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1دورية أكاديمية
المؤلفون: V. D. Kuligin, I. D. Matskulyak, D. I. Matskulyak
المصدر: Вестник университета, Vol 0, Iss 4, Pp 146-152 (2022)
مصطلحات موضوعية: bitcoin, money, cryptocurrency, exchange, fiat money, digital currency, Sociology (General), HM401-1281, Economics as a science, HB71-74
الوصف: The purpose of the article is to reveal the evolution of things exchange from its emergence described as a simple model to formation of the commodity-money circulation with its subsequent transformation into an innovative state tending to the digital currency. The objective of the study is to identify the specifics of the double exchange of things model. In it, the needs of one individual are satisfied by the means of ensuring them that are in the possession of another. With the money’s advent, the alienation of one’s product and the appropriation of someone else’s in exchange for it is divided in space and time. This introduces fundamental changes in the simple exchange model. The circulation process does not end like a direct exchange of products. Money does not leave the sphere of circulation. They are deposited at those points in the circulation process that are purified by this or that commodity. The research methodology proceeds from the statements that, firstly, the identical is different, and the difference is manifested in the identity; secondly, in the thing being exchanged there is a hidden contradiction between its subjective assessment for oneself and for the other, and both sides value other people’s things higher than their own. The results obtained reveal the evolution of money towards digital currency as an objective social phenomenon. Their manifestation in different historical periods is compared – random exchange, commodity-money circulation, depreciation of money, the ratio of their supply and demand, the appearance of fiat money, and digital currency – their advantages and disadvantages are revealed.
وصف الملف: electronic resource
العلاقة: https://vestnik.guu.ru/jour/article/view/3522Test; https://doaj.org/toc/1816-4277Test; https://doaj.org/toc/2686-8415Test
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2دورية أكاديمية
المؤلفون: TAN, Kheng Tat Marcus
المصدر: Dissertations and Theses Collection (Open Access)
مصطلحات موضوعية: Search Models, Coexistence of Money and Credit, Limited Commitment, Money, Fiat Money, E-Money, Digital Currency, Money Distribution, Credit, Debt, Deposits, Collateral, Housing, Liquidity, Asset Prices, Monetary Policy, Welfare, Heterogeneous Agents, Behavioral Economics, Economics
الوصف: This dissertation consists of three chapters on Search Models of Money. The first chapter is a review of recent advances in Search Models of Money. It reviews the Lagos and Wright (2005) framework which is the workhorse of many modern search models with applications to models with Competing Media of Exchange to Fiat Currency, and models with Money and Credit. We trace the history of the development of search models of money from the first generation to present day. We highlight recent developments that address puzzles such as the coexistence of money in an environment where an asset serves as both an alternative means-of-payment and a superior store of value. We look at search models of money with credit which address the fact that in the original LW framework, credit could not exist because agents are anonymous in the decentralized market while in the centralized market all agents can work with linear utility in hours rendering credit unnecessary. The second chapter explores the adoption and acceptance of alternative means-of-payment to fiat currency. We determine the inflation rate and transaction costs of adoption that encourage the adoption of an alternative means-of-payment. However, the buyer’s bargaining power must also be high enough for money and the asset to co-exist as means of payment, otherwise buyers will choose to use money only for low inflation and asset only for high inflation. We observe that when inflation is low, for a given fraction of acceptance of the alternative means-ofpayment by sellers, and the cost of holding money is not great so the benefit of using the asset as an alternative means-of-payment to the buyer is negative or zero, and buyers will not adopt the asset. At high inflation when the asset is adopted and accepted as an alternative means-of-payment, when acceptance rate is low, welfare gains are limited because agents do not use too much of the asset as an alternative means-of-payment. However, when the acceptance rate is high, the welfare gains are much higher. In equilibria ...
وصف الملف: application/pdf
العلاقة: https://ink.library.smu.edu.sg/etd_coll/510Test; https://ink.library.smu.edu.sg/context/etd_coll/article/1508/viewcontent/Search_Models_of_Money___Alternative_Means_of_Payment_and_Consumer_Behaviour_with_Credit.pdfTest
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3دورية أكاديمية
المصدر: Mises, Vol 10 (2022)
مصطلحات موضوعية: Time Preference, Money, Savings, Bitcoin, Fiat Money, Economic Calculation, Law in general. Comparative and uniform law. Jurisprudence, K1-7720, Economic history and conditions, HC10-1085
الوصف: Money is what allows individuals to face uncertainty, by controlling and debasing money, governments of the world shift the time preference of individuals to somewhere closer to the present time. This currency inflation disincentivizes saving with societal consequences that go much beyond economics. By giving back to individuals the possibility of saving, Bitcoin emulates what gold did for a number of centuries and provides a much-needed solution to the interference of governments in the money market. The Bitcoin standard will provide for much higher levels of social development, because it will incentivize and facilitate savings as well as the exercise of proper economic calculation.
