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Kreuser, Jérôme; Sornette, Didier - 2018 - Revised 18-Jun-18

investment strategies applied to Bitcoin. Our bubble model is defined as a geometric Brownian motion combined with separate crash …, which itself grows with the bubble mispricing: hence, the larger the bubble price, the larger its subsequent growth rate. We …-free asset. Using our bubble model on Bitcoin from 8-Jul-2013 until 19-Dec-2017 would have generated a CAGR of 140% with a …

Persistent link: https://www.econbiz.de/10011899594

Transactional demand for central bank digital currency

Nocciola, Luca; Zamora-Pérez, Alejandro - 2024

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...

Persistent link: https://www.econbiz.de/10014526662

The economics of central bank digital currency

Ahnert, Toni; Assenmacher-Wesche, Katrin; Hoffmann, Peter; … - 2022

This paper provides a structured overview of the burgeoning literature on the economics of CBDC. We document the economic forces that shape the rise of digital money and review motives for the issuance of CBDC. We then study the implications for the financial system and discuss of a number of...

Persistent link: https://www.econbiz.de/10013342232

Cryptocurrency market reactions to regulatory news

Auer, Raphael A.; Claessens, Stijn - 2020

Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations, transaction volumes and user bases react substantially to news about regulatory actions. The impact depends on the specific regulatory category to which the news relates: events...

Persistent link: https://www.econbiz.de/10012205633

Another look at cryptocurrency bubbles

Gronwald, Marc - 2019

price of Etherum even if this price is expressed in terms of Bitcoin rather than US Dollars. These periods, however, are … found to be in the first half of 2016 and 2017, respectively, but not during the price peak period of Bitcoin witnessed end … empirical analysis into the relationship of the prices of Etherum and Bitcoin. Evidence of explosive periods is found in the …

Persistent link: https://www.econbiz.de/10012033146

Central Bank digital currencies : a framework for assessing why and how

Fung, Ben Siu-cheong; Hałaburda, Hanna - 2016

Digital currencies have attracted strong interest in recent years and have the potential to become widely adopted for use in making payments. Public authorities and central banks around the world are closely monitoring developments in digital currencies and studying their implications for the...

Persistent link: https://www.econbiz.de/10011565226

Best before? : expiring central bank digital currency and loss recovery

Kahn, Charles M.; Oordt, Maarten R. C. van; Zhu, Yu - 2021 - Last updated: December 24, 2021

An important feature of physical cash payments is resilience, which is due to their indifference to power outages or network coverage. Many central banks are exploring issuing digital cash substitutes with similar online payment functionality. Such substitutes could incorporate novel features,...

Persistent link: https://www.econbiz.de/10012793565

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

Central bank digital currency : motivations and implications

Engert, Walter; Fung, Ben Siu-cheong - 2017

The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology …

Persistent link: https://www.econbiz.de/10011759869

Revisiting the properties of money

Hull, Isaiah; Sattath, Or - 2021

The properties of money commonly referenced in the economics literature were originally identified by Jevons (1876) and Menger (1892) in the late 1800s and were intended to describe physical currencies, such as commodity money, metallic coins, and paper bills. In the digital era, many...

Persistent link: https://www.econbiz.de/10012660126

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