0561397 20230324085956.020220921235959.9 85102304459 000720832100041 10.1016/j.frl.2021.101991 5 s. P cav_un_epca*03619971544-612343Elsevier Crypto currencies Crypto assets Bitcoin Stablecoins Tether Spillovers cav_un_auth*0256902 Krištoufek Ladislav UTIA-B Ekonometrie Department of Econometrics E E Department of Econometrics CZ Ústav teorie informace a automatizace AV ČR, v. v. i. http://library.utia.cas.cz/separaty/2022/E/kristoufek-0561397.pdf https://www.sciencedirect.com/science/article/pii/S1544612321000726?via%3Dihub GA20-17295S GA ČR cav_un_auth*0397556 Stablecoins and their leader Tether have been one of the controversial topics of cryptomarkets and their role in price rallies of the past few years has been questioned repeatedly. Using the generalized vector autoregressive framework and directed spillovers based on the forecast error variance decompositions, we find no evidence of stablecoins boosting the prices of other cryp- toassets. On the contrary, the increased stablecoins issuances come in reaction to the other cryptoassets price changes, which suggests they rather reflect increasing demand in investing into the cryptomarkets that gets materialized in demand for the “digital fiat”. WOS AH 50000 50200 50201 2023 1 RVO:67985556 https://hdl.handle.net/11104/0334060 S 101991 1* Article Business Finance C BUSINESS.FINANCE 7.600 4.961 1.9 0.0122 1.26 10844 123 2.007 25.42 8.85 5765 Q1 8.776 486 Q1 99.5 Q2 Q1 3.01 Q1 99.55 2021 85102304459 SCOPUS PUBMED 000720832100041 WOS cav_un_epca*0361997 Finance Research Letters 1544-6123 1544-6131 Roč. 43 č. 1 2021 Elsevier PRINT