Issue 1 (April)

Vol. 2 (2023), FEL

5 articles

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Open Access Letter
Time-frequency dependency between stock market volatility, and Islamic gold-backed and conventional cryptocurrencies
by Md. Mamunur Rashid  and  Md. Ruhul Amin
FEL  2023 2(1):6; 10.58567/fel02010001 - 03 April 2023
Abstract
We extend the Shariah-compliant digital assets and Islamic Fintech literature through exploring the time-frequency associations between the volatility index (VIX) and cryptocurrencies (both Islamic and traditional). Employing wavelet-based technique, we find that Islamic cryptocurrencies demonstrate low or no coherency with stock market volatility compared to traditional crypto [...] Read more
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Open Access Letter
Transforming personal finance thanks to artificial intelligence: myth or reality?
by Edouard Augustin Ribes
FEL  2023 2(1):7; 10.58567/fel02010002 - 04 April 2023
Abstract
Current societal challenges related to retirement planning, healthcare systems’ evolution and environmental changes require households to pay a closer attention to their personal finances. This in turns calls for the associated industry to transform and scale. To do so, the personal finance industry could potentially leverage artificial intelligence tools for which there [...] Read more

Open Access Letter
The FED’s Strategy on a Targets-based Monetary Policy Framework
by Florian Gerth  and  Yiyang Bian
FEL  2023 2(1):8; 10.58567/fel02010003 - 21 June 2023
Abstract
Major economic and financial contractions usually go hand-in-hand with muted inflation. This has been true for the Great Depression, the Global Financial Crisis, as well as the Covid-19 crisis. In this paper, we theoretically highlight and discuss the evolution of instruments and approaches monetary-policy decision makers at the Federal Reserve have in lifting inflation to desi [...] Read more
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Open Access Letter
Money holding and budget deficit in a growing economy with consumers living forever
by Yasuhito Tanaka
FEL  2023 2(1):9; 10.58567/fel02010004 - 14 September 2023
Abstract
I examine the problem of budget deficit in a growing economy in which consumers hold money as a part of their savings in the case where consumers live forever. For simplicity and tractability I use a discrete time dynamic model and Lagrange multiplier method. In the appendix I briefly explain the solution using a discrete time version of the Hamiltonian method. I will show the [...] Read more

Open Access Letter
Government deficit and “The World’s smallest macroeconomic model” by Paul Krugman
by Yasuhito Tanaka
FEL  2023 2(1):10; 10.58567/fel02010005 - 14 September 2023
Abstract
In his "The World’s smallest macroeconomic model” (Krugman (1999)), Paul Krugman argued that under the assumption of price rigidity, a shortage of money supply leads to underemployment or recession, so increasing money supply can eliminate underemployment and restore full employment. But, how do we increase the money supply? I will show that we need a government def [...] Read more
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