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by Bitcoin to market-oriented application scenarios. To shed light on the technology's usage in markets with asymmetric … information, this study analyzes the effect of the blockchain's public transparency paradigm on behavioral patterns and market … effects and reduces moral hazard of good market participants (plums). In addition, we identify an incentive for bad market …
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The growth and deepening of financial markets entailed the expectation that the bank lending channel of monetary policy transmission would lose its importance. The paper explains why, on the contrary, the banking sector has become a major locus of origination and amplification of macro-financial...
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Certificates are widely used as a signaling mechanism to mitigate adverse selection when information is asymmetric. To reduce information asymmetry between lenders and borrowers, Chinese peer-to-peer (P2P) lending platforms encourage borrowers to obtain various kinds of credit certificates. As...
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