Hotelling Meets Crypto-Currency: Do Bitcoin Rents Follow Hotelling's Rule?

2019 ◽  
Author(s):  
Craig Landry ◽  
Dylan Turner ◽  
Jeffrey H. Dorfman
Keyword(s):  
Crypto Currency ◽  
Hotelling's Rule

The Legal Status of Cryptocurrencies in the Russian Federation

2018 ◽  
Vol 11 (2) ◽  
pp. 129-137 ◽  
Author(s):  
E. L. Sidorenko
Keyword(s):  
Civil Rights ◽  
Russian Federation ◽  
Legal Status ◽  
Virtual Currency ◽  
Content Analysis Method ◽  
Crypto Currency ◽  
The Subject ◽  
The Russian Federation ◽  
Historical Comparative ◽  
Definition Of

The paper focuses on the definition of the legal status of the cryptocurrency in the framework of the current Russian legislation. The subject of the research is the principal scientific and practical approaches to determining the object of civil rights and the object of acquisitive crimes in terms of their adaptability to cryptocurrencies. The purposes of the work were the search for a universal algorithm for resolving civil disputes related to the turnover of the crypto currency, and the qualification of the virtual currency theft (fraud). By using historical, comparative legal and dialectical methods as well as the content analysis method parallels between cryptocurrencies and individual objects of civil rights (a thing, property rights, other property) were drawn, and a number of options for qualifying the actions related to the non-repayable withdrawal of the cryptocurrency were proposed. Finally, the paper analyzes the draft laws prepared by the RF Ministry of Finance and the Central Bank of the Russian Federation and presents the author’s vision of the prospects for legalizing the cryptocurrency as an object of civil rights.

scholarly journals Linearity extensions of the market model: a case of the top 10 cryptocurrency prices during the pre-COVID-19 and COVID-19 periods

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Serdar Neslihanoglu
Keyword(s):  
State Space Model ◽  
Additive Model ◽  
Market Model ◽  
Time Varying ◽  
Daily Data ◽  
Forecasting Performance ◽  
Modeling And Forecasting ◽  
Crypto Currency ◽  
Beta Risk ◽  
The Relationship

AbstractThis research investigates the appropriateness of the linear specification of the market model for modeling and forecasting the cryptocurrency prices during the pre-COVID-19 and COVID-19 periods. Two extensions are offered to compare the performance of the linear specification of the market model (LMM), which allows for the measurement of the cryptocurrency price beta risk. The first is the generalized additive model, which permits flexibility in the rigid shape of the linearity of the LMM. The second is the time-varying linearity specification of the LMM (Tv-LMM), which is based on the state space model form via the Kalman filter, allowing for the measurement of the time-varying beta risk of the cryptocurrency price. The analysis is performed using daily data from both time periods on the top 10 cryptocurrencies by adjusted market capitalization, using the Crypto Currency Index 30 (CCI30) as a market proxy and 1-day and 7-day forward predictions. Such a comparison of cryptocurrency prices has yet to be undertaken in the literature. The empirical findings favor the Tv-LMM, which outperforms the others in terms of modeling and forecasting performance. This result suggests that the relationship between each cryptocurrency price and the CCI30 index should be locally instead of globally linear, especially during the COVID-19 period.

Crypto Currency: Another Block in the Continuum of Value Exchange

2018 ◽  
pp. 169-171
Author(s):  
Sarah Swammy ◽  
Richard Thompson ◽  
Marvin Loh
Keyword(s):  
Crypto Currency ◽  
The Continuum

Maximin: a direct approach to sustainability

2006 ◽  
Vol 11 (3) ◽  
pp. 275-300 ◽  
Author(s):  
ROBERT D. CAIRNS ◽  
NGO VAN LONG
Keyword(s):  
Precautionary Principle ◽  
Direct Approach ◽  
Necessary Condition ◽  
Hyperbolic Discount ◽  
Discount Factors ◽  
Discounted Utility ◽  
Special Cases ◽  
Analytic Expression ◽  
Hotelling's Rule ◽  
Competitive Economy

We solve directly a general maximin (sustainment, intergenerational-equity) problem. Because the shadow values of a maximin problem do not correspond to the shadow values from a general discounted-utility solution, they correspond to the prices of only a very special competitive economy. Virtual discount factors for the economy arise. They do not correspond to hyperbolic discount factors. Hartwick's rule is derived and generalized naturally to take into account non-autonomous and non-deterministic features of the economy. Under uncertainty, Hartwick's rule is the analytic expression of a form of precautionary principle. Hotelling's rule is a necessary condition, but may be more complex than has been appreciated in simple models. Some interpretations of strong sustainment are special cases of weak sustainment but, paradoxically, may be more difficult to solve.

scholarly journals Crypto currency's "economic nature" in the light of new monetary theory

2021 ◽  
Vol 34 (01) ◽  
pp. 258-269
Author(s):  
Vyacheslav I. Karpunin ◽  
Tatiana S. Novashina
Keyword(s):  
Economic Model ◽  
International Monetary System ◽  
Social Engineering ◽  
Modern Theory ◽  
Intrinsic Structure ◽  
Monetary System ◽  
Information Program ◽  
The Social ◽  
Crypto Currency ◽  
Economic Nature

The systemic and functional analysis of economic nature of Crypto currency within the modern theory of money is a necessary essential component of the study that allowed the authors to formulate a vision of social and economic model of future international monetary system. The authors consider the substance of money in a dialectic unity of the transformation of forms and spheres of its being. The forms of being of money are: material, monetary, paper, electronic. The spheres of being of money are: social, - the "symbol money"; economic, - the "bank notes"; political and legal, - "monetary units". In this paper we show that money is a financial instrument. Money is a market form of universal claim to a share in the wealth of society. The uncovering of internal intrinsic structure of money allows the authors to show convincingly that a currency, especially a "Crypto currency", cannot have and does not have an "economic nature". In considering the process of historical transformation of international monetary systems, taking into account the real achievements of financial, information, program and social engineering for the creation of a digital "gold" the authors believe that the social and economic model of future international monetary system has received its real approbation.

scholarly journals Prospects of the Central Bank Digital Currencies in the Post-Soviet States

2021 ◽  
pp. 145-163
Author(s):  
A. Polivach
Keyword(s):  
Central Bank ◽  
Final Decision ◽  
Crypto Currency

This article analyses prospects of introduction of Central Bank Digital Currencies (CBDC) in eleven post-Soviet states as well as their policy towards crypto-currencies. Azerbaijan, Armenia, Kyrgyzstan and Moldova have not taken a final decision yet about the CBDC while the crypto-currency industry is not regulated by law and is not much developed in these countries. Belarus, Georgia and Uzbekistan attempt to get profits by stimulating crypto-currency industry and making their jurisdictions attractive for such business. But these countries also have not decided yet about the CBDC. Kazakhstan and Tajikistan announced plans to introduce national CBDCs. Ukraine attempts to go in both directions – to stimulate crypto-currency industry and to introduce national CBDC.

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