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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
own-price elasticity of quantity demand for soda of between −1.0 and −1.3. These estimates ignore consumer responses on … prices to estimate unrestricted demand models that correct for both errors. The corrected own-price elasticity of quantity … demand is just −0.2 to −0.3, so tax-induced soda price increases might cut average weights by less than one pound, which is …
Persistent link: https://www.econbiz.de/10012956015
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
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 … Bitcoin prices translate into their purchases of durable goods. Finally, exogenously-provided information about historical …
Persistent link: https://www.econbiz.de/10014349510
of the banana plants because of sufficiently low elasticity of demand. Using the cyclones of 2006 and 2011 as exogenous … events, we identify the elasticity of demand for bananas in Australia to be around -0.5. We indeed find limited evidence for … have hit and re-planted banana plants have become productive. Combining the elasticity estimates with information on …
Persistent link: https://www.econbiz.de/10013057905
evidence that the income elasticity of French residential electricity demand is 0.22, averaged over our four cohorts of …This paper develops a pseudo-panel approach to examine household electricity demand behavior through the household life …
Persistent link: https://www.econbiz.de/10013251547
Many countries face a continuing shortage in nurses' labour supply. Previous research suggests that nurses respond only weakly to changes in wages. We estimate a multi-sector model of nursing qualification holders' labour supply in different occupations. A structural approach allows us to model...
Persistent link: https://www.econbiz.de/10013105988
difference in the wage elasticity of labour demand persists even when we control for the skill intensity of firms or their level … multinational firms protects against strong fluctuations in labour demand. Overall, our results suggest that the wage elasticity of … labour demand in domestic multinationals is less sensitive to labour cost changes than in foreign multinationals. This …
Persistent link: https://www.econbiz.de/10013096440
financial incentives in attracting a larger and more qualified pool of applicants, (ii) the elasticity of the labor supply … motivation; higher wage offers also increased acceptance rates, implying a labor supply elasticity of around 2 and some degree of …
Persistent link: https://www.econbiz.de/10013104672
natives. Under monopsonistic wage setting the estimated elasticity differential predicts a 4.6 log points wage penalty for …
Persistent link: https://www.econbiz.de/10013107697