1,671 research outputs found

    On the threat of counterfeiting

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    We study counterfeiting of currency in a search–theoretic model of monetary exchange. In contrast to Nosal and Wallace (2007), we establish that counterfeiting does not pose a threat to the existence of a monetary equilibrium; i.e., a monetary equilibrium exists irrespective of the cost of producing counterfeits, or the ease with which genuine money can be authenticated. However, the possibility to counterfeit ?at money can affect its value, velocity, output and welfare, even if no counterfeiting occurs in equilibrium. We provide two extensions of the model under which the threat of counterfeiting can materialize: counterfeits can circulate across periods, and sellers set terms of trades in some matches. Policies that make the currency more costly to counterfeit or easier to recognize raise the value of money and society’s welfare, but the latter policy does not always decrease counterfeiting.Counterfeits and counterfeiting

    Information, Liquidity, Asset Prices and Monetary Policy, Second Version

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    What determines which assets are used in transactions? We develop a framework where the extent to which assets are recognizable determines the extent to which they are acceptable in exchange - i.e., their liquidity. We analyze the effects of monetary policy on asset markets. Recognizability and liquidity are endogenized by allowing agents to invest in information. There can be multiple equilibria with different transaction patterns. These transaction patterns are not invariant to policy. We show small changes in information that may generate large responses in prices, allocations and welfare. We also discuss issues in international economics, including exchange rates and dollarization.Money, Asset Pricing, Liquidity

    Gastronomic events in the function of creating a brand of a tourist destination: The example of strudel festival in Dolovo

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    Gastronomic events in recent years represent a very significant segment for the development of tourism. There are numerous events traditionally taking place in Vojvodina. Each of these events is unique and represents a rich variety of customs, culture and traditions. The authentic gastronomic offer, which is promoted through these events, is an important segment for creating a brand of a particular place and tourist destination. The aim of this study is to investigate the recognizability of the Strudel festival in Dolovo, as well as the authenticity of this gastronomic event, in terms of creating a brand of the tourist destination. The research was carried out using the survey method, through a questionnaire, on a sample of 150 respondents. Based on the collected data, using statistical methods of binary logistic regression, chi-square and Fisher's test, the analysis was performed and the results were presented. The results of the research show that the Strudel festival in Dolovo and its brand - strudels - have a high level of recognizability among visitors. However, the Strudel festival in Dolovo should be promoted more intensively, as it is currently recognized locally, and has the potential to attract more tourists.Publishe

    Culture as accent

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    Ensuring the authenticity of the conservation and reuse of modern industrial heritage architecture: a case study of the large machine factory, China

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    The Large Machine Factory (LMF) was built in the complex historical context of the late Qing Dynasty (1840–1912). Its space and construction faithfully record the architectural and cultural fusion between Chinese and western traditions and mark the beginning of modern architectural techniques in China. Through historical data and empirical studies, the historical background and architectural characteristics of the LMF were analyzed, and interventions aimed at ensuring authenticity were established. The cultural significance and results of construction were considered two crucial elements in terms of outstanding characteristics. Comprehensive inspection and assessment strategies were discussed, with minimal intervention and interpretation principles. Preventive reinforcement of the foundation, complementary reinforcement of the main structures, restoration of the historic façade and environment, and adaptive spatial interventions were found to be effective ways to ensure authenticity. The principles of minimal intervention and interpretability, which include prevention, recognizability, invisibility, subsidiarity, and intertextuality, were proposed through a comparison with the literature and practical experience. This study provides an appropriate technical reference for ensuring authenticity in the conservation and reuse of modern historic buildings with complex contexts. We propose a new understanding of intervention principles and suggest a guiding intervention path that avoids the complexities arising from the generalized interpretations of authenticity.Postprint (published version

    Public spaces of Montenegrin cities' coasts: a case study

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    The paper analyzes and investigates the potentials and limitations of public spaces in cities’ coasts of Montenegro in a mountainous and coastal context. Emphasis is placed upon the littoral. New criteria for the study of public open space and revitalizing environment models in the context of establishing a balance between the natural and built, are being explored and defined, as well bringing about the attractiveness which is necessary for the development of tourism as the main economic activity in Montenegro. The diversity of beaches, their potential as well as natural values and geographical specificity of the Montenegrin space, require thoughtful engagement in the shaping and development of a touristic environment. Montenegro has not used the potentials of public spaces of the coast. A lack of harmony and order is expressed, as well as the small number of attractive contents in multiple segments. The intensive construction, mass tourism, degradation and devastation of space at the beginning of the 21st century point out the need for a solid strategy for reconstruction and sustainable development of the area.Peer Reviewe

    Bangus (Chanos Chanos) Fry Counter

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    Agriculture has a key role in the Philippines economy, particularly the fisheries industry, which contributes 15% of the country’s overall income. The sector offers significant employment and income for various parts of population, contributes to export earnings, and meets a large portion of the population’s nutritional protein requirements. In terms of employment, the fisheries sector employs over one million people, or about 5% of the nation. The general objective of the study is to develop a portable bangus fry counter for the University of Antique – Hamtic Campus, Hamtic, Antique, and an affordable fry counter for the local fish fry vendor, fish pond owner and others that can benefit in this thesis. The researchers used the Arduino for the operating system and the light censor for the input and the LCD for the output. For the data gathering, the researchers used the ISO 25010 characteristic, the weighted mean formula to solve the mean and the Likert scale. The prototype showed excellent performance in terms of counting the bangus fry quantities. Based on the results of the evaluation, the participants strongly agreed with the functionality, reliability, portability, maintainability, security, compatibility, performance efficiency and usability of the device.Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP) © Copyright: All rights reserved

    Neoliberal Logics of Voice: Playback Singing and Public Femaleness in South India

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    This article explores the impact of neoliberal logics of voice on the music - making and performance practices of female playback singers in the South Indian Tamil film industry. As singers whose voices are first recorded in the studio and then “played back” on the set to be lip-synched by actors, playback singers have been professional musicians and public celebrities since the 1950s. Their careers are governed by practices of voice cultivation and by modes of performance and public self-presentation, in the studio, on stage, and increasingly in mediatized contexts. Since the 1990s, neoliberal logics of flexibility, entrepreneurship and self-marketing have redefined the role of the playback singer and the way singers conceive of their work in both social and aesthetic terms. These changes have occurred within a broader context in which anxieties about globalization and expanding commodity culture are reflected in debates about the place of women in public
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