Cryptocurrency Competition and Dynamics

By Thomas Gebhart. University of Minnesota. --- We build a model of competition among privately issued cryptocurrencies. We use a well-known monetary economics environment, the Lagos-Wright model, and include founders who can issue their own currencies in order to maximize their utility. Founders are endowed with productive capital that allows them to invest in projects that span multiple periods.

International, Macroeconomics

Financial Development and Economic Growth at Different Income Levels

By Cody Kallen. Washington University of St. Louis. --- This paper examines the effects of financial development on growth rates using a sample of countries at different points in time, with the observation for each country beginning at the year it reaches a GDP per capita of $10,000 in constant 2005 dollars.