In no uncertain terms: The effect of uncertainty on credit frictions and monetary policy

Balke, Nathan S.; Martínez‐García, Enrique; Zeng, Zheng

doi:10.1016/j.econmod.2021.03.012

Cited by 5 publications

(2 citation statements)

References 59 publications

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“…Growth and volatility are the most fundamental core issues in the FM fields. The solution of information asymmetry not only helps to reduce the volatility and systemic risks of the financial system but also improves the efficiency of actual economic activities and resource allocation and enables finance to empower the real economy 17 .…”

Section: The Application Of Blockchain In the Fm Linkage Mechanismmentioning

confidence: 99%

Dynamic financial and monetary security risk assessment based on information service security assessment model and blockchain

2023

Sci Rep

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With the rapid development of blockchain technology, the financial and monetary (FM) blockchain fields also began to collide. Therefore, this study aims to explore the relationship between the two fields and efficiently evaluate the security of financial information. Firstly, this study introduces the theoretical basis of blockchain in the dynamic linkage mechanism of FM and gives the overall framework of digital currency based on blockchain. Meanwhile, the relationship between blockchain and digital finance is empirically analyzed and designed. Secondly, the framework of financial information service security assessment (ISSA) is created using blockchain technology, and the frame of security risk evaluation is verified by taking electronic invoice information as the research object. Finally, the results show that: (1) foreign exchange (forex) events and major stock index decline events have a significant impact on the return of Bitcoin (BTC) in the short term. Moreover, more than 70% of uncertainty events will make BTC’s abnormal return (AR) significantly positive; (2) Under the influence of forex uncertainty events, only one BTC’s AR is remarkably negative in short order, while the other seven times are markedly positive. In the uncertainty events of major stock indexes, only two times are significantly negative, and the other six times are positive. This indicates that uncertain events in the short run make prominent AR of BTC; the proposed blockchain-based ISSA model and assessment index are scientific, feasible, and operable.

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Section: The Application Of Blockchain In the Fm Linkage Mechanismmentioning

confidence: 99%

Dynamic financial and monetary security risk assessment based on information service security assessment model and blockchain

2023

Sci Rep

View full text Add to dashboard Cite

show abstract

“…A Theory of Monetary Policy Risk and Irreversible Investment Bloom (2009), Bloom (2014), Born and Pfeifer (2014), Leduc and Liu (2016), Basu andBundick (2017), andArellano et al (2019), among many others, have investigated the macroeconomic effects-and more recent papers like Balke et al (2021) have also explored the nonlinearities-arising from both aggregate uncertainty and micro-uncertainty. These theoretical and empirical contributions are largely motivated by the notion that uncertainty impacts real economic activity because firms can choose to postpone their investment when uncertainty heightens-in the literature this has become known as the option value of waiting channel.…”

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confidence: 99%