Research Areas and Interests

  • Monetary theory & money search models
  • Experimental macroeconomics
  • Dual currency and multi-currency economies
  • Complex systems and agent-based modeling
  • Bitcoin and cryptocurrencies


Publications

Experimental Macroeconomics

Rietz, J. (2019). Secondary currency acceptance: experimental evidence with a dual currency search model. Journal of Economic Behavior & Organization, 166, 403-431. Link.


Blockchain and Cryptocurrencies


Merrill, P., Austin, T. H., Rietz, J., & Pearce, J. (2020). Ping-pong governance: Token locking for enabling blockchain self-governance. In Mathematical Research for Blockchain Economy (pp. 13-29). Springer, Cham. Link.

Pollett, C., Austin, T., Potika, K., & Rietz, J. (2020). TontineCoin: Murder-based proof-of-stake", In 2nd IEEE International Conference on Decentralized Applications and Infrastructures (IEEE DAPPS). Forthcoming.

Merrill, P., Austin, T., Thakker, J., Park, Y., & Rietz, J. (2019). Lock and load: a model for free blockchain transactions through token locking. In 2019 IEEE International Conference on Decentralized Applications and Infrastructures (DAPPCON) (pp. 19-28). IEEE. Link.

Working Papers

Blockchain and Cryptocurrencies

Merrill, P., Austin, T., Thakker, J., Park, Y., & Rietz, J. (2019). Token locking reward model. R&R at IEEE Transactions on Engineering Management.


Works  in Progress

"An idea worth its salt?  Archaeological and economic evidence of salt money in prehistoric Europe."  With Vassil Nikolov and Deniz Kaya.

"Secondary currency acceptance in an agent-based model with evolutionary learning."
I employ agent-based models (“ABMs”) to explore the dynamics of the dual-currency, money search model from Kiyotaki and Wright (1993) as in my paper "Secondary Currency Acceptance: Experimental Evidence." Like laboratory experiments, ABMs allow researchers to test theory in a controlled setting and to analyze emergent behaviors of agents that lead (or not) to equilibria. However, unlike experiments, ABMs also provide researchers with the opportunity to test many more parameter settings with a larger number of heterogeneous agents over a longer period of time than would be possible with human subjects.

"International capital flows vs. the Federal Reserve as determinants of U.S. interest rates." 
Over the last 20 years, there has been a significant inflow of foreign capital into the United States in the form of U.S. Treasury securities purchases, particularly by foreign governments and official institutions (“FOI”). While several past studies have considered the impact of such flows on U.S. long-term interest rates, few, if any, have simultaneously included Federal Reserve purchases of Treasury securities. In this paper, I undertake an empirical analysis that includes both types of purchases, particularly relevant given the Fed’s recent large-scale asset purchase program, and have included updated data through April 2014.


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