speculation, or have actual utility on their underlying platforms. The objective of this study is to create and validate a set of … granular measures of token utility and speculation. Using disaggregated data on 270 million transactions in 891 tokens hosted … on the Ethereum blockchain, we construct three intuitive measures of token utility and speculation: utility turnover (UT …

towards increasing the opportunities for speculation rather than risk sharing …While the traditional view of financial innovation emphasizes the risk sharing role of new financial assets, belief … disagreements about these assets naturally lead to speculation, which represents a powerful economic force in the opposite direction …

We provide a continuous-time “risk-centric” representation of the New Keynesian model, which we use to analyze the … interactions between asset prices, financial speculation, and macro- economic outcomes when output is determined by aggregate … heterogeneous asset valuations) matter because they induce investors to speculate. This speculation exacerbates the crash by …

than precautionary saving,speculation is the underlying motive that drives firms to increase their non-currency financial …

To date, readers of financial statements are not able to identify speculation as risk-increasing activity from public … identification of speculative activities. Further, we help solve the puzzle of the determinants of speculation and find that frequent …