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Are Cryptocurrencies Currencies? Bitcoin as Legal Tender in El Salvador
Alvarez, Fernando E.; Argente, David; Van Patten, Diana - National Bureau of Economic Research - 2022
This paper studies the potential of a cryptocurrency to become a medium of exchange. We use evidence from a natural experiment: In September 2021, El Salvador became the first country in the world to make bitcoin legal tender, and all economic agents were required to accept bitcoin for all...
Persistent link: https://www.econbiz.de/10013191063
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Is Digital Credit Filling a Hole or Digging a Hole? Evidence from Malawi
Brailovskaya, Valentina; Dupas, Pascaline; Robinson, … - National Bureau of Economic Research - 2021
Digital credit has expanded rapidly in Africa, mostly in the form of short-term, high-interest loans offered via mobile money. Loan terms are often opaque and consumer financial literacy is low, providing opportunities for predatory lending. A regression discontinuity analysis shows no negative...
Persistent link: https://www.econbiz.de/10012794601
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Central Bank Digital Currency : Central Banking For All?
Fernández-Villaverde, Jesús - 2020
The introduction of a central bank digital currency (CBDC) allows the central bank to engage in large-scale intermediation by competing with private financial intermediaries for deposits. Yet, since a central bank is not an investment expert, it cannot invest in long-term projects itself, but...
Persistent link: https://www.econbiz.de/10012479277
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Decentralized Mining in Centralized Pools
Cong, Lin William - 2019
The rise of centralized mining pools for risk sharing does not necessarily undermine the decentralization required for permissionless blockchains: Each individual miner's cross-pool diversification and endogenous fees charged by pools generally sustain decentralization, because larger pools...
Persistent link: https://www.econbiz.de/10012479545
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Mobile Money and Healthcare Use : Evidence from East Africa
Ahmed, Haseeb - 2019
This paper uses a difference-in-difference framework to estimate the effects of mobile money transfer technology (MMT) on healthcare usage in the face of negative health shocks. We use survey data from 2013-16 with quarterly observations on about 1,600 households of 10 villages in the Kisumu...
Persistent link: https://www.econbiz.de/10012479620
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Can Mobile-Linked Bank Accounts Bolster Savings? Evidence from a Randomized Controlled Trial in Sri Lanka
De Mel, Suresh - 2018
In developing economies, mobile-linked services have the potential to significantly reduce transaction costs and … generally, but no change in overall savings deposits. When the transaction costs are completely removed, only 26 percent of … those offered the service use it, and 7 percent use it frequently. Overall, our results imply that transaction costs may not …
Persistent link: https://www.econbiz.de/10012481004
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Tokenomics : Dynamic Adoption and Valuation
Cong, Lin William - 2020
lowers users' transaction costs on the platform by allowing users to capitalize on platform growth. The resulting …
Persistent link: https://www.econbiz.de/10012481805
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Saving for Multiple Financial Needs : Evidence from Lockboxes and Mobile Money in Malawi
Aggarwal, Shilpa - 2020
We test whether the provision of multiple labeled savings accounts affects savings and downstream outcomes in an experiment with 761 microentrepreneurs in urban Malawi. Treatment respondents received one or multiple savings accounts, in the form of lockboxes or mobile money. We find that while...
Persistent link: https://www.econbiz.de/10012481992
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Mobile Money : The Economics of M-PESA
Jack, William - 2011
Mobile money is a tool that allows individuals to make financial transactions using cell phone technology. In this paper, we report initial results of two rounds of a large survey of households in Kenya, the country that has seen perhaps the most rapid and widespread growth of a mobile money...
Persistent link: https://www.econbiz.de/10012461936
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E-ZTax : Tax Salience and Tax Rates
Finkelstein, Amy - 2007
This paper tests the hypothesis that the salience of a tax system affects equilibrium tax rates. To do this, I analyze how toll rates change after toll facilities adopt electronic toll collection. Unlike manual toll collection, in which the driver must hand over cash at the toll collection...
Persistent link: https://www.econbiz.de/10012465732