什么原因导致的？以色列Shekel和加密货币

IF 0.5 4区社会学 Q3 AREA STUDIES

Israel Affairs Pub Date : 2023-03-02 DOI:10.1080/13537121.2023.2182466

Yuval Arbel, Gil Cohen

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引用次数: 0

摘要

本文利用2012年初至2021年3月底的每日数据，研究了21种法定货币与比特币价格走势之间的关系。我们使用两阶段分析。第一阶段不包括货币，它们与比特币的日收益无关。第二阶段是对其余六种货币进行格兰杰因果检验，以检验比特币格兰杰的滞后超额回报是否导致了货币的超额回报，反之亦然。结果支持比特币格兰杰的回报会导致以色列谢克尔(ILS)的回报，反之亦然的结论。对这些结果的一个可能解释是，比特币和ILS的金融投资者对以色列经济的敏感性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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What caused what? The Israeli Shekel and cryptocurrencies

ABSTRACT This article examines the relationships between 21 fiat currencies to Bitcoin price movements using daily data from the beginning of 2012 to the end of March 2021. We use a two-stage analysis. The first stage excludes currencies, which are uncorrelated with the daily returns of the Bitcoin. The second stage is to run a Granger-causality test on the remaining six currencies to examine whether lagged excess returns on the Bitcoin Granger-cause the excess returns on the currencies or vice versa. Results support the conclusion that the return on Bitcoin Granger-Cause the return on the Israeli Shekel (ILS), but not vice versa. A possible explanation of these outcomes is the susceptibility of financial investors in Bitcoin and the ILS to the Israeli economy.

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来源期刊

Israel Affairs AREA STUDIES-

CiteScore

0.70

自引率

25.00%

发文量

期刊介绍： Whether your major interest is Israeli history or politics, literature or art, strategic affairs or economics, the Arab-Israeli conflict or Israel-diaspora relations, you will find articles and reviews that are incisive and contain even-handed analysis of the country and its problems in every issue of Israel Affairs, an international multidisciplinary journal. Scholarly and authoritative, yet straightforward and accessible, Israel Affairs aims to serve as a means of communication between the various communities interested in Israel: academics, policy-makers, practitioners, journalists and the informed public.