Results 101 to 110 of about 41,185 (205)

An Economic Analysis of Difficulty Adjustment Algorithms in Proof‐of‐Work Blockchain Systems

International Economic Review, EarlyView.
ABSTRACT We study the stability of cryptocurrency systems through difficulty adjustment. Bitcoin's difficulty adjustment algorithm (DAA) exhibits instability when the reward elasticity of the hash rate is high, implying that a sharp price reduction could disrupt the current Bitcoin system.
Shunya Noda, Kyohei Okumura, Yoshinori Hashimoto   +2 more
wiley   +1 more source

Cryptocurrency Bubbles and Costly Mining

International Economic Review, EarlyView.
ABSTRACT This paper develops a model of a cryptocurrency by incorporating mining into the otherwise standard search‐theoretic monetary framework. As usual, multiple equilibria exist. To obtain a sharp prediction on whether a cryptocurrency' s value will last in the future, I propose a notion of equilibrium refinement based on the feature that mining ...
Kohei Iwasaki
wiley   +1 more source

Miners' Reward Elasticity and Stability of Competing Proof‐of‐Work Cryptocurrencies

International Economic Review, EarlyView.
ABSTRACT Proof‐of‐Work cryptocurrencies employ miners to sustain the system through algorithmic reward adjustments. We develop a stochastic model of the multicurrency mining and identify conditions for stable transaction speeds. Bitcoin's algorithm requires hash supply elasticity <$<$1 for stability, while ASERT remains stable for any elasticity and ...
Kohei Kawaguchi, Junpei Komiyama, Shunya Noda   +2 more
wiley   +1 more source

How Important Is the Home Market for Cross‐Listed Biotech Companies?

International Finance, EarlyView.
ABSTRACT This study investigates five German biotechnology firms cross‐listed on XETRA and NASDAQ. By employing high‐frequency data, we estimate both bivariate and trivariate vector error correction models—the latter explicitly accounting for exchange rate dynamics—to assess which market, domestic or U.S., leads in price discovery.
Theodore Panagiotidis, Pavlos Tsiokas
wiley   +1 more source

Inference via the Skewness‐Kurtosis Set

International Statistical Review, EarlyView.
Summary Kurtosis minus squared skewness is bounded from below by 1, but for unimodal distributions, this parameter is bounded by 189/125. In some applications, it is natural to compare distributions by comparing their kurtosis‐minus‐squared‐skewness parameters. The asymptotic behavior of the empirical version of this parameter is studied here for i.i.d.
Chris A. J. Klaassen, Bert van Es
wiley   +1 more source

Specification Tests for Jump‐Diffusion Models Based on the Characteristic Function

International Statistical Review, EarlyView.
Summary Goodness‐of‐fit tests are suggested for several popular jump‐diffusion processes. The suggested test statistics utilise the marginal characteristic function of the model and its L2‐type discrepancy from an empirical counterpart. Model parameters are estimated either by minimising the aforementioned L2‐type discrepancy or by maximum likelihood ...
Gerrit Lodewicus Grobler, Denis Belomestny, Simos George Meintanis, Emanuele Taufer   +3 more
wiley   +1 more source

Value-Added Tax (VAT) Implications of Cryptocurrencies: A Comparative Analysis of Tax Classification and Compliance

International Journal of Applied Research in Business and Management
The rapid growth and adoption of decentralized digital currencies have disrupted the global financial systems, posing significant challenges for regulatory frameworks, particularly in taxation.
Sibonelo Sibahle Mpanza
doaj   +1 more source

Compassionate Digital Innovation: A Pluralistic Perspective and Research Agenda

Information Systems Journal, EarlyView.
ABSTRACT Digital innovation offers significant societal, economic and environmental benefits but is also a source of profound harms. Prior information systems (IS) research has often overlooked the ethical tensions involved, framing harms as ‘unintended consequences’ rather than symptoms of deeper systemic problems.
Raffaele F. Ciriello, Lars Mathiassen, Marten Risius, Marc Cheong, Helana Scheepers, Emmanuelle Vaast   +5 more
wiley   +1 more source

Are Sustainable Cryptocurrencies Immune to Policy Uncertainties? Unveiling the Asymmetric Implications of Climate and Global Economic Policy Uncertainty for Green Cryptocurrencies

Revista Finanzas y Política Económica
Advanced blockchain technologies and growing environmental and economic uncertainties have  otivated us to investigate the impact of climate policy uncertainty (CPU) and global economic policy uncertainty (GEPU) on five green cryptocurrencies—ADA, EOS ...
Aamir Aijaz Syed, Alka Singh
doaj   +1 more source

How and Why EU Institutions Promote the Digital Euro: The Politics of a Central Bank Digital Currency (CBDC)

JCMS: Journal of Common Market Studies, EarlyView.
Abstract The future of money is a crucial issue in the digital age, and the emergence of central bank digital currencies (CBDCs) is widely recognised as a transformative development. However, despite its significant implications for monetary sovereignty, regulatory governance and strategic autonomy, we know relatively little about the political ...
Sebastian Heidebrecht
wiley   +1 more source