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Central Bank Digital Currency and Cash in the Euro Area: Current Developments and one Specific Proposal
Rösl, Gerhard; Seitz, Franz - In: Credit and Capital Markets – Kredit und Kapital 55 (2022) 4, pp. 523-551
consumer perspective, the digital euro will rather co-circulate with cash than replace it in transactions. …The present paper provides an overview on current developments of cash usage and issue of central bank digital currency … (CBDC) in the euro area and proposes a possible design of a digital euro that allows for instant offline payments. Cash …
Persistent link: https://www.econbiz.de/10014523455
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Modern and traditional methods for measuring money supply: The case of Saudi Arabia
Barnett, William A.; Alkhareif, Ryadh M. - In: International Journal of Financial Studies 3 (2015) 1, pp. 49-55
This paper compares the "simple-sum" monetary aggregates (M1 and M2) published by the Saudi Arabian Monetary Agency (SAMA) with the new monetary aggregates (D1 and D2)-known as the Divisia monetary indexes. The former aggregates are constructed from a simple accounting identity, whereas the...
Persistent link: https://www.econbiz.de/10011708972
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Constructing divisia monetary aggregates for Singapore
Barnett, William A.; Nguyen, Van H. - In: Journal of Risk and Financial Management 14 (2021) 8, pp. 1-15
conventional Divisia monetary aggregates, since the volume of credit card transactions in Singapore is relatively small compared …
Persistent link: https://www.econbiz.de/10013201054
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Ratchet effects in currency substitution: An application to Nigeria
Bawa, Sani; Omotosho, Babatunde S.; Doguwa, Sani I. - In: CBN Journal of Applied Statistics 06 (2015) 2, pp. 19-37
This study examines the persistence of currency substitution in Nigeria by applying the Bounds testing approach to cointegration and including a ratchet variable in the estimated Autoregressive Distributed Lag (ARDL) model. Empirical results show that factors such as exchange rate risks,...
Persistent link: https://www.econbiz.de/10011482616
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On the bottom-up foundations of the banking-macro nexus
Wäckerle, Manuel - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-40, pp. 1-45
The complexity of credit-money is conceived as the central issue in the banking-macro nexus, which the authors consider as a structural as well as process component of the evolving economy. This nexus is significant for the stability as well as the fragility of the economic system, because it...
Persistent link: https://www.econbiz.de/10010326678
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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
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Low interest rates and executive risk-taking incentives: Evidence from the United States
Castro, Paula; Tascon, Maria T.; Castaño, Francisco J.; … - In: BRQ Business Research Quarterly 24 (2021) 4, pp. 324-354
This article contributes to the literature by indicating how certain monetary policies impact the compensation incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and managers and between shareholders and creditors, a...
Persistent link: https://www.econbiz.de/10013327728
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The microfoundations of organizational ambidexterity: A systematic review of individual ambidexterity through a multilevel framework
Pertusa-Ortega, Eva M.; Molina Azorín, José Francisco; … - In: BRQ Business Research Quarterly 24 (2021) 4, pp. 355-371
The analysis of ambidexterity at the individual level may help to open the black box of organizational ambidexterity and to address the microfoundations of the exploration/exploitation dilemma in order to know how it can be achieved. The purpose of this article is to examine the main...
Persistent link: https://www.econbiz.de/10013327729
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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
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Confidence and financial crisis in a post-Keynesian stock flow consistent model
Le Heron, Edwin - In: Intervention. European Journal of Economics and … 08 (2011) 2, pp. 361-387
The paper aims at showing that one of the main channels by which the US 2007 financial crisis became a real and global economic crisis is the 'confidence channel', i.e. that the financial crisis affected firms, banks and households' expectations and confidence, thus leading to what they were...
Persistent link: https://www.econbiz.de/10014363131