nep-pay New Economics Papers
on Payment Systems and Financial Technology
Issue of 2023‒03‒13
25 papers chosen by

  1. Fintech Payments in Public Financial Management: Benefits and Risks By Ms. Naomi N Griffin; Gerardo Uña; Majid Bazarbash; Alok Verma
  2. Cryptocurrency competition: An empirical test of Hayek's vision of private monies By Mayer, Fabian; Bofinger, Peter
  4. Real Estate Tokens' Traders: Driven by Crypto Hype or Cash-Flow By Bertram Steininger; Julia Kreppmeier; Ralf Laschinger; Gregor Dorfleitner
  5. A Feasible Approach to Projecting Household Demand For The Digital Ruble in Russia By Vadim Grishchenko; Alexey Ponomarenko; Sergey Seleznev
  6. Mandating Digital Tax Tools as a Response to Covid: Evidence from Eswatini By Amine, Razan; Santoro, Fabrizio
  7. “G20 Members’ Approaches to Regulating Digital Markets” By A.V. Shelepov; O.I. Kolmar
  8. Data portability in open banking: Privacy and other cross-cutting issues By OECD
  9. The Promise and Limitations of Information Technology for Tax Mobilisation By Scarpini, Celeste; Okunogbe, Oyebola; Santoro, Fabrizio
  11. Digital inclusion in Caribbean digital transformation frameworks and initiatives: a review By Alexander, Dale; Døhl Diouf, Lika; Prescod, Kwesi
  12. On the Fragility of DeFi Lending By Jonathan Chiu; Emre Ozdenoren; Kathy Yuan; Shengxing Zhang
  13. Cyber Security vs. Digital Innovation: A Trade-off for Logistics Companies? By Heierhoff, Sebastian; Hoffmann, Nils
  14. Short Squeeze in DeFi Lending Market: Decentralization in Jeopardy? By Lioba Heimbach; Eric G. Schertenleib; Roger Wattenhofer
  15. Real Estate Token: Concept, Regulation, and Market Volume By Bertram Steininger; Lucas Casillo; Michael Truebestein
  16. Seasonality of Short Term Rentals: Case Study from Airbnb in Istanbul By Omar Radwan Abdellah; Kerem Yavuz Arslanli
  17. Stablecoins and the Financing of the Real Economy By Jean Barthélémy; Paul Gardin; Benoit Nguyen
  18. "The Ways that Digital Technologies Inform Visitor's Engagement with Cultural Heritage Sites: Informal Learning in the Digital Era " By Wenrui Wang
  19. Proposal for a Forecasting Methodology to Predict Commercial Real Estate Values in Istanbul Using Social Big Data By Maral Taclar; Kerem Yavuz Arslanli
  20. Potential of mobile applications in human-centric production and logistics management. By Zhang, Minqi; Grosse, Eric H.; Glock, Christoph H
  21. Gold as International Reserves: A Barbarous Relic No More? By Mr. Serkan Arslanalp; Chima Simpson-Bell; Mr. Barry J. Eichengreen
  22. Tagungsbericht Konferenz „Opportunities and Risks of Digital Transformation in Finance and Beyond“ By Beilner, Maximilian; Pinski, Marc; Ray, Jessica; Schmidt, Jan-Hendrik; Sehorz, Jan; Tilk, Philipp
  23. Economics of ChatGPT: A Labor Market View on the Occupational Impact of Artificial Intelligence By Zarifhonarvar, Ali
