson or theme-planning could be made from the concept of money.

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49

Chou, Nan-Ting. "The demand for Divisia money /". The Ohio State University, 1986. http://rave.ohiolink.edu/etdc/view?acc_num=osu1272458126.

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50

Dusabe, Francis. "Rwanda’s responses to money laundering". University of the Western Cape, 2014. http://hdl.handle.net/11394/4404.

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Magister Legum - LLM
In 20 the years after the genocide that afflicted Rwanda, the country has made considerable progress towards developing human resources in the public sector. It has kick-started its economy and improved sectors such as public health and education. There is still a need to attract direct foreign investment to boost the economy even further. However, Rwanda needs to take precautionary measures to ensure that it does not fall prey to economic criminality which will impede its economic progress. The fact of the matter is that young transitional democracies are prone to attract economic delinquents who take advantage of loopholes in the law to advance their criminal goals. This is particularly so in a country such as Rwanda, where the government has to prioritise other pressing needs that must be addressed. This paper assesses the extent to which Rwanda is prepared to deal with the menace of money laundering, a threat that may well stunt its ambitions to build a strong economy.

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