Home

Leontief Paradox theory

Leontief-Paradoxon - Wikipedi

  1. Das Leontief-Paradoxon ist das Ergebnis einer empirischen Untersuchung auf dem Gebiet des internationalen Warenhandels, welche 1954 durch Wassily Leontief veröffentlicht wurde und dem bis dahin unumstrittenen Heckscher-Ohlin-Theorem vollkommen widerspricht. Das Leontief-Paradoxon löste eine Vielzahl von empirischen Folgestudien zum Widerspruch zwischen Empirie und Theorie aus
  2. Leontief Paradox Theory (An Overview) In one of the most widely discussed tests of the factor proportions theory, Leontief attempted to reveal the relative factor proportions structure of U.S. participation in international trade. It was considered that a country will tend to export those commodities which use its abundant factors of production.
  3. Leontief paradox. Leontief's paradox in economics is that a country with a higher capital per worker has a lower capital/labor ratio in exports than in imports. This econometric finding was the result of Wassily W. Leontief 's attempt to test the Heckscher-Ohlin theory (H-O theory) empirically

Leontief Paradox Theory (An Overview) - Economics Discussio

Das Leontief-Paradoxon kann mit der HO-Theorie in Einklang gebracht werden, wenn anerkannt wird, dass die zwischen den Handelsländern bestehende Tarifstruktur das Handelsmuster beeinflussen kann. Ein Zoll ist eine Einfuhrsteuer, die die Einfuhr tendenziell einschränkt Leontief-Paradoxon. Ergebnis eines empirischen Tests der Fak- torproportionentheorie. Im Rahmen einer Input-Output-Studie für die USA (Wassily Leontief, 1953) wurden Arbeits- und Kapitalgehalt der amerikanischen Export- und Im- portkonkurrenzprodukte (als Substitute der Importprodukte) ermittelt. Festgestellt wurde, dass die USA als unbestreitbar. Leontief Paradox Theory (Tinjauan) Dalam salah satu tes yang paling banyak dibahas dari teori proporsi faktor, Leontief berusaha untuk mengungkapkan struktur proporsi faktor relatif dari partisipasi AS dalam perdagangan internasional. Dianggap bahwa suatu negara akan cenderung mengekspor komoditas-komoditas yang menggunakan faktor-faktor produksi. Leontief-Paradoxon. Ergebnis einer empirischen Untersuchung durch Leontief (1954) für die USA, das dem Heckscher-Ohlin-Theorem widersprach: Amerika exportierte überwiegend arbeitsintensive Güter und importierte überwiegend kapitalintensive Güter. Die Diskussion des Paradoxons ergab mehrere Erklärungen für das Ergebnis. Die wichtigsten sind: Aufgrund des hohen Ausbildungsniveaus in den. 1. Leontief Paradox: Wassily Leontief received a Nobel prize in 1973 for his contribution to the input-output analysis. Three of his students, Paul Samuelson, Robert Solow and Vernon Smith also received Nobel prizes. The Heckscher-Ohlin theory states that each country exports the commodity which intensively uses its abundant factor. The HO theory was generally accepted on the basis of casual empiricism. Moreover, there wasn't any technique to test the HO theory until the input-output.

Leontief paradox - Wikipedi

Leontief Paradox | Wassily Leontief | Heckscher-Ohlin Theory | Theories of International Trade. In International economics, The Heckscher-Ohlin theory is considered to be one of the most influential theoretical concepts. Since the theory makes a few simplifying assumptions, it is preferred over Ricardo's Theory by most economists. The. Penyusun : - Bagus Wardhana - Faikar - Gatot Eka Jaya - Ilham 3 PERBEDAAN KEMAMPUAN DAN SUMBER DAYA MANUSIA (SKILLS AND HUMAN CAPITAL) 2 HAMBATAN TARIF DAN NON TARIF (TARRIFF AND NON TARRIF BARRIER) Dikemukakan oleh Wassily Leontief Teori ini bertentangan dengan teori H- What is Leontief Paradox Trade Theory. W. W. Leontief received a Nobel Prize in Economics 1973 and is famous for his input-output analysis. The US is widely recognised to be a capital-abundant country. Therefore, in terms of H-O theory, it is expected that the US would export capital-intensive goods and import labour-intensive ones

Leontief Paradox. This is because the notion of abundance is well-defined, but factor intensity cannot easily be defined. It lent support to the Leontief paradox and contradicted the H-O theory. Economics paradoxes International trade theory. Thus, the Japanese people consumes 10 times as much seafood as Americans per person. Leontief arrived. What is Leontief Paradox Trade Theory. Leontief himself made an attempt to resolve this paradox by claiming that US labour was far more productive than that of the countries from which US got its imports. But Leontief failed to provide any convincing reason for making this rather arbitrary hypothesis. InLeontief found that the United States —the most capital-abundant country in the world. Leontief Paradox Theory (An Overview) Such models are not compatible with the domestic conditions of international trade in which the technological developments do bring about changes in the input-output co-efficients and trade can have significant influence on the composition of production and structure of industries. Assume that the import-competing industry uses capital and natural.

