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Posted 2021-02-05 Abstract The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way. This article highlights opportunities and potential risks of the DeFi ecosystem. I propose a multi-laye
IP, Inflation, and Liquidity Premia Find research from economists Ana Maria Santacreu on intellectual property rights in Review of Economics and Statistics and Fernando Martin on inflation and liquidity premia in Review of Economic Dynamics.
The Impact of Milton Friedman on Modern Monetary Economics: Setting the Record Straight on Paul Krugman's "Who Was Milton Friedman?" Working Paper 2007-048D by Edward Nelson and Anna J. Schwartz Paul Krugman’s essay “Who Was Milton Friedman?” seriously mischaracterizes Friedman’s economics and his legacy. In this paper we provide a rejoinder to Krugman on these issues. In the course of setting the
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