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Design Choices for Central Bank Digital Currency : Policy and Technical Considerations
Allen, Sarah - 2020
Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...
Persistent link: https://www.econbiz.de/10012827328
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A Simple Model of a Central Bank Digital Currency
Mishra, Bineet; Prasad, Eswar S. - 2023
We develop a general equilibrium model that highlights the trade-offs between physical and digital forms of retail central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency, possibilities for tax evasion, and, potentially,...
Persistent link: https://www.econbiz.de/10014354569
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Do You Even Crypto, Bro? Cryptocurrencies in Household Finance
Weber, Michael; Sheflin, Stephen; Coibion, Olivier; … - 2023
Using repeated large-scale surveys of U.S. households, we study the cryptocurrency investment decisions and motives of … households relative to other financial assets. Cryptocurrency holders tend to be young, white, male and more libertarian relative … purchase cryptocurrency subsequently. We compare these views and behaviors to those of households toward other financial assets …
Persistent link: https://www.econbiz.de/10014349510
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Lower and Upper Bounds of Unfair Inequality : Theory and Evidence for Germany and the US
Niehues, Judith - 2011
Previous estimates of unfair inequality of opportunity (IOp) are only lower bounds because of the unobservability of the full set of endowed circumstances beyond the sphere of individual responsibility. In this paper, we suggest a new estimator based on a fixed effects panel model which...
Persistent link: https://www.econbiz.de/10013122677
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The US Labor Market in 2030 : A Scenario Based on Current Trends in Supply and Demand
Edwards, Rebecca - 2013
Three fundamental forces have shaped labor markets over the last 50 years: the secular increase in the returns to education, educational upgrading, and the integration of large numbers of women into the workforce. We modify the Katz and Murphy (1992) framework to predict the structure of the...
Persistent link: https://www.econbiz.de/10013071294
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Why is Pollution from U.S. Manufacturing Declining? The Roles of Trade, Regulation, Productivity, and Preferences
Shapiro, Joseph S. - 2015
Between 1990 and 2008, emissions of the most common air pollutants from U.S. manufacturing fell by 60 percent, even as real U.S. manufacturing output grew substantially. This paper develops a quantitative model to explain how changes in trade, environmental regulation, productivity, and consumer...
Persistent link: https://www.econbiz.de/10013029138
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How Does the Economic Uncertainty Affect Asset Prices Under Normal and Financial Distress Times?
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2022
By using a nonlinear VAR model, we investigate whether the response of the US stock and housing markets to uncertainty shocks depends on financial conditions. Our model allows us to change the response of the US financial markets to volatility shocks in periods of normal and financial distress....
Persistent link: https://www.econbiz.de/10013406435
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The Impact of Education on Unemployment Incidence and Re-Employment Success : Evidence from the U.S. Labour Market
Riddell, W. Craig - 2011
This study investigates the causal effects of education on individuals' transitions between employment and unemployment, with particular focus on the extent to which education improves re-employment outcomes among unemployed workers. Given that positive correlations between education and labour...
Persistent link: https://www.econbiz.de/10013128216
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What Drives U.S. Immigration Policy? Evidence from Congressional Roll Call Votes
Facchini, Giovanni - 2011
Immigration is one of the most hotly debated policy issues in the United States today. Despite marked divergence of opinions within political parties, several important immigration reforms were introduced in the post 1965 era. The purpose of this paper is to systematically analyze the drivers of...
Persistent link: https://www.econbiz.de/10013128227
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Income Taxation of U.S. Households : Basic Facts
Guner, Nezih - 2011
We use micro data from the U.S. Internal Revenue Service to document how households' tax liabilities vary with income, marital status and the number of dependents. We report facts on the distributions of average and marginal taxes, properties of the joint distributions of taxes paid and income,...
Persistent link: https://www.econbiz.de/10013128832