Free DP Download 11 January 2021 - THE MICROECONOMICS OF CRYPTOCURRENCIES
THE MICROECONOMICS OF CRYPTOCURRENCIES
Neil Gandal, Joshua Gans, Guillaume Haeringer, Hanna Halaburda
CEPR DP No. 14972 June 2020
Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies and blockchains. While the discussions initially took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academic research on these topics. By the nature of the phenomenon analyzed, this research spans many academic disciplines including macroeconomics, law and economics and computer science. This CEPR study by Neil Gandal, Joshua Gans, Guillaume Haeringer and Hanna Halaburda focuses on the microeconomics of cryptocurrencies themselves. What drives their supply, demand, trading price and competition amongst them. This literature has been emerging over the past decade and the purpose of this paper is to summarize its main findings so as to establish a base upon which future research can be conducted.
You can hear Neil Gandal discuss the research in DP14972 in this VoxTalks podcast The microeconomics of cryptocurrencies
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