Can Bitcoin serve as an inflation hedge in the USA, Euro area, and Czech markets?
| Název práce v češtině: | Může Bitcoin sloužit jako inflační páka v USA, Eurozóně a ČR? |
|---|---|
| Název v anglickém jazyce: | Can Bitcoin serve as an inflation hedge in the USA, Euro area, and Czech markets? |
| Klíčová slova: | Cryptocurrency, Bitcoin, gold, inflation, inflation hedge, Fisher coefficient, VAR model |
| Klíčová slova anglicky: | Cryptocurrency, Bitcoin, gold, inflation, inflation hedge, Fisher coefficient, VAR model |
| Akademický rok vypsání: | 2017/2018 |
| Typ práce: | bakalářská práce |
| Jazyk práce: | angličtina |
| Ústav: | Institut ekonomických studií (23-IES) |
| Vedoucí / školitel: | prof. PhDr. Ladislav Krištoufek, Ph.D. |
| Řešitel: | skrytý - zadáno vedoucím/školitelem |
| Datum přihlášení: | 15.06.2018 |
| Datum zadání: | 15.06.2018 |
| Datum a čas obhajoby: | 25.01.2023 09:00 |
| Místo konání obhajoby: | Opletalova - Opletalova 26, O105, Opletalova - místn. č. 105 |
| Datum odevzdání elektronické podoby: | 03.01.2023 |
| Datum proběhlé obhajoby: | 25.01.2023 |
| Oponenti: | Mgr. Ing. Tomáš Šestořád |
| Seznam odborné literatury |
| Bibliography:
Boudoukh, J. and Richardson, M. (1993) “Stock returns and inflation: A long-horizon perspective,” The American Economic Review, 83(5), pp. 1346–1355. Available at: https://www.jstor.org/stable/pdfplus/2117566.pdf. Choi, S. and Shin, J. (2022) “Bitcoin: An inflation hedge but not a safe haven,” Finance Research Letters, 46, p. 102379. Available at: https://doi.org/10.1016/j.frl.2021.102379. Fama, E.F. and Schwert, G.W. (1977) “Asset returns and inflation,” Journal of Financial Economics, 5(2), pp. 115–146. Available at: https://doi.org/10.1016/0304-405x(77)90014-9. Fisher, I. (1930) The Theory of Interest as Determined by Impatience to Spend Income and Opportunity to Invest It. Augustusm Kelly Publishers. Matkovskyy, R. and Jalan, A. (2021) “Can Bitcoin Be an Inflation Hedge? Evidence from a Quantile-on- Quantile Model,” Revue ´ Economique, Vol. 72(5), pp. 785–797. Available at: https://doi.org/10.3917/reco.pr2.0173. |
| Předběžná náplň práce |
| Research question and motivation
Can Bitcoin serve as an inflation hedge asset in the US, Euro Area, and Czech markets? Contribution The contribution of this thesis is to find out whether Bitcoin has inflation hedging characteristics for the specified markets (US, Euro Area, and Czech Republic) as cryptocurrencies have not been studied extensively. Methodology Fisher coefficient estimation, hedging demand, Vector Autoregression model. Outline Based on the proposed methodology, relevant data will be collected and used for testing and analyzing Bitcoin as an inflation hedge asset. |