THE POLITICAL ECONOMY OF BITCOIN

被引：62

作者：

Hendrickson, Joshua R. ^{[1
]}

Hogan, Thomas L. ^{[2
]}

Luther, William J. ^{[3
]}

机构：

[1] Univ Mississippi, Dept Econ, University, MS 38677 USA

[2] Troy Univ, Johnson Ctr Polit Econ, Troy, AL 36082 USA

[3] Kenyon Coll, Dept Econ, Gambier, OH 43022 USA

来源：

ECONOMIC INQUIRY | 2016年 / 54卷 / 02期

关键词：

TRANSACTION POLICY; GOVERNMENT; EXCHANGE;

D O I：

10.1111/ecin.12291

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The recent proliferation of bitcoin has been a boon for users but might pose problems for governments. Indeed, some governments have already taken steps to ban or discourage the use of bitcoin. In a model with endogenous matching and random consumption preferences, we find multiple monetary equilibria including one in which bitcoin coexists with official currency. We then identify the conditions under which government transactions policy might deter the use of bitcoin. We show that such a policy becomes more difficult if some users strictly prefer bitcoin because they can avoid other users holding the official currency in the matching process. (JEL C78, E41, E42, E50)

引用

页码：925 / 939

页数：15