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CRIX or evaluating blockchain based currencies

Härdle, Wolfgang; Trimborn, Simon - 2015

More and more companies start offering digital payment systems. Smartphones evolve to a digital wallet such that it seems like we are about to enter the era of digital finance. In fact we are already inside an digital economy. The market of e-x (x = "finance", "money", "book", you name it . . ....

Persistent link: https://www.econbiz.de/10011349496

CRIX or evaluating blockchain based currencies

Trimborn, Simon; Härdle, Wolfgang - 2016

emerging e-coins have not been mapped into an index yet because with cryptos like Bitcoin, a new kind of asset of great public …

Persistent link: https://www.econbiz.de/10011481648

Brave New World? Bitcoin is not the New Gold : Understanding Cryptocurrency Price Dynamics

Choi, Sangyup - 2020

, a major share of Bitcoin price dynamics is explained by these variables. We also find an interesting nonlinearity in the … drivers of Bitcoin price dynamics between bullish and bearish market: the role of Bitcoin-idiosyncratic shocks increases when …While the many commonalities shared by Bitcoin and gold raise a question of whether Bitcoin is a safe-haven like gold …

Persistent link: https://www.econbiz.de/10012839350

Bitcoin and Cagan's Model of Hyperinflation

Jermann, Urban J. - 2020

The drivers of Bitcoin's price fluctuations are studied within a framework based on Cagan's model of hyperinflation. In … the model, the price of Bitcoin is driven by stochastic adoption and payments technology, as well as endogenous … expectations of future values. The model is estimated with bitcoin prices, transaction volumes, and money supply data. A majority …

Persistent link: https://www.econbiz.de/10012852765

Losing contact : the impact of contactless payments on cash usage

Felt, Marie-Hélène - 2020 - Last updated: December 23, 2020

I investigate the impact of contactless credit cards (CTCs) on cash use in Canada, using panel data between 2010 and 2017. I show that ignoring unobserved heterogeneity would lead to overstating the impact of CTCs on cash usage in a linear model. Using finite mixture modelling, I provide...

Persistent link: https://www.econbiz.de/10012404480

Designing central bank digital currencies

Agur, Itai; Ari, Anil; Dell'Ariccia, Giovanni - 2019

We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC, and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of a payment instrument depend on the number of...

Persistent link: https://www.econbiz.de/10012137068

Consumer choices under new payment methods

Son, Jaemin; Bilgin, Mehmet Huseyin; Ryu, Doojin - In: Financial innovation : FIN 8 (2022), pp. 1-22

This study suggests a payment portfolio model that includes new payment methods that have emerged from the development of cryptocurrency markets and central bank digital currencies (CBDCs). Our model analyzes the optimal payment choice for consumers under various macroeconomic conditions. We...

Persistent link: https://www.econbiz.de/10013368611

Public money as a store of value, heterogeneous beliefs, and banks : implications of CBDC

Muñoz, Manuel A.; Soons, Oscar - 2023

The bulk of euro-denominated cash is held for store of value purposes, with such holdings sharply increasing in times of high economic uncertainty. We develop a Diamond and Dybvig model with public money as a store of value and heterogeneous beliefs about bank stability that accounts for this...

Persistent link: https://www.econbiz.de/10014278624

2023 Methods-of-Payment Survey report : the resilience of cash

Henry, Christopher; Shimoda, Matthew; Rusu, Doina - 2024

We present key results from the 2023 Methods-of-Payment (MOP) Survey, including updated payment shares based on a three-day shopping diary. Results show that measures of cash management and use have remained fairly stable since 2020, along with the estimated share of payments made online. In...

Persistent link: https://www.econbiz.de/10014577848

Bitcoin fluctuations and the frequency of price overreactions

Caporale, Guglielmo Maria; Plastun, Alex; Oliinyk, Viktor - 2018

Bitcoin price movements (H1) and (ii) exhibits seasonality (H2). On the whole, the results suggest that it can provide useful …This paper investigates the role of the frequency of price overreactions in the cryptocurrency market in the case of … BitCoin over the period 2013-2018. Specifically, it uses a static approach to detect overreactions and then carries out …

Persistent link: https://www.econbiz.de/10011922057