We construct a model to capture the Keynesian idea that production and employment decisions are based on expectations of aggregate demand driven by sentiments, and that realized demand follows from the production and employment decisions of firms. We cast the Keynesian idea into a simple model...

We assess the dynamics of the cryptocurrency liquidity pools at the heart of Decentralised Finance (DeFi). We distinguish between liquidity provision and liquidity demand, and show that yields, rather than risks, are the primary factor in determining liquidity provision to these pools. While,...

We assess the dynamics of the cryptocurrency liquidity pools at the heart of Decentralised Finance (DeFi). We distinguish between liquidity provision and liquidity demand, and show that yields, rather than risks, are the primary factor in determining liquidity provision to these pools. While,...