David Tercero-Lucas's Avatar

David Tercero-Lucas

@david-iii-lucas.bsky.social

PhD Economics (UAB, Spain). Macroeconomics Professor - ICADE, Comillas (Madrid). Main research topics: Crypto & CBDCs, Monetary Policy, Payments. LinkedIn: http://n9.cl/xjzzj

182 Followers  |  149 Following  |  31 Posts  |  Joined: 30.11.2024  |  1.511

Latest posts by david-iii-lucas.bsky.social on Bluesky

Preview
Canadian Bitcoin Ownership in 2023: Key Takeaways The Bitcoin Omnibus Survey is an important tool for monitoring Canadians’ awareness and ownership of bitcoin and other cryptoassets over time. In this paper, we present data highlights from the 2023 s...

Crypto | Canadian Bitcoin Ownership in 2023: Key Takeaways, by Balutel et al, as Bank of Canada Staff Discussion Paper.

www.bankofcanada.ca/2025/03/staf...

13.03.2025 19:54 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
All that glitters: A theory of multiple bubbles with implications for cryptocurrencies We analyze a model of heterogeneous rational bubbles that compete and complement each other. When some bubbles burst, surviving ones gain value, offse…

Crypto | All that glitters: A theory of multiple bubbles with implications for cryptocurrencies, by Han & Wang on the JME.

www.sciencedirect.com/science/arti...

09.03.2025 22:04 β€” πŸ‘ 1    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
DP19997 Consumer Attitudes towards a Central Bank Digital Currency We field a series of experiments in a population-representative survey of European consumers to examine their attitudes towards the possible introduction of a digital euro. First, we show that a short video explaining the key features of the digital euro is effective in changing consumers’ beliefs about such a new form of payment and increases the likelihood of adoption by 12pp relative to a control group that is not shown the video. Second, we find that on aggregate consumers would allocate a relatively small fraction from a positive wealth shock to digital euros and their allocation to other liquid assets would be little affected. Third, holding limits in the range of €1,000 to €10,000 have insignificant differential effects on the composition of liquid asset holdings. We also show that a non-trivial fraction of consumers report that they will not adopt the digital euro due to strong preferences for existing forms of payment.

CBDCs | Consumer Attitudes towards a Central Bank Digital Currency, by Georgarakos et al., as a CEPR Discussion Paper.

cepr.org/publications...

07.03.2025 00:38 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
The Decline of Too Big to Fail (March 2025) - For globally systemically important banks (GSIBs) with US headquarters, we find significant reductions in market-implied probabilities of government bailout after the Global Financial C...

Banking | The Decline of Too Big to Fail, by Berndt et al., on American Economic Review.

www.aeaweb.org/articles?id=...

28.02.2025 16:03 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
E-money and monetary policy transmission The rise of e-money in low-income and emerging economies has transformed financial inclusion and monetary policy transmission. Case studies from sub-Saharan Africa show that e-money and banking sectors complement each other, strengthening monetary policy effectiveness. This column uses data from 47 countries over 20 years to show that e-money leads to stronger policy passthrough, increased bank deposits and lending, and enhanced competition. The findings suggest that policymakers should ensure e-money remains accessible without bank accounts, encourage collaboration between e-money issuers and banks, and leverage e-money to improve financial stability and inclusion.

Monetary policy | E-money and monetary policy transmission, by Huang et al. on VOX EU - CEPR.

cepr.org/voxeu/column...

28.02.2025 08:07 β€” πŸ‘ 1    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Stablecoins: the real crypto craze Policymakers are racing to catch up with their rapid rise

Crypto | Stablecoins: the real crypto craze - on The Economist.

www.economist.com/finance-and-...

24.02.2025 23:01 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
It matters even more: Central bank independence, long-run inflation, and persistence Central bank independence has recently re-emerged as a major concern within political economy discussions. This column shows that improvements in central bank independence yield long-lasting benefits, with a significantly greater impact on inflation in the long run compared to the short run. Additionally, it shows that central bank independence reduces inflation persistence, thereby enhancing the effectiveness of monetary policy. Finally, and in contrast to much of the existing literature, it finds that the long-term effects of central bank independence on inflation are more pronounced in developing countries.

Monetary policy | It matters even more: Central bank independence, long-run inflation, and persistence, by Athanasopoulos et al., on VOX EU.

cepr.org/voxeu/column...

18.02.2025 23:55 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Are CBDCs Doomed to be Put on Ice? Exploring Project Delays, Challenges and Potential | The Fintech Times With Trump stopping work on a digital dollar, and central banks delaying plans, will CBDCs ever become a reality across the globe?

