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Displaying results 1 to 3 of 3.

  1. Relative pricing and efficient allocation in blockchains
    Author: Ndiaye, Abdoulaye
    Published: November 2024
    Publisher:  CESifo, Munich, Germany

    This paper investigates how relative pricing schemes can achieve efficient allocations in blockchain systems featuring multiple transaction queues under a global capacity constraint. I model a capacity-constrained blockchain where users submit... more

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    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63
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    No inter-library loan

     

    This paper investigates how relative pricing schemes can achieve efficient allocations in blockchain systems featuring multiple transaction queues under a global capacity constraint. I model a capacity-constrained blockchain where users submit transactions to different queues—each representing a submarket with unique demand characteristics—and decide to participate based on posted prices and expected delays. I find that revenue maximization tends to allocate capacity to the highest-paying queue, whereas welfare maximization generally serves all queues. Optimal relative pricing of different queues depends on factors such as market size, demand elasticity, and the balance between local and global congestion. My results have implications for the implementation of local pricing for evolving blockchain architectures, including parallel transaction execution, directed acyclic graph (DAG)-based systems, and multiple concurrent proposers.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CESifo working papers ; 11467 (2024)
    Subjects: blockchain; fintech; transactions; parallel execution; fee markets; consensus
    Scope: 1 Online-Ressource (circa 27 Seiten)
  2. The effects of sanctions on Russian banks in TARGET2 transactions data
    Author: Drott, Constantin; Goldbach, Stefan; Nitsch, Volker
    Published: [2024]
    Publisher:  Technische Universität Darmstadt, Darmstadt, Germany

    This paper examines the effect of financial sanctions at the most disaggregated level possible, individual bank accounts. Using data from the Eurosystem's real-time gross settlement system TARGET2, we provide empirical evidence that sanctions imposed... more

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    Verlag (kostenfrei)
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    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 53
    Inter-library loan:
    No inter-library loan

     

    This paper examines the effect of financial sanctions at the most disaggregated level possible, individual bank accounts. Using data from the Eurosystem's real-time gross settlement system TARGET2, we provide empirical evidence that sanctions imposed by the European Union on Russian banks following Russia's aggression against Ukraine in 2014 and 2022 have sizably reduced financial transactions with sanctioned Russian bank accounts, both along the extensive and intensive margins. Among the various sanction measures taken, exclusion from SWIFT, a global provider of secure financial messaging services, turns out to have the largest effects.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/281199
    Series: Darmstadt discussion papers in economics ; Nr. 245
    Subjects: financial flows; transactions; restrictions
    Scope: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  3. Financial literacy, risk tolerance, and cryptocurrency ownership in the United States
    Author: Hayashi, Fumiko; Routh, Aditi
    Published: [2024]
    Publisher:  Federal Research Bank of Kansas City, Kansas City, Mo.

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    Verlag (kostenfrei)
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 359
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: KcFED research working papers ; RWP 24, 03 (March 2024)
    Subjects: Cryptocurrency; investment; transactions; financial literacy; risk tolerance
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen