Results 171 to 180 of about 1,033 (198)
Some of the next articles are maybe not open access.
SSRN Electronic Journal
Money is omnipresent. Yet defining its fundamental character proves surprisingly difficult. Functional descriptions tell us what money does, not what money is, and they certainly do not explain how something becomes money in the first place. These questions rarely surface in everyday commerce, but they become unavoidable when a new instrument emerges ...
Christopher K. Odinet +2 more
openaire +1 more source
Money is omnipresent. Yet defining its fundamental character proves surprisingly difficult. Functional descriptions tell us what money does, not what money is, and they certainly do not explain how something becomes money in the first place. These questions rarely surface in everyday commerce, but they become unavoidable when a new instrument emerges ...
Christopher K. Odinet +2 more
openaire +1 more source
Staff Reports (Federal Reserve Bank of New York)
We propose a theory of stablecoin disintermediation, whereby stablecoins not only erode banks’ deposit franchises but also transmit liquidity stress to the banking system. Using transaction-level data linking on-chain transactions to wholesale interbank payments, we document the first evidence of liquidity-driven bank disintermediation.
Michael Junho Lee, Donny Tou
openaire +1 more source
We propose a theory of stablecoin disintermediation, whereby stablecoins not only erode banks’ deposit franchises but also transmit liquidity stress to the banking system. Using transaction-level data linking on-chain transactions to wholesale interbank payments, we document the first evidence of liquidity-driven bank disintermediation.
Michael Junho Lee, Donny Tou
openaire +1 more source
Tethered, or Untethered? On the interplay between stablecoins and major cryptoassets
Finance Research Letters, 2021Ladislav Kristoufek
exaly
Stablecoins: Does design affect stability?
Finance Research Letters, 2023Gregory Gadzinski, Alessio Castello
exaly
Stablecoins versus traditional cryptocurrencies in response to interbank rates
Finance Research Letters, 2022Thach V H Nguyen +2 more
exaly
A Note On Stablecoin – Anti-Stablecoin Asymmetry
SSRN Electronic Journal, 2022openaire +1 more source
Some Simple Economics of Stablecoins
Annual Review of Financial Economics, 2022Christian Catalini
exaly