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arXiv 2111.04483econ.GNcs.CRq-fin.EC
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重新审视货币的属性

Revisiting the Properties of Money

Isaiah Hull, Or Sattath

摘要:

经济学文献中经常提到的货币属性最初是由杰文斯(Jevons,1876)和门格尔(Menger,1892)在19世纪末确定的,旨在描述实物货币,如商品货币,金属硬币和纸币。在数字时代,许多非实体货币要么已经进入流通,要么正在开发中,包括活期存款、加密货币、稳定币、央行数字货币(CBDC)、游戏内货币和量子货币。这些形式的货币具有新颖的性质,在经济学文献中尚未得到广泛研究,但可能是即将到来的货币竞争加剧时代出现的货币均衡的重要决定因素。本文第一次详尽地尝试识别和定义所有物理和数字形式的货币的属性。它回顾了经济学和计算机科学文献,并在包括社会和监管目标在内的货币原始功能和属性框架的扩展版本中对属性进行了分类。

英文摘要:

The properties of money commonly referenced in the economics literature were originally identified by Jevons (1876) and Menger (1892) in the late 1800s and were intended to describe physical currencies, such as commodity money, metallic coins, and paper bills. In the digital era, many non-physical currencies have either entered circulation or are under development, including demand deposits, cryptocurrencies, stablecoins, central bank digital currencies (CBDCs), in-game currencies, and quantum money. These forms of money have novel properties that have not been studied extensively within the economics literature, but may be important determinants of the monetary equilibrium that emerges in the forthcoming era of heightened currency competition. This paper makes the first exhaustive attempt to identify and define the properties of all physical and digital forms of money. It reviews both the economics and computer science literatures and categorizes properties within an expanded version of the original functions-and-properties framework of money that includes societal and regulatory objectives.

机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。

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