Redeemable Platform Currencies

understanding Platform-Based Digital Currencies

ƒ This article focuses on digital currencies issued by Internet platforms such as Facebook and Amazon. Depending on the platform’s business model, its digital currency may be equipped with different attributes that affect how users can acquire, transfer or redeem the digital currency. In most cases, platforms restrict the functionality of their digital currencies to enhance the business model a...

Is Error-Based Pruning Redeemable?

Error based pruning can be used to prune a decision tree and it does not require the use of validation data. It is implemented in the widely used C4.5 decision tree software. It uses a parameter, the certainty factor, that affects the size of the pruned tree. Several researchers have compared error based pruning with other approaches, and have shown results that suggest that error based pruning...

Correlation Networks Among Currencies

By analyzing the foreign exchange market data of various currencies, we derive a hierarchical taxonomy of currencies constructing minimal-spanning trees. Clustered structure of the currencies and the key currency in each cluster are found. The clusters match nicely with the geographical regions of corresponding countries in the world such as Asia or East Europe, the key currencies are generally...

Common Currencies vs. Monetary Independence∗

We study the optimal monetary policy in a two-country open-economy model under two monetary arrangements: (a) multiple currencies controlled by independent policy makers; (b) common currencies with a centralized policy maker. Our findings suggest that: (i) Monetary policy competition leads to higher long-term inflation and interest rates with large welfare losses; (ii) The inflation bias and th...

Decentralised Currencies Are Probably Impossible