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Facebook announced the introduction of a "New Global Digital Payment Coin" called Libra for the first half of 2020 to enable foremost payment services in "WhatsApp" and "Facebook Messenger". Libra is built on a distributed ledger technology (DLT) environment developed by Facebook. Libra is a so-called “Stable Coin”, which is a crypto-asset that is tied to a basket of bank deposits and...
This research seminar is jointly organized with the Collaborative Research Center TRR 190 „Rationality and Competition“
The aim of this project is to estimate the impact of monetary policy on structural reforms in the euro area. We first identify exogenous ECB policy changes through an event study that extracts the unexpected variation in euro area interest rates on policy announcement days. We estimate then the effect of monetary policy shocks on the number of reforms and investigate whether the effect is stronger...