# Quasi fiscal policy

`kaal:entity:quasi-fiscal-policy`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `quasi-fiscal-policy`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 1 works, 2017 to 2017.

**2017**

- [3067615-011](https://wulfkaal.github.io/claims/3067615-011) [mechanism/argued] -- Adjusting the commercial benefits attached to a token operates as a quasi fiscal policy tool: increasing those benefits raises aggregate demand for a given token supply and can offset the depreciating effect of a large supply in circulation.
  > First, the increase in commercial benefits associated with a token heightens the aggregate demand of the given token supply. Second, commercial benefits associated with a token issuance can help offset depreciated supply scarcity
  Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615
- [3067615-012](https://wulfkaal.github.io/claims/3067615-012) [design/argued] -- Adjusting commercial benefits associated with a token issuance is preferable to blunt monetary intervention, because it avoids more drastic measures such as emergency sales, building token reserves, or changing the token supply in circulation.
  > Fourth, adjusting the commercial benefits associated with a given token issuance avoids more drastic monetary policy intervention by way of emergency sales or building token reserves or a decrease or increase of token supply in circulation.
  Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/quasi-fiscal-policy.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.