  24. Measuring Cybercrime and Cyberdeviance in Surveys By Buil-Gil, David; Trajtenberg, Nicolas; Aebi, Marcelo F.
  25. Protección Financiera de los Adultos Mayores: una Evaluación de los Determinantes del Gasto Catastrófico en Salud en Argentina By Juan Marcelo Virdis; María Eugenia Elorza; Fernando Delbianco

  1. By: Ms. Naomi N Griffin; Gerardo Uña; Majid Bazarbash; Alok Verma
    Abstract: Fintech payments leverage large digital platforms to fill gaps in the traditional payment system. They have made great strides in increasing access to payment services in several countries around the globe. At the same time, like any innovation, the new payment models are exposed to risks in their operating environment. We review the main fintech payment models (mobile money, internet-based fintech payment, and digital money) and discuss operational and financial risks as well as challenges they face. We then explore how public financial management (PFM), especially treasury payments and non-tax revenue collections, could benefit from fintech payments by providing examples of early fintech applications in different countries and discuss the challenges of integrating them into the public sector. The use of fintech in public finance could bring various benefits—including strengthening fiscal transparency, improving budget planning and execution, and upgrading cash management—if public sector institutional and technological capacities are strengthened and risks are adequately mitigated.
    Keywords: financial technology; fintech; public financial management; payments; budget systems; financial management information system
    Date: 2023–02–03
  2. By: Mayer, Fabian; Bofinger, Peter
    Abstract: We investigate monopolistic tendencies and the intensity of currency competition on the crypto market in the light of Hayek's "Denationalization of money". Interestingly, Hayek never considered differentiation and specialization by innovative private currencies could lead lasting currency competition instead of network effects. We argue that competition between private currencies could run on different functions of money, especially the function as a store of value and that as a means of exchange, which partly explains the differences in the set-up of private currencies that Hayek demanded and that of cryptocurrencies. Drawing on a large sample of 101 cryptocurrencies and a time frame from 2016 to 2022, we empirically examine the evolution and degree of competition on the crypto market, also taking changes in general crypto market structure into account. We find that competition is strong for unpegged cryptocurrencies that mostly compete as a speculative store of value. Competition is also strong for stablecoins when competing as a stable store of value. Competition is much less pronounced for the function as a means of exchange and network effects and monopolistic tendencies are more likely to be present on this sub-market.
    Keywords: Hayek, Cryptocurrencies, Functions of Money, Currency Competition, NetworkEffects, Monopol
    JEL: B25 D40 E42 E50 E51 L11
    Date: 2023
  3. By: Simonov A. (The Russian Presidential Academy Of National Economy And Public Administration); Zyamalov V. (The Russian Presidential Academy Of National Economy And Public Administration); Sukhobok O. (The Russian Presidential Academy Of National Economy And Public Administration)
    Abstract: The cryptocurrency market is currently continuing its growth and development, which is evidenced by the number of new projects on specialized resources, as well as the emergence of new ways of placing projects and raising funds. The aim of the study is to analyze the impact of the emergence of cryptocurrencies on traditional ways of attracting funding. The study is relevant because, as has been repeatedly noted in the existing literature, a significant part of cryptocurrency projects is similar to crowdfunding aimed at raising funds for startups. In this regard, cryptocurrencies can compete with traditional sources of financing, such as venture funding. The authors are not aware of any other work that studies this aspect of cryptocurrencies, which makes this topic relevant in terms of understanding the possibilities of aspiring entrepreneurs to attract initial funding. Using the methods of econometric analysis and data on initial coin offerings, IPOs and deals with venture capital companies, the authors studied the relationship between the emergence of cryptocurrencies and the conditions of traditional methods of raising funds. As a result, it was shown that the growth in the number of ICOs has a positive effect on improving the conditions for providing funds during IPOs and deals with venture capital companies.
    Keywords: cryptocurrencies, ICO, IPO, VC
  4. By: Bertram Steininger; Julia Kreppmeier; Ralf Laschinger; Gregor Dorfleitner
    Abstract: After solving the double-spending problem of digital assets (tokens), the application possibilities of digital rights and goods have increased enormously over the past years. Even if the market for digital tokens is in its infancy, it is an innovation that has the potential to disrupt how we transfer ownership of financial instruments. The real estate market has been identified as a major market for digital fractional ownership using the Distributed Ledger Technology (Blockchain). In addition to funds and REITs, real estate tokens are an additional form of indirect investment vehicles, which lower the high entry barriers into the asset class of real estate and allow diversification in multi-asset portfolios.We collected the data of real estate tokens in the USA between 2019 and 2021 and trace back the transactions published on the Blockchain. In doing so, we analyze the success determinants of Security Token Offerings and secondary market trading. We disentangle the success on the property and wallet/investor level. We find that in addition to the fundamental factors (cash-flow, size, and property type), also the market sentiment for the local real estate market and general crypto market are relevant for explaining the success of the offering. The attractiveness of the location is of minor importance.
