The protocol behind cryptocurrencies has first been developed by a mysterious figure: Satoshi Nakamoto who developed the Bitcoin system.
As the hype surrounding cryptocurrencies is behind us, this does not mean that the technology underlying the functioning of those currencies is a force to be reckoned with. Don and Alex Tapscott gave a good summary of the promises of the technology: “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
The prices of cryptocurrencies across the board have recently taken a large dip and no one knows in which direction they will go in the future. The falls in prices largely had to do with bad news and hence a more pessimistic outlook on how governments across the world want to regulate cryptocurrencies.
We are delighted to present our first ever article exchange with another publication: Politics & Policy from Northwestern University. It was founded on August 1st 2010 by four students wanting to raise the tone of political debate on their campus, by creating a non-partisan platform where politically minded students could publish rigourous and academically informed analysis of current events. In their own words “P&P [Politics & Policy] is a community of individuals interested in why world shaping events occur and what impact these events have on our lives.”
We highly encourage you to visit their website to see more content at http://politicsandpolicy.org/, we will be sending some issues of this magazine to their campus to be read by their students, we hope to distribute some of their issues in Toulouse soon!
The last 40 years have witnessed tremendous developments in empirical work in economics. In a recent paper, Josh Angrist and his coauthors show that the proportion of empirical work published in top journals in economics has moved from around 30% in 1980 to over 50% today. This is a very important and welcome trend. In this article, I want to take stock of what I see as the main progress in empirical research and look ahead at the remaining challenges.