The specific feature of the Overlapping Generations Model is that new cohorts are born in every period, live for a number of periods and die. Consequently, at any point in time, society is composed of individuals belonging to the different generations that are currently alive. Because of the demographic structure of the population, no trade involving individuals about to die is possible and hen...

Historically, Muslims used various payment forms to contribute their Zakat Fitrah, from rice fiat money and digital as the medium. Paying Fitrah in Malaysia using FinTech is getting attention 2020 due COVID-19 pandemic. A rigorous study must be conducted understand users’ behavioural intention adopt technology. The model of Theory Planned Behaviour its development, including technology per UTAU...

A model that includes the cost of producing money is presented and the nature of the inefficient equilibria in the model are examined. It is suggested that if one acknowledges that transactions are a form of production, which requires the consumption of resources, then the concept of Pareto optimality is inappropriate for assessing efficiency. Instead it becomes necessary to provide an appropri...

In a pure-currency economy, money is the only durable object and people have private histories so that they cannot be punished individually in the future for current actions. In many such economies, trade is enhanced through the use of money and taxation is not feasible. For economies of that kind in which the distribution of money is a state variable, the conjecture is that there are transfer ...

We modify the Kiyotaki and Wright (1991, J. Economic Theory 53, 215 235; 1993, Amer. Econom. Rev. 83, 63-77) framework so that there is a universal double coincidence of wants in all barter matches. We also introduce divisible service sidepayments into the model and allow agents to bargain over bundles of goods, services and money in bilateral matches. In asymmetric matches, the agent that valu...

Cryptocurrencies have become popular. Economic agents use cryptocurrency such as bitcoins to make payments and it pose a threat fiat currency. Central banks begun respond this threat. They realize that they need join the race offer digital currency dominate landscape which can lead collapse of most private currencies are not issued by central bank or monetary authority. In paper, I show how iss...

In this article, we model the two most market-capitalised public, open and permissionless blockchain implementations, Bitcoin (BTC) Ethereum (ETH), as a System of Systems (SoS) public blockchains. We study concepts blockchain, BTC, ETH, complex networks, SoS Engineering intentional risk. analyse BTC ETH from an perspective through main properties that seminal (SoSE) references propose. This art...

In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank loans and the monetary aggregate is determined by the monetary base and the required reserve ratio. I...