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Over millennia, mankind has used hard cash in various forms ranging from shells to gold coins and paper. More recently, cash has become unpopular in political circles, as it effectively restricts states’ power to tax (explicitly or via negative interest rates) or to survey and potentially...
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We analyse the drivers of Bitcoin transactions against 44 fiat currencies in the largest peer-to-peer crypto exchanges. Momentum and volatility in the cryptoasset market, as well as volatility and liquidity in global financial markets do matter for Bitcoin trading. There is suggestive evidence...
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model of spatial bank competition to understand better the economic foundations of the Single Euro Payments Area (SEPA). An … economic research perspective on the mostly informal policy debates about SEPA is developed. The analysis suggests that … expectations about the positive effects of SEPA may be exaggerated as most channels for enhancing public welfare seem rather weak …
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