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Mobile money use: The impact of macroeconomic policy and regulation

Katusiime, Lorna - In: Economies 9 (2021) 2, pp. 1-19

This paper examines the effects of macroeconomic policy and regulatory environment on mobile money usage. Specifically, we develop an autoregressive distributed lag model to investigate the effect of key macroeconomic variables and mobile money tax on mobile money usage in Uganda. Using monthly...

Persistent link: https://www.econbiz.de/10013199789

The Demand for Currency Substitution

Seater, John J. - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-35, pp. 1-30

A transactions model of the demand for multiple media of exchange is developed. Some results are expected, and others are both new and surprising. There are both extensive and intensive margins to currency substitution, and inflation may affect the two margins differently, leading to subtle...

Persistent link: https://www.econbiz.de/10010298619

Metcalfe's law and log-period power laws in the cryptocurrencies market

Pele, Daniel Traian; Mazurencu-Marinescu-Pele, Miruna - In: Economics: The Open-Access, Open-Assessment E-Journal 13 (2019) 2019-29, pp. 1-26

In this paper the authors investigate the statistical properties of some cryptocurrencies by using three layers of analysis: alpha-stable distributions, Metcalfe's law and the bubble behaviour through the LPPL modelling. The results show, in the medium to long-run, the validity of Metcalfe's law...

Persistent link: https://www.econbiz.de/10012007754

Money demand under free banking: Switzerland 1851-1906

Gerlach, Stefan; Kugler, Peter - In: Swiss Journal of Economics and Statistics 154 (2018) 1, pp. 2-8

This paper studies money demand in Switzerland under free banking before the establishment of the Swiss National Bank. We find that, in addition to income, the banks' balance-sheet-to-GDP ratio and the number of banks were important determinants of long-run money demand. The former variable also...

Persistent link: https://www.econbiz.de/10013205750

The impact of contactless payment on cash usage at an early stage of diffusion

Trütsch, Tobias - In: Swiss Journal of Economics and Statistics 156 (2020) 1, pp. 1-35

This paper explores the impact of contactless payment on consumers' demand for cash at an early stage of diffusion. The … unobserved heterogeneity in cash usage. The results show that contactless credit and debit cards exert no statistically … significant effect on cash usage after controlling for unobserved heterogeneity. Consumers' decision to use contactless payment is …

Persistent link: https://www.econbiz.de/10013205789

Does the hashrate affect the bitcoin price?

Fantazzini, Dean; Kolodin, Nikita - In: Journal of Risk and Financial Management 13 (2020) 11, pp. 1-29

This paper investigates the relationship between the bitcoin price and the hashrate by disentangling the effects of the energy efficiency of the bitcoin mining equipment, bitcoin halving, and of structural breaks on the price dynamics. For this purpose, we propose a methodology based on...

Persistent link: https://www.econbiz.de/10012611505

Bubble, weak and strong hyperinflation: Theory and empirical evidence

de Holanda Barbosa, Fernando; da Silva Filho, Tito … - In: EconomiA 16 (2015) 2, pp. 145-156

This paper presents a theoretical framework that allows a taxonomy of hyperinflation, namely: (i) bubble, (ii) weak and (iii) strong hyperinflation. The inflation tax revenue curve is used to characterize each type of hyperinflation and we use this curve to test them. The bubble and strong...

Persistent link: https://www.econbiz.de/10011858433

Is Now the Time for Modern Monetary Theory or Permanent Monetary Finance?

Schlotmann, Olaf - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 1, pp. 17-36

In response to the COVID-19 pandemic, G7 central banks have launched asset purchase programs in anticipation of an increase in government bond offerings to finance ballooning fiscal deficits. As the volume of government bonds owned by private investors is not expected to rise during the current...

Persistent link: https://www.econbiz.de/10014522624

Monetary Instability, Lack of Integration, and the Curse of a Commodity Money Standard. The German Lands, c.1400–1900 A. D.

Rössner, Philipp Robinson - In: Credit and Capital Markets – Kredit und Kapital 47 (2014) 2, pp. 297-340

Currency debasement, defined as a loss of precious metal content (intrinsic value) of the circulating penny currencies over time, was a common feature in the monetary history of Europe, c. 1400–1900. Over the centuries the loss rate was sustained; between 1400 and 1900 A. D. the (south) German...

Persistent link: https://www.econbiz.de/10014521702

Should cryptocurrencies be included in the portfolio of international reserves held by central banks?

Moore, Winston; Stephen, Jeremy - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-12

In most countries, the central bank is required to hold reserve assets as a means of providing credibility for the value of the fiat currency. These assets can be in the form of gold, foreign exchange or some other internationally recognised reserve asset and are held to permit the country to...

Persistent link: https://www.econbiz.de/10011559200

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