This paper considers whether or not the Bitcoin stably stay in the market as a method of payment using a dual-currency money-search model. In the model, there are traditional money and Bitcoin. The two currencies are classi…ed by the storage cost and the probability that sellers accept particular money for payments. Agents are randomly matched for transactions. To consider substitution e¤ect be...

Inflation targeting has become an increasingly global framework, used by countries of many different types and in all the continents of the world. To assess its global contribution, this paper uses one of the broadest ever surveys of monetary policy frameworks to construct an overall picture from the individual jigsaw pieces of country frameworks. The jigsaw is made up of targets and other meas...

Conditions associated with impaired nitric oxide (NO) activity and accelerated atherosclerosis have been shown to be associated with a reduced bioavailability of tetrahydrobiopterin (BH4). We therefore hypothesized that BH4 supplementation may improve endothelial dysfunction of chronic smokers. Forearm blood flow (FBF) responses to the endothelium-dependent vasodilators acetylcholine (ACh; 0.75...

The distribution of growth cones was studied in the optic nerve of monkeys during the first half of prenatal development using quantitative electron microscopic methods. Our aim was to test the hypothesis that ganglion cell growth cones extend predominantly along the surfaces of the nerve, just beneath the pia mater. A complete census of growth cones in cross sections of the nerve during the ea...

The purpose of this essay is to analyze the circumstances where a monetary economy dominates over a redistributive barter economy in which there is not an absence of double coincidence of wants problem. For this purpose, we develop a spatial general equilibrium model where individuals must trade with intermediaries to acquire the consumption goods that they need; exchange is costly, there is no...

Since the mid-1990s, the U.S. payment system has undergone a transformation featuring a significant decline in the use of paper checks that is quite uneven across consumers and not well understood. This paper shows that characteristics of payment instruments are the most important determinants of their use, by estimating econometric models of consumers’ adoption (extensive margin) and use (inte...

This work reports on the physicochemical characterization of 21 exopolysaccharides (EPS) produced by Lactobacillus and Bifidobacterium strains isolated from human intestinal microbiota, as well as the growth and metabolic activity of the EPS-producing strains in milk. The strains belong to the species Lactobacillus casei, Lactobacillus rhamnosus, Lactobacillus plantarum, Lactobacillus vaginalis...