Elastic Cash
Elastic Cash is a new decentralized mechanism for regulating the money supply. The mechanism operates by modifying the supply so that an interest rate determined by a public market is kept approximately fixed. It can be incorporated into the conventional monetary system to improve the elasticity of the US Dollar, and it can be used to design new elastic cryptocurrencies that remain decentralized.
Code (0)
등록된 구현이 없습니다.
Similar Papers 제목 키워드 기반
Liquidity Constraints, Cash Windfalls, and Entrepreneurship: Evidence from Administrative Data on Lottery Winners
Using administrative data on Taiwanese lottery winners, this paper examines the effects of cash windfalls on entrepreneurship. We compare the start-up decisions of households winning more than 1.5 million NTD (50,000 USD…
The Influence of Payment Method: Do Consumers Pay More with Mobile Payment?
The introduction of new payment methods has resulted in one of the most significant changes in the way we consume goods and services. In this paper, I present results of a field and a laboratory experiment designed to de…
Convergence rates of large-time sensitivities with the Hansen--Scheinkman decomposition
This paper investigates the large-time asymptotic behavior of the sensitivities of cash flows. In quantitative finance, the price of a cash flow is expressed in terms of a pricing operator of a Markov diffusion process. …
Profit Shifting and International Tax Reforms
International taxation rules are outdated, allowing multinationals to shift profits to tax havens. This paper examines how tax reforms affect profit shifting and cross-country welfare. We propose a model that separates r…
Cash-subadditive risk measures without quasi-convexity
In the literature on risk measures, cash subadditivity was proposed to replace cash additivity, motivated by the presence of stochastic or ambiguous interest rates and defaultable contingent claims. Cash subadditivity ha…