وصف الملف: electronic resource
العلاقة: https://www.revistamises.org.br/misesjournal/article/view/1495Test; https://doaj.org/toc/2318-0811Test; https://doaj.org/toc/2594-9187Test
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4دورية أكاديمية
المصدر: MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 10 (2022): Yearly Continuous Publication ; MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 10 (2022): Publicación Anual Continua ; MISES: Interdisciplinary Journal of Philosophy, Law and Economics; v. 10 (2022): Publicação Contínua ; 2594-9187 ; 2318-0811
مصطلحات موضوعية: Preferência Temporal, Dinheiro, Poupança, Bitcoin, Dinheiro Fiduciário, Cálculo Econômico, Time Preference, Money, Savings, Fiat Money, Economic Calculation, preferencia temporal, ahorro, dinero fiduciario, cálculo económico
الوصف: Money is what allows individuals to face uncertainty, by controlling and debasing money, governments of the world shift the time preference of individuals to somewhere closer to the present time. This currency inflation disincentivizes saving with societal consequences that go much beyond economics. By giving back to individuals the possibility of saving, Bitcoin emulates what gold did for a number of centuries and provides a much-needed solution to the interference of governments in the money market. The Bitcoin standard will provide for much higher levels of social development, because it will incentivize and facilitate savings as well as the exercise of proper economic calculation. ; el dinero es lo que permite que los individuos enfrenten la incertidumbre, y al controlar y degradar el dinero, los gobiernos del mundo desplazan la preferencia temporal de los individuos hacia un lugar más cercano al presente. Esta inflación monetaria desincentiva el ahorro con consecuencias sociales que van mucho más allá de lo económico. Al devolverles a las personas la posibilidad de ahorrar, Bitcoin emula lo que hizo eloro, el patrón oro, durante varios siglos y brinda una solución muy necesaria a la interferencia de los gobiernos en el mercado monetario. El patrón Bitcoin permitirá niveles mucho más altos de desarrollo social, porque incentivará y facilitará el ahorro, así como el ejercicio del cálculo económico. ; O dinheiro é o que permite aos indivíduos enfrentarem a incerteza, ao controlar e desvalorizar o dinheiro, os governos do mundo todo aumentam a preferência temporal dos indivíduos, trazendo-a mais próximo do presente. Tal inflação monetária desincentiva a poupança com consequências sociais que vão muito além da economia. Ao devolver aos indivíduos a possibilidade de poupar, o Bitcoin emula o que o ouro, o padrão ouro, fez por muitos séculos e oferece uma solução necessária contra a interferência dos governos no mercadomonetário. O padrão Bitcoin permitirá níveis muito mais elevados de desenvolvimento social, pois ...
وصف الملف: application/pdf
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5دورية أكاديمية
المؤلفون: Goldberg, Dror
المصدر: Journal of Money, Credit and Banking, 2005 Oct 01. 37(5), 957-967.
الوصول الحر: https://www.jstor.org/stable/3839155Test
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6دورية أكاديمية
المؤلفون: Shi, Shouyong
المصدر: Econometrica, 1997 Jan 01. 65(1), 75-102.
الوصول الحر: https://www.jstor.org/stable/2171814Test
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7دورية أكاديمية
المؤلفون: Lotz, Sébastien, Shevchenko, Andrei
المصدر: Journal of Money, Credit and Banking, 2007 Mar 01. 39(2/3), 703-712.
الوصول الحر: https://www.jstor.org/stable/4494268Test
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8دورية أكاديمية
المؤلفون: Shi, Shouyong
المصدر: The Canadian Journal of Economics / Revue canadienne d'Economique, 2006 Aug 01. 39(3), 643-688.
الوصول الحر: https://www.jstor.org/stable/4121812Test
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9رسالة جامعية
المؤلفون: Weir, Diarmid J. G.
المساهمون: Dow, Sheila C., Montagnoli, Alberto
مصطلحات موضوعية: 332.4, money, production, theory of the monetary circuit, pluralism, post-Keynesian, stock-flow, heterodox, circulation approach, monetary theory, the monetary theory of production, post-Walrasian, macroeconomics, uncertainty, risk, equilibrium, real bills, liquidity preference, banking, balance sheet, fiat money, interest, money of account, inflation, expectations, distribution, monetary policy, Money, Monetary policy, Financial institutions
الوصف: The purpose of this thesis is to argue that the core of a monetary economy is a network of triangular contracts between banks, firms, workers and capital goods suppliers. Not only does this network give rise to the creation and valuation of money but it is the organising feature of modern economies, giving rise to both episodes of stability and crises. In constructing this argument I consider both orthodox and heterodox points of view. We analyse equilibrium models of money, and find that while money can exist in sequence economies with frictions, models of this type give no justification for its creation, valuation or holding for any significant duration, either theoretically or experimentally. Models that introduce dated goods and trading frictions to motivate the issue of risk-spreading ‘bundled’ debt are more promising for money creation, although they still cannot explain the the holding and valuation of money. Using the concept of team-production of Alchian and Demsetz and that of ‘hostage-taking’ in contracts owing to Williamson, we demonstrate how the issue of a token of generalised purchasing power from a team-production contract can enhance output and consumption. This conclusion motivates an original monetary theory of production that integrates the insights of Post-Keynesian monetary theory and the triangular contracts of the Circulation Approach and expresses them in a way that shows consistent asset and liability matching through a balance sheet approach. The creation and valuation of money and the determination of interest are embedded within the central processes of this economy. The features of the monetary production economy we analyse are in contrast to the mainstream proposition that the economy as a whole is rendered coherent by the existence of a unique and stable equilibrium determined by the utility-maximisation of households and the profit maximisation of firms. Apart from their inability to describe the economy in aggregate, such models treat money as an afterthought that is in no way core to their conception. We set the triangular contracts within a rigorous stock-flow framework of the type developed by Godley and Lavoie and argue that the shifting of the level of impact of uncertainty and failed expectations induced by money leads to specific patterns of economic disruption. These patterns are independent of the specific behavioural characteristics of households and firms and so are robust to policy changes that leave the institutions of the monetary production economy intact. We briefly assess current monetary policy and alternatives in the light of these findings.
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10دورية أكاديمية
المؤلفون: Fong, Yuk-fai, Szentes, Balázs
المصدر: International Economic Review, 2005 Aug 01. 46(3), 957-971.
الوصول الحر: https://www.jstor.org/stable/3663500Test
النص الكامل