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We shed light on the demand for a central bank digital currency (CBDC) as a means of payment, based on survey payment … data. We provide a quantitative framework to assess transactional demand for CBDC at the point of sale, accommodating a … wide range of design choices. We develop a structural model of payment means adoption and usage and estimate CBDC demand …
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The Technology Acceptance Model (TAM) is an important analytical tool in the study of the social mechanisms of technology adoption, and has received considerable attention in the literature. Though empirical support for the model has varied depending on situation specifics, it remains a popular...
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Bitcoin is traded in a number of exchanges, and there is a large and time-varying price dispersion among them. We identify the sources of price dispersion using a standard time-varying vector auto-regression model with stochastic volatility. Using weekly data over the past 3 years, we find that...
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We unite investment by speculators and tech-savvy investors with a heterogeneous agent model.While speculators seek to profit from extrapolating the price trends, tech-savvy investors trade based on the prospective value of Bitcoin, which is a function of factors that capture the market demand...
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