    Keywords: blockchain; Digital Asset; Real Estate Token; Security Token Offering
    JEL: R3
    Date: 2022–01–01
  5. By: Vadim Grishchenko (Bank of Russia, Russian Federation); Alexey Ponomarenko (Bank of Russia, Russian Federation); Sergey Seleznev (Bank of Russia, Russian Federation)
    Abstract: We estimated a model of households’ usage of alternative payment instruments (cash and bank cards) using a new dataset from a survey of Russian households. In our modelling set-up, households’ preferences are determined by the instruments’ perceived attributes and hence their choice regarding payment methods depends on the differences across instruments in these attributes. The results indicate a statistically significant sensitivity of consumer choice to the perceived attributes. We employ the estimated model to evaluate the demand for CBDC depending on its expected design and consumers’ perception of it. We discuss several illustrative projections to demonstrate the application of the tool developed. The predicted utilisation of CBDC varies considerably depending on the attributes hypothesised, although under the conservative assumptions, the projected use of CBDC in household transactions is limited.
    Keywords: : Central Bank Digital Currency, Digital Ruble, payment instruments, ordered probit, banknotes, bank cards, Russia
    JEL: E42 E47 E50 E58
    Date: 2023–02
  6. By: Amine, Razan; Santoro, Fabrizio
    Abstract: To reduce physical contact, Covid-19 forced many tax authorities to embrace digital technologies for filing and payment. Pandemic control aside, e-filing and e-payment hold great promise in facilitating taxpayer compliance, increasing transparency and curbing opportunity for collusion (Okunogbe and Santoro 2021). Eswatini mandated e-filing for all income taxpayers in September 2020, through the online e-Tax platform. Subsequently, the tax administration launched a zero-cash-handling policy for tax payments in April 2021. Our paper evaluated the impact of the e-Tax mandate on income taxpayers’ filing and payment behaviour, examining the following questions: (i) What is the impact of mandating e-filing on filing and payment compliance? (ii) Are there any spillover effects on filing and payment accuracy? (iii) What are the key mechanisms that explain the results? Summary of Working Paper 140 by Fabrizio Santoro, Razan Amine and Tanele Magong.
    Keywords: Finance, Health,
    Date: 2023
  7. By: A.V. Shelepov (The Russian Presidential Academy Of National Economy And Public Administration); O.I. Kolmar (The Russian Presidential Academy Of National Economy And Public Administration)
    Abstract: The object of this working paper is the policy and priorities of the digital economy leaders (the G20 members) in regulating digital platforms. The goal of the study is to assess the impact of these countries’ policies in the field of digital platforms regulation and to develop recommendations regarding Russia’s policy on digital platforms and its participation in developing new global regulatory approaches. In order to achieve this goal, the working paper addresses the following objectives: to clarify the criteria and select the leading countries from among the G20 members on the basis of expert assessments and data from international ratings; to carry out the analysis of policies and priorities of the selected digital leaders (UK, USA, Canada, EU, Japan, Korea, India, China) as well as Russia in regulating digital platforms; to develop recommendations regarding Russia’s policy on digital platforms regulation at the national level, as well as promoting its approach within the G20 and other multilateral institutions. The study is highly relevant since the leading developed countries increase their regulatory potential, including through the consistent inclusion of their standards and cooperation norms they have developed in the documents adopted by multilateral organizations, and thus create a global market for their goods and services, and additional opportunities for their companies. The study shows that a strong potential exists for a positive effect in terms of a coordinated approach to regulating digital platforms’ activities at the international level. In this context, it is important for Russia to integrate the issues of digital platforms regulation into the BRICS and G20 digital economy agendas.
