Thèse--Université de Genève. / Includes bibliographical references.

Thesis--Columbia University, 1928. / Includes index. Vita. Published also without thesis note. "Latin text of De monetae mutatione": p. [241]-306. Bibliography: p. 305-314.

Thesis (M.Phil.)--Hong Kong University of Science and Technology, 2005. / Includes bibliographical references (leaves 31-32). Also available in electronic version.

Thesis (Ph. D.)--Ohio State University, 2005. / Title from first page of PDF file. Document formatted into pages; contains xii, 178 p.; also includes graphics (some col.). Includes bibliographical references (p. 115-128). Available online via OhioLINK's ETD Center

Thesis (Ph.D.)--Kent State University, 2006. / Title from PDF t.p. (viewed Oct. 16, 2006). Advisor: Christina Haas. Keywords: visual rhetoric; European integration; euro; multimodal discourse; presence. Includes bibliographical references (p. 179-185).

Thesis (Ph.D.)--York University, 2005. Graduate Programme in / Typescript. Includes bibliographical references (leaves135-144). Also available on the Internet. MODE OF ACCESS via web browser by entering the following URL: http://wwwlib.umi.com/cr/yorku/fullcit?pNR11578

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 customers’ 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.

No description available.

This dissertation is a collection of three chapters on inflation dynamics and money demands. Chapter 1 tests the forward-looking New Keynesian Phillips curve using a novel panel data set for the 50 U.S. states from year 1977 to 2005. Consistent with Gali and Gertler (1999), our results support a linkage between inflation and real unit labor cost, and reject a linkage between inflation and output gap. We also address several important econometrics issues in the empricial studies. Our tests on model identification and instruments validity reveal that compared with the model with real unit labor cost, the GMM estimators in the model with output gap are more sensitive to the choice of instruments. Also, we find that the unit labor cost has stronger persistence than the output gap, and that these two variables have almost opposite dynamic cross correlations with inflation. We conclude that the observed high autocorrelation properties of U.S. inflation-as measured by the sum of AR coefficients-is well described by the forward-looking New Keynesian Phillips curve. In the second chapter, we extend the pure forward-looking New Keynesian Phillips curve to a hybrid model. We adopt a dynamic panel data model by adding a lagged inflation variable to the explanatory variables. We find relative larger weights of future inflation than the lagged inflation. This finding confirms the forward looking behavior in theory and it is also consistent with our results from the pure forward-looking model estimation. Furthermore, we obtain more evidence of dominant forward-looking behavior by using the principal components based instruments. Our results show that principal components based methods produce more precise estimates with a substantial decrease in all three estimated standard errors. We obtain more evidence of dominant forward-looking behavior across all regressions. By comparing two groups of the Kleibergen-Paap Wald F rk statistic (KP statistic), we find that using principal components is a good option to overcome the weak identifications. This finding is consistent with Bai and Ng (2010) and Kapetanios and Marcellino (2010). However, contrast with our earlier findings, in the hybrid model, the identification of the parameter of the real marginal cost becomes a problem. The third chapter investigates the long-run money demand using a panel data set for the 50 U.S. states from year 1977 to 2005. Regional heterogeneity as well as the cointegration and cross-section correlation properties of panel data are considered in great detail. Contrary to previous studies in the field, we adopt panel data techniques with nonstationary and cointegrated variables which controls for dynamics, non-stationarity, parameter heterogeneity and unobserved time-varying heterogeneity. The empirical results reveal an income elasticity close to 0.7 and an interest semi-elasticity around -0.02 and these two parameter values match closely with the empirical estimates by Ball (2001). Furthermore, it is found that the magnitude of the estimates of error correction term is much less than unity (around 0.05), which suggests that the adjustment time of U.S. money demand to return to its long-run equilibrium may be rather long. Compared to a standard homogeneous panel model of money demand function, our results obtained from heterogeneous panel model estimation indicate that the heterogeneity across states is important. It shows that the observed instability of money demand functions in aggregate U.S. studies could be explained by inappropriate aggregation across heterogeneous states. After accounting for regional heterogeneity, the estimates of income elasticity for the U.S. money demand function are clearly less than one.

Two adults with intellectual disabilities were taught practical money skills within a stimulus equivalence training procedure taken from the PEAK equivalence relational training system. The participants were taught to accurately count and select combinations of money of five different values, in the presence of an object worth a specific value and combinations of coins worth the same value. The results of this study found that the PEAK program 12L: Monetary Exchange was successful in training two adults with intellectual disabilities and other co-occurring disorders how to accurately count five values as well as derive relations between two values and an object. The first participant mastered two complete levels of stimuli whereas the second participant mastered on complete level of stimuli before training was terminated due to behavioral variables.