Results 81 to 90 of about 4,780 (188)
Taxing windfall money: A quasi‐experimental study
Contemporary Economic Policy, EarlyView.Abstract This paper examines individuals' reaction to windfall income taxation. We take advantage of similar tax reforms on lottery winnings in Portugal and Spain in 2013 to study effects on lottery participation in both countries. Using a Synthetic Difference in Differences approach on a database of 348 draws from EuroMillions, our results indicate ...
Álvaro Muñiz‐Fernández, Levi Pérez
wiley +1 more source
Can Central Bank Digital Currencies Promote the Internationalization of Currencies?
European Financial Management, EarlyView.ABSTRACT Using multinational data (2000–2023), this study employed system GMM and fixed‐effects models to examine CBDC's impact on currency internationalization through a framework measuring ‘market acceptance’ and ‘policy drive.’ The results indicated that CBDC advancement significantly promotes currency internationalization.
Haodong Gu
wiley +1 more source
Price Discovery in Bitcoin ETF Market
Financial Review, EarlyView.ABSTRACT In this study, we explore price discovery across the following three Bitcoin markets: spot, futures, and exchange‐traded funds (ETFs). Employing the fractionally cointegrated vector autoregressive (FCVAR) model, we estimate price discovery in each market using minute‐level price data from October 19, 2021, the launch date of the first US ...
Kiana Kia +4 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
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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 +2 more
wiley +1 more source
Afraid of the unknown: Crypto literacy and fear of online fraud
Journal of Economic CriminologyThe proliferation of cryptocurrency throughout society has led to widespread usage within criminal offending. Despite this, limited research has investigated fear of cryptocurrency-based victimization, or the role that financial or cryptocurrency ...
Timothy A. Engle +2 more
doaj +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
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System analysis of the world cryptocurrency market
Вісник Харківського національного університету імені В.Н. Каразіна: Серія Економіка, 2018 The main focus of this article is the analysis of the global cryptocurrency market as an integrated system of cryptocurrencies and infrastructures that ensure their functioning.
T. V. Merkulova, J. M. Masliy
doaj
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 +3 more
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