    Keywords: digital economy, digital markets regulation, digital platforms, competition, monopolization, consumer protection, personal data, interoperability
  8. By: OECD
    Abstract: Open banking allows users to access financial information and services through consent-based data portability. This paper brings together the views of private and public experts from a wide variety of countries to explore opportunities and challenges of open banking for financial regulation, privacy protection, and competition. It discusses the different approaches taken by jurisdictions across the globe, and the importance of regulation and standards. While open banking empowers users in sharing and re-using their data across digital services, online platforms, sectors and borders, uncertainty in the interactions with data protection and privacy regimes remains challenging. This paper informs OECD work to consider how cross-sectoral cooperation between financial, competition and data protection authorities could help further open banking.
    Date: 2023–02–16
  9. By: Scarpini, Celeste; Okunogbe, Oyebola; Santoro, Fabrizio
    Abstract: As digital technologies continue gaining momentum in Africa and lower-income countries, more and more tax authorities are adopting them to improve their core functions and collect revenue more efficiently. This paper reviews recent literature on using technology for tax administration. Technology has the potential to improve tax collection in three areas: identifying the tax base, monitoring compliance, and facilitating compliance. But even the most user-friendly technology will hardly function without basic infrastructure and a stable internet connection. The potential benefits of new technology are further hampered by resistance from taxpayers and collectors, an unsupportive regulatory environment and lack of strategy for adoption by institutions. We close by proposing reforms to ensure investments in new technology improve efficiency and revenue collection. This is a summary of Working Paper 135 by Oyebola Okunogbe and Fabrizio Santoro.
    Keywords: Technology,
    Date: 2023
  10. By: Sakib, S M Nazmuz
    Abstract: Not all the cryptocurrencies that exist now are actual a number of the human beings are the usage of the concept of cryptocurrency to dedicate the acts of fraud.In an occasion of fraud to a firm, accounting for economic statements is not possible and have an effect on the manner financial sports are carried out.Terrorists` sports purpose is to terrorise human beings and countries.The assist to terrorist impacts numerous human beings.Whenever terrorist contains out their sports the financial sports are affected that is a severe trouble of concern.Most of the cash laundering sports have additionally been directed toward the usage of cryptocurrency and makes use of felony commercial enterprise to cowl up for them, those impacts how the economic statements seem and also can have an effect on the whole commercial enterprise economic accounting if matters do now no longer fall into the proper place.Whenever the cryptocurrency transaction facts`s aren't properly disclosed the difficulty of accounting remedy turns into hard to assess and absence accounting remedy assessment disrupts the economic accounting processes.This influences significantly on how it's far handled in economic accounting and might cause numerous confusions.The trouble of relevancy of the cryptocurrency transaction has been addressed withinside the observe.The unfaithfulness of the customers of cryptocurrency may additionally cause the technology of untrustworthy accounting facts which may also have an effect on the financial sports or the firm`s choice making.The commercial enterprise version is likewise an trouble raised that wishes to be properly understood which will make a really perfect preference for the commercial enterprise with the intention to now no longer have an effect on the accounting facts and choice making.A observe has to have a issue, the issue that turned into visible on this observe is that the research predominant vicinity of studies turned into very particular to commercial enterprise economic accounting and financial sports and this vicinity of studies has now no longer been explored through many researches, therefore the studies centered at the confined facts accrued concerning this vicinity of studies.
    Date: 2021–12–30
  11. By: Alexander, Dale; Døhl Diouf, Lika; Prescod, Kwesi
    Abstract: This study evaluates the extent to which digital inclusion is considered in Caribbean digital transformation frameworks. Digital inclusion considers the ways in which digital divides are created as the digital transformation of society progresses, and how societal inequalities affect and are affected by digital technologies. As such, digital inclusion is a lens through which the effects of the digital transformation can be assessed. The study assesses the digital transformation policies of 11 countries and territories of the Caribbean and complements this analysis with qualitative data gathered through surveys and interviews from ICT focal points and policymakers in the region.
