Showing 1 - 3 of 3
This paper documents a strong connection between payment system and credit supply. The dual role of deposits as financing instruments for banks and means of payment for bank customers implies spillover effects of bank lending. After a bank finances loans with new deposits, the deposit holders'...
Persistent link: https://www.econbiz.de/10012816483
Persistent link: https://www.econbiz.de/10012434835
We develop a dynamic asset pricing model of cryptocurrencies/tokens that allows users to conduct peer-to-peer transactions on digital platforms. The equilibrium value of tokens is determined by aggregating heterogeneous users' transactional demand rather than discounting cash flows, as is done...
Persistent link: https://www.econbiz.de/10011976138