CBDCs | Are CBDCs Doomed to be Put on Ice? Exploring Project Delays, Challenges and Potential, by Tom Bleach on the FinTech Times.

thefintechtimes.com/are-cbdcs-do...

17.02.2025 08:59 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Speech by Governor Waller on stablecoins

Stablecoins | Reflections on a Maturing Stablecoin Market, by Governor C. J. Waller - at A Very Stable Conference, San Francisco, California.

www.federalreserve.gov/newsevents/s...

12.02.2025 22:40 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Hedge fund Elliott warns White House is inflating crypto bubble that β€˜could wreak havoc’ Supporting digital assets that could marginalise the dollar is β€˜dangerous’, investor letter says

Crypto | Hedge fund Elliott warns White House is inflating crypto bubble that β€˜could wreak havoc’ - via Financial Times.

on.ft.com/40FvG1R

31.01.2025 11:02 β€” πŸ‘ 3    πŸ” 2    πŸ’¬ 0    πŸ“Œ 0
Preview
Tokenization and Financial Market Inefficiencies Most financial assets are digital today. Tomorrow, they may be tokenized. Tokenization implies recording and transferring assets on a widely shared and trusted digital ledger that can be programmed. I...

Crypto | Tokenization and Financial Market Inefficiencies, by I. Agur et al.

www.imf.org/en/Publicati...

30.01.2025 22:35 β€” πŸ‘ 2    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Czech central bank head wants it to buy billions of euros in bitcoin Governor tells FT β€˜I like profitability’ and predicts others could follow his example

Crypto | Czech central bank head wants it to buy billions of euros in bitcoin, on the FT.

giftarticle.ft.com/giftarticle/...

29.01.2025 09:42 β€” πŸ‘ 2    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Strengthening American Leadership in Digital Financial Technology – The White House By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote United States

Crypto | Strengthening American Leadership in Digital Financial Technology - The White House.

www.whitehouse.gov/presidential...

26.01.2025 00:18 β€” πŸ‘ 3    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Grupo de universidades lanza encuesta global de criptomonedas En la encuesta sobre criptomonedas participan, entre otras, las universidades de Mannheim, Viena, Heidelberg, Istinye o Pontificia Comillas

Si tenΓ©is 6-7min, Β‘no dudΓ©is en hacer la encuesta!

observatorioblockchain.com/criptomoneda...

20.01.2025 11:21 β€” πŸ‘ 1    πŸ” 1    πŸ’¬ 0    πŸ“Œ 0
State of Crypto Survey

Dear network,

Could you please complete the following independent survey we have just launched? #crypto #digital #Bitcoin #Ethereum #DeFi #Stablecoins #NFTs #memecoins

survey.stateofcrypto.net

Thank you so much and happy new year!

03.01.2025 00:14 β€” πŸ‘ 5    πŸ” 1    πŸ’¬ 0    πŸ“Œ 0
Preview
Can CIPS Replace SWIFT? Insights from Bank of China's Former Vice President Former Bank of China VP Wang Yongli: CIPS Should Separate Fund Account and Messaging Systems

Interesting read: a Chinese banking insider sees little chance of China’s Cross-border Interbank Payment System (CIPS) replacing SWIFT. Unlike SWIFT, CIPS isn’t just a messaging systemβ€”it’s also a settlement system, which creates extra baggage for potential adopters.

www.fredgao.com/p/can-cips-r...

07.01.2025 02:13 β€” πŸ‘ 9    πŸ” 6    πŸ’¬ 0    πŸ“Œ 0
State of Crypto Survey

Dear network,

Could you please complete the following independent survey we have just launched? #crypto #digital #Bitcoin #Ethereum #DeFi #Stablecoins #NFTs #memecoins

survey.stateofcrypto.net

Thank you so much and happy new year!

03.01.2025 00:14 β€” πŸ‘ 5    πŸ” 1    πŸ’¬ 0    πŸ“Œ 0
Preview
Return trajectory and the forecastability of bitcoin returns This paper tests the extent to which the ability to correctly predict subsequent bitcoin (BTC) return signs is dependent upon historic BTC return trajectories. Using topological data analysis ball ma...

Crypto | Return trajectory and the forecastability of bitcoin returns, by Rudkin et al., on The Financial Review.

onlinelibrary.wiley.com/doi/10.1111/...

27.12.2024 16:36 β€” πŸ‘ 2    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
The crypto collapse chronicles: Decoding cryptocurrency exchange defaults This research explores the factors contributing to the failure of cryptocurrency exchanges by analyzing a sample of 845 exchanges. Using logit and pro…

Crypto | The crypto collapse chronicles: Decoding cryptocurrency exchange defaults, by Sapkota on the Journal of International Financial Markets, Institutions and Money.

www.sciencedirect.com/science/arti...

