Author(s):Clemens Graf von Luckner, Carmen Reinhart, and Kenneth Rogoff Date:January 2023 Abstract: This paper employs high frequency transactions data on the world’s two oldest and most extensive centralized peer-to-peer Bitcoin markets, which enables trade in the currencies of more than 160 countries. We develop an algorithm that allows us, with high probability, to detect “crypto[…]

Author(s):Niall Ferguson, Martin Kornejew, Paul Schmelzing, and Moritz Schularick Date:January 2023 Abstract: This paper studies the evolution of central bank balance sheets over the past 400 years across 17 major economies. The size of central bank balance sheets has varied substantially over time relative to economic and financial activity. Major balance sheet expansions were initially[…]