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  1. Groundwork for social-ecological transformations
    the social contract, global governance and the meaning of time : constructive criticism of the WBGU report world in transition - a social contract for a great transformation
    Autor*in: Manstetten, Reiner; Kuhlmann, Andreas; Faber, Malte; Frick, Marc
    Erschienen: 2021
    Verlag:  ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung GmbH Mannheim, Mannheim, Germany

    A decade ago, the German Advisory Council to the Federal Government on Global Environmental Change (Wissenschaftlichen Beirats der Bundesregierung für Globale Umweltveränderungen - WBGU) published its main report. This attempt to take stock in 2011... mehr

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    Standort:
    Evangelische Hochschule Freiburg, Hochschulbibliothek
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    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    keine Fernleihe

    Standort:
    HeiBIB - Die Heidelberger Universitätsbibliographie
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 15
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    Standort:
    Universitätsbibliothek Mannheim
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    A decade ago, the German Advisory Council to the Federal Government on Global Environmental Change (Wissenschaftlichen Beirats der Bundesregierung für Globale Umweltveränderungen - WBGU) published its main report. This attempt to take stock in 2011 made an impact and provided orientation on both a national and international scale. The WBGU report did not hold back: It aimed to show the urgent need for change in terms of sustainable development through the interplay of politics, economy, society and nature. The central message was: We need a "social contract for a Great Transformation", and it must be implemented by 2021. How is the report to be assessed today? We will summarise the positions of the WGBU report, cite its merits, and comment on them critically and constructively. Our approach examines the five main themes of the report: the global social contract; global governance using the example of the Paris Climate Agreement; acceptance by those involved and affected; the urgency of economic, political and social action; and the concept of the Great Transformation. In our critique, we suggest ways to constructively elaborate on the ideas laid out in the WBGU report, ideas that were not thought through to the end. Our focus lies particularly on how to deal with time and the concept of the Great Transformation. In doing so, we will also address the significance of technical advances, innovation and our own ignorance. The title of the report uses the term "Great Transformation" which acts as a leitmotif throughout. Put forth by Karl Polanyi (1941/44), this term, as used in the WBGU's parlance, is intended to address the far-reaching changes that a regulatory state would have to undertake, along with the participation of the global citizenry, in order to overcome the ecological crisis of the coming decades. In our conclusion, we argue that the idea of a uniformly planned and comprehensively attainable transformation of the current situation is inadequate. Instead, we have observed that different actors in different places have worked at different speeds not on a Great Transformation but on a multitude of social-ecological transformation processes. The effectiveness of such movements - which often emerge spontaneously - has grown to the present day. This gives us hope.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/234324
    Schriftenreihe: Discussion paper / ZEW ; no. 21, 043 (05/2021)
    Schlagworte: Great Transformation; social-ecological transformation; global social contract; consensus; global governance; top-down/bottom-up approach; ignorance; temporal structures; technical progress; international climate policy; WBGU; Fridays for Future
    Umfang: 1 Online-Ressource (18 Seiten)
  2. Distributed ledgers and the governance of money
    Autor*in: Auer, Raphael A.; Monnet, Cyril; Shin, Hyun Song
    Erschienen: November 2021
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    Blockchain technology breathes new life into the classical analysis of money as a substitute for a ledger of all past transactions. While it involves updating the ledger through a decentralized consensus on the unique truth, the robustness of the... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 63
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    Blockchain technology breathes new life into the classical analysis of money as a substitute for a ledger of all past transactions. While it involves updating the ledger through a decentralized consensus on the unique truth, the robustness of the equilibrium that supports this consensus depends on who has access to the ledger and how it can be updated. To find the optimal solution, Buterin's "scalability trilemma" needs to be addressed, so that a workable balance can be found between decentralization, security (i.e. a robust consensus), and scale (the efficient volume of transactions). Using a global game analysis of an exchange economy with credit, we solve for the optimal ledger design that balances the three objectives of this trilemma. We characterize the optimal number of validators, supermajority threshold, fees and transaction size. When intertemporal incentives are strong, a centralized ledger is always optimal. Otherwise, decentralization may be optimal, and validators need to be selected from the set of users of the system.