    Date: 2023–01–10
  12. By: Jonathan Chiu; Emre Ozdenoren; Kathy Yuan; Shengxing Zhang
    Abstract: We develop a dynamic model of decentralized finance (DeFi) lending that incorporates two/these key features: 1) borrowing and lending are decentralized, anonymous, overcollateralized and backed by the market value of crypto assets where contract terms are pre-specified and rigid; and 2) information friction exists between borrowers and lenders. We identify a price-liquidity feedback: the market outcome in any given period depends on agents’ expectations about lending activities in future periods, with higher price expectations leading to more lending and higher prices in that period. Given the rigidity inherent to smart contracts, this feedback leads to multiple self-fulfilling equilibria where DeFi lending and asset prices move with market sentiment. We show that flexible updates of smart contracts can restore equilibrium uniqueness. This finding highlights the difficulty of achieving stability and efficiency in a decentralized environment without a liquidity backstop.
    Keywords: Digital currencies and fintech; Financial stability
    JEL: G10 G01
    Date: 2023–02
  13. By: Heierhoff, Sebastian; Hoffmann, Nils
    Date: 2022–01–27
  14. By: Lioba Heimbach; Eric G. Schertenleib; Roger Wattenhofer
    Abstract: Anxiety levels in the AAVE community spiked in November 2022 as Avi Eisenberg performed an attack on AAVE. Eisenberg attempted to short the CRV token by using funds borrowed on the protocol to artificially deflate the value of CRV. While the attack was ultimately unsuccessful, it left the AAVE community scared and even raised question marks regarding the feasibility of large lending platforms under decentralized governance. In this work, we analyze Avi Eisenberg's actions and show how he was able to artificially lower the price of CRV by selling large quantities of borrowed CRV for stablecoins on both decentralized and centralized exchanges. Despite the failure of his attack, it still led to approximately 1.6 Mio USD of irretrievable debt and, thereby, quadrupled the protocol's irretrievable debt. Furthermore, we highlight that his attack was enabled by the vast proportion of CRV available to borrow as well as AAVE's lending protocol design hindering rapid intervention. We stress Eisenberg's attack exposes a predicament of large DeFi lending protocols: limit the scope or compromise on `decentralization'.
    Date: 2023–02
  15. By: Bertram Steininger; Lucas Casillo; Michael Truebestein
    Abstract: Private and intuitional investors alike use real estate investments in their multi-asset portfolios to reduce their total risks by the positive characteristics such as low volatility or correlation with other asset classes. However, investments in direct or private real estate also bear drawbacks such as high transaction costs, long transaction time, large volumes, low liquidity, or the need for real estate market expertise. Thus, the financial industry has developed various investment vehicles (open-end or closed-end funds, REITs, stocks, etc.) to lower the market entrance barriers for investors with lower investment volume and knowledge. The recent engineered product is a real estate token, a digital form of assets that is equipped with value, rights, and obligations. It enables the fractionalization of properties into small investment volumes using the Distributed Ledger Technology (DLT), and the trading, as well as the rent distribution, are organized in an automated process with Smart Contracts.Currently, the possibility to tokenize properties is limited so most projects use the indirect way through special purpose vehicles (SPV). This paper explains the most used concepts, recent developments, regulations, and a first market overview for the USA and Europe (Switzerland and Germany). We show the development of the primary and secondary markets after the tokens are issued by Security Token Offerings (STO).
