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The roles of the state in the governance of socio-technical systems' transformation
Borrás, Susana; Edler, Jakob - 2020
The transformative turn of innovation policy has resulted in calls for a more entrepreneurial and directional role of the state. However, the multiple roles that the state might play in such processes remain underexplored. This paper studies the embedded role of the state in four distinct modes...
Persistent link: https://www.econbiz.de/10012201835
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Equilibrium bitcoin pricing
Biais, Bruno; Bisière, Christophe; Bouvard, Matthieu; … - 2020
We offer an equilibrium model of cryptocurrency pricing and confront it to new data on bitcoin transactional benefits … and costs. The model emphasises that the fundamental value of the cryptocurrency is the stream of net transactional … be used to purchase goods and services, and we also measure costs incurred by bitcoin owners. Consistent with the model …
Persistent link: https://www.econbiz.de/10012263491
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On the equivalence of private and public money
Brunnermeier, Markus K.; Niepelt, Dirk - 2019
We develop a generic model of money and liquidity that identifies sources of liquidity bubbles and seignorage rents. We provide sufficient conditions under which a swap of monies leaves the equilibrium allocation and price system unchanged. We apply the equivalence result to the "Chicago Plan",...
Persistent link: https://www.econbiz.de/10012271930
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Why might Libra be "Dead in the Womb"?
Qiao, Yide - 2020
The day after the news of Libra came out, it is said that Ma Huateng said on WeChat: "Libra has no technical problems, the main problem is about regulatory issues." I think this sentence is very simple, but it reflects many of his experiences, and I think it is correct. Many people's analysis of...
Persistent link: https://www.econbiz.de/10012385451
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The impact of technological innovations on money and financial markets
Kregel, Jan A.; Savona, Paolo - 2020
Savona argue that a public monopoly on the issuance of cryptocurrency could promote financial stability and help repair the …
Persistent link: https://www.econbiz.de/10013164760
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The next generation of digital currencies: In search of stability
Claeys, Gregory; Demertzis, Maria - 2019
Four major developments have challenged the status quo and reopened the debate on the forms that money will take in the future: 1) use of cash as a medium of exchange has declined; 2) distributed ledger technology (DLT) has led to the emergence of thousands of digital cryptocurrencies; 3) some...
Persistent link: https://www.econbiz.de/10012605189
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Plädoyer für den E-Euro - Implikationen für die Gesellschaft
Berentsen, Aleksander - 2020
Unser Geldsystem ist im Umbruch. Gerade erst hat ein von Facebook gegründetes privates Konsortium den Entwurf einer privaten Weltwährung vorgestellt. Auch China testet zur Zeit eine digitale staatliche Währung, vermutlich mit dem Ziel die Vormachtstellung des amerikanischen Dollars zu...
Persistent link: https://www.econbiz.de/10012614660
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Digitaler Euro: Resiliente Alternative zum Bargeld?
Schmal, Wolfgang Benedikt; Köhler, Ekkehard A. - In: Wirtschaftsdienst 103 (2023) 9, pp. 585
Persistent link: https://www.econbiz.de/10014433145
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Der digitale Euro aus einer historischen Perspektive
Greitens, Jan - In: Wirtschaftsdienst 103 (2023) 12, pp. 807-810
The introduction of a digital currency is part of the continuous evolution of the financial system, which has always been driven bytechnological innovations. For the first time in many years, Western central banks are exposed to potential currency competition. But a dig-ital euro also has the...
Persistent link: https://www.econbiz.de/10014484288