This paper surveys the capacity of simple macroeconomic models - ”three easy pieces” - to account for persistent and positive valuations of privately issued assets based on the blockchain. Each of these three models - transactions demand for a means of payment, consumption-based capital...

We use an updated version of the Austrian Long-run Macroeconomic Model (A-LMM) for a long-term projection of the Austrian economy until 2075. Our baseline scenario is the input for microsimulation models of the Austrian pension insurance system. A-LMM 2.0 is a neoclassical growth model using...

We study the macroeconomic and social effects of Universal Basic Income (UBI) programs in a developing economy, comparing them with policies that condition cash transfers on household characteristics (CCT). We construct a dynastic heterogeneous-agent model with human capital investment and...