The concept of innovative educational environment of higher education establishment is considered and its main components are highlighted. The model of the integrated assessment of implementing innovations in higher education establishment is constructed. The developed model for assessing the...

The New Keynesian literature focuses on rules-based interest rate policies, abstracting from the role of monetary aggregates. In the background, though, the quantity equation must hold — every transaction requires money, with money units used in multiple transactions within a period. What is...

Rafael Correa’s presidency in Ecuador (2007 – 2017) exemplifies left-leaning populist regimes in Latin America. However, there is a key difference: Ecuador is a dollarized economy. This removes the possibility of fiscal dominance over monetary policy as is common in populist regimes. This...

In December 2020, Visa, Mastercard, and Discover stopped processing payments for Pornhub, a website based in Canada that allows users around the world to upload and view pornographic videos. Cut off from traditional payment processors, Pornhub had to rely on cryptocurrencies. I consider the...

In a recent article, George Pickering (2019) has taken issue with my work regarding the two potential ways one might deal with the regression theorem in light of bitcoin. Specifically, he argues that I misinterpret 'the purpose and requirements of the regression theorem' (p. 608). His critical...

Economic projections by the Federal Open Market Committee (FOMC) were highly inaccurate in the years during and after the Great Recession. Using a model of collective prediction that weighs the ``wisdom of crowds'' against shared biases, we analyze GDP forecast errors in a panel dataset of FOMC...

The success of bitcoin as a medium of exchange poses a problem for the traditional Austrian view on the emergence of money. In particular, it casts doubt on the regression theorem of Ludwig von Mises, which implies that an item cannot gain acceptance as a medium of exchange without government...

The article deals with the features and characteristics of intelligent systems for modelling business processes. Their classification was made and criteria for comparison were developed. According to the comparative analysis of existing expert systems for intelligent analysis, a reasonable...

We leverage a transaction costs narrative to provide a theoretically unified presentation of the evolution of exchange, with the latest evolutionary frontier being cryptocurrency and decentralized finance. We show that with each new development in the evolution of money, the new form or medium...

The emergence of bitcoin poses an important question for monetary theorists: can bitcoin compete with or even replace existing fiat monies? To answer this question, one must be able to determine what gives intrinsically useless monies their value, what determines the coexistence of alternative...