27.12.2024 13:51 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Economics of Ethereum We provide comprehensive background regarding the Ethereum blockchain protocol, focusing especially on the economic incentives of participants. We beg…

Crypto | Economics of Ethereum, by John et al., on the Journal of Corporate Finance.

www.sciencedirect.com/science/arti...

21.12.2024 12:11 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
Anatomy of the Bank Runs in March 2023 The runs lasted two days and were driven mainly by a relatively small number of large depositors, though it affected many other banks.

Banking | Anatomy of the Bank Runs in March 2023, by Cipriani et al., Economic Brief Richmond Fed.

www.richmondfed.org/publications...

20.12.2024 21:49 β€” πŸ‘ 0    πŸ” 1    πŸ’¬ 0    πŸ“Œ 0
Preview
CBDC in the Market for Payments at the Point of Sale: Equilibrium Impact and Incumbent Responses We simulate introducing a central bank digital currency (CBDC) and consider consumer adoption, merchant acceptance and usage at the point of sale. Modest adoption frictions significantly inhibit CBDC ...

Central bank digital currencies | CBDC in the Market for Payments at the Point of Sale: Equilibrium Impact and Incumbent Responses, by Engert et al., as Bank of Canada Staff Working Paper.

www.bankofcanada.ca/2024/12/staf...

20.12.2024 21:45 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0

Are you on the Econ job market, want to join a vibrant Economics department with a teaching-research balance, and live in a great European city?

Join us at Comillas - ICADE in Madrid!

➑️ intranet.comillas.edu/TrabajaenCom...

#EconSky #EconJobMarket

20.12.2024 17:33 β€” πŸ‘ 1    πŸ” 1    πŸ’¬ 1    πŸ“Œ 0
Preview
IMF 1 - El Bitcoin 0 [FREE TO READ] RIP Chivo, we hardly knew ye

Go home, coinbros. You've had your fun, but now the adults are back in charge.

on.ft.com/4iBK1EO

19.12.2024 13:14 β€” πŸ‘ 19    πŸ” 8    πŸ’¬ 1    πŸ“Œ 0
State of Crypto Survey

Crypto | If you have 7-8minutes, we have just released a new crypto survey.

Even if you do not own crypto, your opinion would be really useful!

Link: survey.stateofcrypto.net

10.12.2024 14:39 β€” πŸ‘ 0    πŸ” 2    πŸ’¬ 0    πŸ“Œ 0
State of Crypto Survey

Crypto | If you have 7-8minutes, we have just released a new crypto survey.

Even if you do not own crypto, your opinion would be really useful!

Link: survey.stateofcrypto.net

10.12.2024 14:39 β€” πŸ‘ 0    πŸ” 2    πŸ’¬ 0    πŸ“Œ 0

In a global context singed by protectionism, polarization, and trade wars, the EU-MERCOSUR agreement brings a new prose to the geopolitical narrative.

Climate concerns being crucial in the negotiations shows how the new generation of trade agreements works. It also reflects both blocs' priorities.

09.12.2024 22:10 β€” πŸ‘ 4    πŸ” 3    πŸ’¬ 2    πŸ“Œ 0
Preview
Payments Are Going Digital, but Many Seniors Still Rely on Cash β€œWe’re putting another burden on the elderly that we don’t have to,” one researcher said.

Cash | Payments Are Going Digital, but Many Seniors Still Rely on Cash, by P. Span on the NYT.

www.nytimes.com/2024/12/07/h...

08.12.2024 12:02 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
The Cryptocurrency You May Not Even Know You Own Many funds hold stakes in MicroStrategy, which behaves like Bitcoin’s wilder cousin. This may not be what you want in your retirement portfolio, our columnist says.

Crypto | The Cryptocurrency You May Not Even Know You Own, by Jeff Sommer on the New York Times.

www.nytimes.com/2024/12/06/b...

08.12.2024 10:49 β€” πŸ‘ 1    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0
Preview
FSOC warns stablecoins remain a 'potential risk' to financial stability The United States Financial Services Oversight Council (FSOC) pointed out in its annual report that the stablecoin market is β€œheavily concentrated, with a single firm holding around 70 percent of the ...

Crypto | FSOC warns stablecoins remain a 'potential risk' to financial stability, by Lyons on Cointelegraph.

cointelegraph.com/news/united-...

08.12.2024 10:30 β€” πŸ‘ 0    πŸ” 0    πŸ’¬ 0    πŸ“Œ 0

@david-iii-lucas is following 20 prominent accounts