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Criptoactivos: análisis y revisión de literatura

Author

Listed:
  • Julián A. Parra
  • Carlos Arango
  • Joaquín Bernal
  • José E. Gómez
  • Javier Gómez
  • Carlos León
  • Clara Machado
  • Daniel Osorio
  • Daniel Rojas
  • Nicolás Suárez
  • Eduardo Yanquen

Abstract

El artículo comienza por hacer un análisis de la estructura del sistema sobre el que operan los usuarios de los criptoactivos (criptomonedas), especialmente del nivel efectivo de descentralización de esa red. Posteriormente, se presenta una revisión de la literatura académica reciente sobre: (i) los determinantes de la dinámica de los precios de los criptoactivos, (ii) las implicaciones de la presencia de criptoactivos sobre la política monetaria de una economía, (iii) el impacto de los criptoactivos sobre la estabilidad financiera, y (iv) las consideraciones hechas por aquellos que han sugerido o implementado algún tipo de regulación en relación con los criptoactivos. ****** The article begins with an analysis of the structure of the system on which the users of cryptoassets (cryptocurrencies) interact, especially of the actual level of decentralization of that network. Subsequently, the article examines recent academic literature on: (i) the determinants of the evolution of cryptoassets’ prices, (ii) the implications of the presence of cryptoassets on the monetary policy of an economy, (iii) the impact of cryptoassets on financial stability, and (iv) the considerations made by those who have suggested or implemented some kind of regulation related to cryptoassets.

Suggested Citation

  • Julián A. Parra & Carlos Arango & Joaquín Bernal & José E. Gómez & Javier Gómez & Carlos León & Clara Machado & Daniel Osorio & Daniel Rojas & Nicolás Suárez & Eduardo Yanquen, 2019. "Criptoactivos: análisis y revisión de literatura," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, issue 92, pages 1-37, November.
    • Handle: RePEc:bdr:ensayo:y:2019:i:92:p:1-37
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    More about this item

    Keywords

    Bitcoin; criptomoneda; criptoactivo; sistemas de pago; activos especulativos;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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