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When does a swap between private and public money leave the equilibrium allocation and price system unchanged? To … answer this question, the paper sets up a generic model of money and liquidity which identifies sources of seignorage rents …
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We develop a generic model of money and liquidity that identifies sources of liquidity bubbles and seignorage rents. We …
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We develop a generic model of money and liquidity that identifies sources of liquidity bubbles and seignorage rents. We …
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that Bitcoin has a unique \"hardness\", due to which this cryptocurrency is rightly called «digital gold». The article …
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