Monthly-frequency OLS test (SAS) of whether dollar-pegged stablecoin issuance compresses 3-month U.S. Treasury bill yields, with a state-dependent bill-scarcity interaction and Newey–West HAC inference, 2020M1–2026M4.
time-series sas econometrics quantitative-finance ols-regression fixed-income monetary-policy defi stablecoins empirical-finance state-dependent interaction-effects treasury-yields newey-west t-bills hac-standard-errors
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Updated
Jun 25, 2026 - SAS