    Keywords: blockchain; Distributed Ledger Technology; Smart Contract; tokenization
    JEL: R3
    Date: 2022–01–01
  16. By: Omar Radwan Abdellah; Kerem Yavuz Arslanli
    Abstract: The short-term rental market has grown rapidly over the last decade. Airbnb (and other online accommodation sharing platforms, which provide an online market that links people with each other as host and guest system) is attracting much interest, as it has implications for the real estate market worldwide. The impacts vary across the globe depending on the context. As Airbnb comes at the forefront of short rentals platforms in this market in Istanbul, Turkey Airbnb has the biggest share, which attracted many researchers trying to answer the generated and raised questions. Using scrapped data from Airbnb websites, this paper offers insights into Airbnb usage patterns and how they vary across different districts of Istanbul with different types of provided properties and how they correlate with asked prices. Seasonality has a significant effect in the real estate market as it directly affects supply and demand, so We used the number of reviews variable in the dataset as an indicator of the demand to study the seasonality pattern and how prices fluctuate over time to different reasons. The paper also explored the asked rent prices in the long-term leases using data from Emlak 360 and Endeksa websites and compared it to short-term rentals. This is continuing research that provides a map for the Istanbul dataset that will inspire and establish new aspects to academics and professionals in the Turkish market to further analyze how the market acts at certain times.
    Keywords: Airbnb; Istanbul; Residential Market; Short Term Rentals
    JEL: R3
    Date: 2022–01–01
  17. By: Jean Barthélémy; Paul Gardin; Benoit Nguyen
    Abstract: Stablecoins are crypto-assets that aim to maintain a stable value relative to a fiat currency. This paper documents one implication of their massive growth since 2020 for the financing of the real economy. The largest stablecoins manage their peg with the US dollar by holding short-term safe assets. We identify changes in the stablecoin demand for US dollardenominated commercial papers (CP) by exploiting cross-sectional and time-varying heterogeneity in the main tablecoins’ reserve assets policy. We show that CP issuers catered to the additional demand from stablecoins by issuing more, illustrating the implications of stablecoins for financial stability and the financing of the real economy.
    Keywords: : Crypto-Assets, Stablecoins, Financial Markets, Safe Assets
    JEL: G14 G23 G29
    Date: 2023
  18. By: Wenrui Wang ("University of Sheffield, Western Bank, S10 2TN, Sheffield, The U.K. " Author-2-Name: Author-2-Workplace-Name: Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective - Heritage sites are typical informal learning spaces that play significant roles in promoting cultural and historical knowledge among visitors. Visitors' engagement with heritage sites is a traditional view of exploring the informal learning spaces in the cultural sector. Methodology/Technique - Informal learning within heritage sites, however, has been informed and changed by digitization and virtualization in the cultural sector. But this generates new research interests in establishing links between traditional and digital cultural studies using a case study methodology. Finding - This paper discussed several cases to show how digital technologies inform visitors' engagement with heritage sites. Novelty - In this way, this paper also explores informal learning in the digital era. This paper also offers suggestions for future researchers in this area. Type of Paper - Empirical"
    Keywords: Engagement, informal learning, digital heritage sites, digital technologies, cultural sector, digital era.
    JEL: Z10
    Date: 2023–12–31
  19. By: Maral Taclar; Kerem Yavuz Arslanli
    Abstract: This paper provides a new forecasting methodology for commercial real estates in Istanbul using social big data. Big data has gained popularity as a tool for the growth of real estate research in recent years. Location-based social networks (LBSNs), in particular, provide an excellent potential to demonstrate the characteristics of metropolitan cities and human activities within. Whilst there is relatively limited research on the relationship between social big data and real estate values, most of the existing research focuses on residential properties. This paper aims to discover the potential of social media data to forecast the future rent/price levels of retail properties in stanbul. Two different LBSN platforms, Instagram and Twitter, are chosen as the social media data sources. For the timeframe, June 2019 - May 2021, 16 million geo-tagged Instagram posts and 230 thousand geo-referenced tweets from a total of 174 thousand venues are collected by the authors. The data set is clustered by relevant districts of Istanbul and the spatial distribution of social media content is observed. Finally, the data sets are combined with the commercial real estate data temporally for the districts. Multivariate time-series analyses are conducted to obtain the optimum prediction model and interval. This method increases the accuracy in rent and/or price predictions by selecting the best exogenous variables and forecasting models for each district, where applicable. This paper demonstrates the significance and the leveraging potential of adapting human activities to the decision-making processes of the commercial real estate sector.