     
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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/248986
    Schriftenreihe: CESifo working paper ; no. 9441 (2021)
    Schlagworte: market design; money distributed ledger technology; DLT; blockchain; decentralized finance; global game; consensus
    Umfang: 1 Online-Ressource (circa 70 Seiten), Illustrationen
  3. Permissioned distributed ledgers and the governance of money
    Autor*in: Auer, Raphael A.; Monnet, Cyril; Shin, Hyun Song
    Erschienen: 2021
    Verlag:  Bank for International Settlements, Monetary and Economic Department, [Basel]

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 546
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: BIS working papers ; no 924 (January 2021)
    Schlagworte: digital currencies; money; distributedledger; blockchain; coordination game; global game; consensus; market design
    Umfang: 1 Online-Ressource (circa 64 Seiten), Illustrationen
  4. Distributed ledgers and the governance of money
    Autor*in: Auer, Raphael A.; Monnet, Cyril; Shin, Hyun Song
    Erschienen: [2021]
    Verlag:  Study Center Gerzensee, Gerzensee

    Blockchain technology breathes new life into the classical analysis of money as a substitute for a ledger of all past transactions. While it involves updating the ledger through a decentralized consensus on the unique truth, the robustness of the... mehr

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 529
    Fernleihe:
    keine Fernleihe

     

    Blockchain technology breathes new life into the classical analysis of money as a substitute for a ledger of all past transactions. While it involves updating the ledger through a decentralized consensus on the unique truth, the robustness of the equilibrium that supports this consensus depends on who has access to the ledger and how it can be updated. Using a global game analysis of an exchange economy with credit, we solve for the optimal ledger design that balances security, scalability and decentralization. When intertemporal incentives are strong, a centralized ledger is always optimal. Otherwise, decentralization may be optimal.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/247258
    Schriftenreihe: Working paper / Study Center Gerzensee ; 21, 01
    Schlagworte: digital currencies; money; distributed ledger; blockchain; coordination game; global game; consensus; market design
    Umfang: 1 Online-Ressource (circa 70 Seiten), Illustrationen
  5. Permissioned distributed ledgers and the governance of money
    Autor*in: Auer, Raphael A.; Monnet, Cyril; Shin, Hyun Song
    Erschienen: [2021]
    Verlag:  Universität Bern, Faculty of Business, Economics and Social Sciences, Department of Economics, Bern, Switzerland

    We explore the economics and optimal design of "permissioned" distributed ledger technology (DLT) in a credit economy. Designated validators verify transactions and update the ledger at a cost that is derived from a supermajority voting rule, thus... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 182
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    keine Fernleihe

     

    We explore the economics and optimal design of "permissioned" distributed ledger technology (DLT) in a credit economy. Designated validators verify transactions and update the ledger at a cost that is derived from a supermajority voting rule, thus giving rise to a public good provision game. Without giving proper incentives to validators, however, their records cannot be trusted because they cannot commit to verifying trades and they can accept bribes to incorrectly validate histories. Both frictions challenge the integrity of the ledger on which credit transactions rely. In this context, we examine the conditions under which the process of permissioned validation supports decentralized exchange as an equilibrium, and analyze the optimal design of the trade and validation mechanisms. We solve for the optimal fees, number of validators, supermajority threshold and transaction size. A stronger consensus mechanism requires higher rents be paid to validators. Our results suggest that a centralized ledger is likely to be superior, unless weaknesses in the rule of law and contract enforcement necessitate a decentralized ledger.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/242852
    Schriftenreihe: Discussion papers / Universität Bern, Faculty of Business, Economics and Social Sciences, Department of Economics ; 21, 01 (January, 2021)
    Schlagworte: digital currencies; money; distributed ledger; blockchain; coordination game; global game; consensus; market design; Money demand; unit roots; cointegration; structural VARs; natural rate of interest
    Umfang: 1 Online-Ressource (circa 62 Seiten), Illustrationen