宏观经济因素对加密货币收益的影响分析——基于分位数回归研究

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2024-11-27 DOI:10.1016/j.iref.2024.103757

Minghui Lin , Ye Liu , Vincent Ng Kim Sheng

{"title":"宏观经济因素对加密货币收益的影响分析——基于分位数回归研究","authors":"Minghui Lin , Ye Liu , Vincent Ng Kim Sheng","doi":"10.1016/j.iref.2024.103757","DOIUrl":null,"url":null,"abstract":"<div><div>This paper uses data from January 2018 to early May 2024 as a sample to study the impact of macroeconomic factors on cryptocurrency returns. The empirical study finds that the price index of means of production significantly negatively impacts bitcoin returns. The US dollar exchange rate also significantly negatively impacts bitcoin returns, while Treasury yields have a positive effect.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103757"},"PeriodicalIF":4.8000,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Analysis of the impact of macroeconomic factors on cryptocurrency returns - Based on quantile regression study\",\"authors\":\"Minghui Lin , Ye Liu , Vincent Ng Kim Sheng\",\"doi\":\"10.1016/j.iref.2024.103757\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This paper uses data from January 2018 to early May 2024 as a sample to study the impact of macroeconomic factors on cryptocurrency returns. The empirical study finds that the price index of means of production significantly negatively impacts bitcoin returns. The US dollar exchange rate also significantly negatively impacts bitcoin returns, while Treasury yields have a positive effect.</div></div>\",\"PeriodicalId\":14444,\"journal\":{\"name\":\"International Review of Economics & Finance\",\"volume\":\"97 \",\"pages\":\"Article 103757\"},\"PeriodicalIF\":4.8000,\"publicationDate\":\"2024-11-27\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Economics & Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1059056024007494\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056024007494","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

摘要

本文以2018年1月至2024年5月初的数据为样本，研究宏观经济因素对加密货币回报的影响。实证研究发现，生产资料价格指数显著负向影响比特币收益。美元汇率对比特币收益也有显著的负面影响，而美国国债收益率则有积极影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Analysis of the impact of macroeconomic factors on cryptocurrency returns - Based on quantile regression study

This paper uses data from January 2018 to early May 2024 as a sample to study the impact of macroeconomic factors on cryptocurrency returns. The empirical study finds that the price index of means of production significantly negatively impacts bitcoin returns. The US dollar exchange rate also significantly negatively impacts bitcoin returns, while Treasury yields have a positive effect.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.