    Keywords: commercial real estate; Large Data Sets Modelling; Multivariate Time Series Analysis; Urban Spatial Analysis
    JEL: R3
    Date: 2022–01–01
  20. By: Zhang, Minqi; Grosse, Eric H.; Glock, Christoph H
    Date: 2022–06–24
  21. By: Mr. Serkan Arslanalp; Chima Simpson-Bell; Mr. Barry J. Eichengreen
    Abstract: After moving slowly downward for the better part of four decades, central bank gold holdings have risen since the Global Financial Crisis. We identify 14 “active diversifiers, ” defined as countries that purchased gold and raised its share in total reserves by at least 5 percentage points over the last two decades. In contrast to the diversification of foreign currency reserves, which has been undertaken by advanced and developing country central banks alike, active diversifiers into gold are exclusively emerging markets. We document two sets of factors contributing to this trend. First, gold appeals to central bank reserve managers as a safe haven in periods of economic, financial and geopolitical volatility, when the return on alternative financial assets is low. Second, the imposition of financial sanctions by the United States, United Kingdom, European Union and Japan, the main reserve-issuing economies, is associated with an increase in the share of central bank reserves held in the form of gold. There is some evidence that multilateral sanctions imposed by these, and other countries have a larger impact than unilateral sanctions on the share of reserves held in gold, since the latter leave scope for shifting reserves into the currencies of other non-sanctioning countries.
    Keywords: International Reserves; Gold; Sanctions; aggregate gold share regression; gold appeal; share of gold; gold share; country level gold share regression; Gold reserves; Reserve assets; Gold prices; Global
    Date: 2023–01–27
  22. By: Beilner, Maximilian; Pinski, Marc; Ray, Jessica; Schmidt, Jan-Hendrik; Sehorz, Jan; Tilk, Philipp
    Date: 2022
  23. By: Zarifhonarvar, Ali
    Abstract: This study examines how ChatGPT affects the labor market. I first thoroughly analyzed the prior research that has been done on the subject in order to start understanding how ChatGPT and other AI-related services are influencing the labor market. Using the supply and demand model, I then assess ChatGPT's impact. This paper examines this innovation's short- and long-term effects on the labor market, concentrating on its challenges and opportunities. Furthermore, I employ a text-mining approach to extract various tasks from the International Standard Occupation Classification to present a comprehensive list of occupations most sensitive to ChatGPT.
    Keywords: Large Language Models, Artificial Intelligence, Automation, Labor Saving Technology, ChatGPT, Labor Market, Generative AI, Occupational Classification
    JEL: O33 E24 J21 J24
    Date: 2023
  24. By: Buil-Gil, David (University of Manchester); Trajtenberg, Nicolas; Aebi, Marcelo F.
    Abstract: Cybercrime is on the rise, and so is the need to systematically analyze its prevalence, distribution, causes, and consequences. While official records (mainly police, prosecution and court statistics) provide important information to explore online crime, they have been subject to extensive criticism due to the presence of measurement error arising from the combined influences of victims’ underreporting and recording practices. Consequently, researchers, crime analysts and policy makers are increasingly relying on estimates of cybercrime and cyberdeviance based on surveys. This chapter reviews the measures of cybercrime and cyberdeviance included in national crime surveys, including household and business victimization surveys and self-report offending surveys. The chapter describes, categorizes and compares measures included in surveys, and discusses opportunities and limitations to generate reliable and valid estimates to study cybercrime and cyberdeviance. Measures included in surveys do not capture the diversity of criminal and deviant behaviors that take place online, and some surveys only probe about certain frauds that may take place both on and offline. The chapter identifies opportunities for researchers to utilize existing data to advance our understanding of online victimization and offending, and provides methodological recommendations to improve the recording of cybercrime and cyberdeviance in existing surveys.
    Date: 2023–02–05
  25. By: Juan Marcelo Virdis (Universidad Nacional del Sur/CONICET); María Eugenia Elorza (Universidad Nacional del Sur/CONICET); Fernando Delbianco (Universidad Nacional del Sur/CONICET)
    Date: 2023–02

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