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| 001 | 9.921953 |
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| 003 | CaOODSP |
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| 005 | 20230425150236 |
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| 006 | m o d f |
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| 007 | cr |n||||||||| |
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| 008 | 230425t20232023oncd ob f|0| 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 041 | |aeng|beng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2023-14E-PDF |
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| 100 | 1 |aChiu, Jonathan, |eauthor. |
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| 245 | 10|aOn the fragility of DeFi lending / |cby Jonathan Chiu, Emre Ozdenoren, Kathy Yuan andShengxing Zhang. |
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| 264 | 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2023. |
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| 264 | 4|c©2023 |
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| 300 | |a1 online resource (40 pages) : |bcharts. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2023-14 |
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| 500 | |a"Last updated: February 22, 2023." |
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| 504 | |aIncludes bibliographical references (pages 27-29). |
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| 520 | |a"We develop a dynamic model of decentralized finance (DeFi) lending that incorporates two/these key features: 1) borrowing and lending are decentralized, anonymous, overcollateralized and backed by the market value of crypto assets where contract terms are pre-specified and rigid; and 2) information friction exists between borrowers and lenders. We identify a price-liquidity feedback: the market outcome in any given period depends on agents’ expectations about lending activities in future periods, with higher price expectations leading to more lending and higher prices in that period"--Abstract. |
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| 546 | |aIncludes abstract in French. |
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| 650 | 0|aDigital currency. |
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| 650 | 0|aLoans. |
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| 650 | 6|aMonnaie électronique. |
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| 650 | 6|aPrêts. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2023-14.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s894 KB|uhttps://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-5-2023-14-eng.pdf |
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