You are kindly invited to attend the Eesti Pankʼs research seminar in Teams on 13 March at 11:00 am, when Michael Burda (Humboldt University of Berlin) will present on “The Macroeconomics of Cryptocurrencies: Three Easy Pieces”.
In his study, Prof Burda surveys the capacity of simple macroeconomic models to account for persistent, positive valuations of privately issued digital assets based on the blockchain. Each of these ”three easy pieces” – models of transactions demand for a medium of exchange, consumption-based capital asset pricing, and search and matching – highlights important dimensions of digital assets. Until technological innovations can separate joint features that characterize cryptocurrencies, however, their mutual interference is likely to impede their widespread adoption as a form of money.
MS Teams link
Meeting ID: 355 740 492 239
Passcode: u4GE9V7X