Jonathan Chiu, Bank of Canada - September 28, 2018
September 28, 2018
Jonathan Chiu, Bank of Canada, will present a seminar at 4:00 PM in Arts 104
Title: The Economics of Cryptocurrencies - Bitcoin and Beyond
Abstract: How well can a cryptocurrency serve as a means of payment? We study the optimal design of cryptocurrencies and assess quantitatively how well such currencies can support bilateral trade. The challenge for cryptocurrencies is to overcome double-spending by relying on competition to update the blockchain (costly mining) and by delaying settlement. We estimate that the current Bitcoin scheme generates a large welfare loss of 1.4% of consumption. This welfare loss can be lowered substantially to 0.08% by adopting an optimal design that reduces mining and relies exclusively on money growth rather than transaction fees to finance mining rewards. We also point out that cryptocurrencies can potentially challenge retail payment systems provided scaling limitations can be addressed.
This seminar is part of the Department of Economics Seminar Series. Everyone is welcome.
Economics student recognized at Washington conference
Posted on 2020-02-26
Dolapo Fadare is the inaugural recipient of the Award for Excellence in Undergraduate Studies from The Sadie Collective
USask alumna named Consul General of Canada
Posted on 2019-11-25
Rachel McCormick (BA’97), who is now based in Dallas, Texas, previously served as head of the Energy and Environment Section at the Canadian Embassy in Washington, D.C., from 2014 – 2019
J.M. Boving Lecture | December 5 2019 | The Two Faces of Populism: Politics or Economics?
Posted on 2019-11-20
The Two Faces of Populism: Politics or Economics? Presented by Professor Barry Eichengreen, University of California Berkeley, at 5:00pm Arts 241.
Lanny Zrill, HEC Montreal - October 28, 2019
Posted on 2019-10-21
Lanny Zrill, HEC Montreal will present a seminar at 4:00pm in Arts 807