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E-money : efficiency, stability and optimal policy
Chiu, Jonathan; Wong, Tsz-Nga - 2014
What makes e-money more special than cash? Is the introduction of e-money necessarily welfare enhancing? Is an e … welfare in a cash economy. A model that features both trading frictions and two-sided platforms is then built and used to … emoney depends critically on whether cash is a viable alternative to e-money as a means of payment. When it is not (e.g., for …
Persistent link: https://www.econbiz.de/10010346217
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On the essentiality of e-money
Chiu, Jonathan; Wong, Tsz-Nga - 2015
implement and improve the constrained optimal resource allocation. We find that, compared to cash, emoney technologies allowing …
Persistent link: https://www.econbiz.de/10011408632
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Bitcoin awareness and usage in Canada
Henry, Christopher S.; Huynh, Kim P.; Nicholls, Gradon - 2017
There has been tremendous discussion of Bitcoin, digital currencies and FinTech. However, there is limited empirical evidence of Bitcoin’s adoption and usage. We propose a methodology to collect a nationally representative sample using the Bitcoin Omnibus Survey (BTCOS) to track the ubiquity...
Persistent link: https://www.econbiz.de/10011777845
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A look inside the box : combining aggregate and marginal distributions to identify joint distributions
Felt, Marie-Hélène - 2018
individuals living in couple relationships, personal cash-management practices are significantly influenced by the partner's use … of cash and stored-value cards. This finding implies that, for some methods of payment at least, ignoring the partner …
Persistent link: https://www.econbiz.de/10011872492
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Swedish Riksbank notes and Enskilda bank notes : lessons for digital currencies
Fung, Ben Siu-cheong; Hendry, Scott; Weber, Warren E. - 2018
This paper examines the experience of Sweden with government notes and private bank notes to determine how well the Swedish experience corresponds to that of Canada and the United States. Sweden is important to study because it has had government notes in circulation for more than 350 years, and...
Persistent link: https://www.econbiz.de/10011864604
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Some economics of private digital currency
Gans, Joshua; Hałaburda, Hanna - 2013
This paper reviews some recent developments in digital currency, focusing on platform-sponsored currencies such as Facebook Credits. In a model of platform management, we find that it will not likely be profitable for such currencies to expand to become fully convertible competitors to...
Persistent link: https://www.econbiz.de/10010200393
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Cash in the pocket, cash in the cloud : cash holdings of Bitcoin owners
Balutel, Daniela; Henry, Christopher; Huynh, Kim P.; … - 2022 - Last updated: June 15, 2022
We estimate the effect of Bitcoin ownership on the level of cash holdings of Canadian consumers. Bitcoin ownership … positively correlates with cash holdings even after accounting for selection into ownership via a control function approach. On … average, Bitcoin owners hold 83 percent (in 2018) to 95 percent (in 2017) more cash than non-owners. Focusing on the quantiles …
Persistent link: https://www.econbiz.de/10013256534
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The cyclicality of sales, regular and effective prices : business cycle and policy implications
Coibion, Olivier; Gorodnichenko, Yuriy; Hong, Gee Hee - 2013
We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) using data on prices and quantities sold for numerous retailers across many U.S. metropolitan areas. Inflation in the effective prices paid by consumers declines...
Persistent link: https://www.econbiz.de/10009690837
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Relationships in the interbank market
Chiu, Jonathan; Monnet, Cyril - 2016
The market for central bank reserves is mainly over-the-counter and exhibits a core-periphery network structure. This paper develops a model of relationship lending in the unsecured interbank market. In equilibrium, a tiered lending network arises endogenously as banks choose to build...
Persistent link: https://www.econbiz.de/10011517056
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A Bitcoin standard : lessons from the gold standard
Weber, Warren E. - 2016
This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange...
Persistent link: https://www.econbiz.de/10011446194