Leontief paradox. Leontief's paradox in economics is that a country with a higher capital per worker has a lower capital/labor ratio in exports than in imports. This econometric find was the result of Wassily W. Leontief's attempt to test the Heckscher-Ohlin theory ('H-O theory') empirically Leontief Paradox. Authors; Authors and affiliations; Takashi Negishi; Chapter. 264 Downloads; Part of the Research Monographs in Japan-U.S. Business & Economics book series (JUSB, volume 6) Abstract. There exist two possible methods for the investigation, the inductive inference and deductive inference. The inductive inference collects empirical observations and infers the general conclusion.

Leontief Paradox Theory - theintactone

Other articles where Leontief Paradox is discussed: Wassily Leontief: also is known for the Leontief Paradox. Economists had previously held that a country's exports reflect the commodity most abundant in that country—i.e., labour or capital. However, as Leontief pointed out, though the United States has more capital than most other nations, the majority of its exports were of. Dieses Ergebnis, welches dem bis dahin unumstrittenen Heckscher-Ohlin-Theorem vollkommen widerspricht, geht als das sogenannte Leontief-Paradoxon in die Außenwirtschaftstheorie ein. Des Weiteren konnte W. Leontief auch Untersuchungen zu anderen Ländern wie dem relativ arbeitsreichen und kapitalarmen Japan erstellen und kam zu einem Ergebnis, mit einem Wert von R= 0,644, der ebenfalls als.

• Theory supports idea that free trade is beneficial. Leontief paradox • Leontiff examined US exports of capital goods • US relatively abundant in capital: expect US to be exporter of capital intensive goods and importer of labour intensive goods • Reality was that US exports were less capital intensive than its imports. Possible. An Introduction to International Economics Chapter 4: The Heckscher-Ohlin and Other Trade Theories Dominick Salvatore John Wiley & Sons, Inc. Dale R. DeBoer University Log in Upload File. Most Popular; Study; Business; Design; Data & Analytics; Explore all categories; leontief paradox theory by muhammad qasim. Home; Documents; Leontief Paradox Theory by Muhammad Qasim; prev. Penyusun : - Bagus Wardhana - Faikar - Gatot Eka Jaya - Ilham 3 PERBEDAAN KEMAMPUAN DAN SUMBER DAYA MANUSIA (SKILLS AND HUMAN CAPITAL) 2 HAMBATAN TARIF DAN NON TARIF (TARRIFF AND NON TARRIF BARRIER) Dikemukakan oleh Wassily Leontief Teori ini bertentangan dengan teori H-

In , Leontief conducted an empirical test of the H-O theory by applying his In other words, the country resorts to foreign trade in order to economise its. This result has come to be known as the Leontief Paradox. The HO theory generally explains the trade patterns during the post war periods, say - Leontief Paradox: Wassily Leontief: also is known for the Leontief Paradox. In. The Leontief paradox (1954) rests on a simple conceptual misun-. derstanding. It makes use of the intuitively appealing but nonetheless. false proposition that if the capital per man embodied in. Home > Documents > Leontief Paradox Theory by Muhammad Qasim. Leontief Paradox Theory by Muhammad Qasim. Date post: 03-Oct-2015: Category: Documents: View: 11 times: Download: 1 times: Download for free Report this document. Share this document with a friend . Description: it is very useful for MA Economics students of Punjab University of Lahore (Pakistan). Students can get help or guidance. Wassily Leontief (* 5. August 1905 in die arbeitsintensiv hergestellt werden. Dies widersprach dem Heckscher-Ohlin-Theorem, aus dem gefolgert wurde, dass die USA als kapitalreiches Land Güter mit hohem Kapitalgehalt exportieren. Dieses sogenannte Leontief-Paradoxon wurde erst in den sechziger Jahren aufgelöst. Nach Leontief ist die Leontief-Produktionsfunktion benannt. Er soll weiterhin.

Leontief Paradox. Three positions of bull-leaping sports. Leontief tested empirically this theory of international trade by using an input-output analysis. Until convincing or more conclusive evidence becomes available in support of Leontief paradox, the H-O theory must be deemed as valid new insights into the theory and practice of international trade. Leontief himself offered the explanation that the United States was indeed a labor abundant country. Its abundance stems from the high productivity of its labor force, which he estimated to be three times as effective as that of its trading partners. This line of reasoning was later developed by others, and was incorporated in

The Leontief Paradox to Heckscher-Ohlin Theory Economic

  1. The HO theory was generally accepted on the basis of casual empiricism. Moreover, there wasn't any technique to test the HO theory until the input-output analysis was invented. The Leontief Paradox The first serious attempt to test the theory was made by Professor Wassily W. Leontief in 1954. Don't waste your time! Order your assignment! order now. Result: Leontief reached a paradoxical.
  2. Shortly after Edward E. Leamer found that the Leontief Paradox was based on a simple conceptual misunderstanding in 1980, Richard A. Brecher and Ehsan U. Choudhri in their 1982 article argued that.
  3. ed by the relative abundance of factors of production in each economy. Leontief discovered that despite the USA being endowed with an abundance of capital, its exports.
  4. Leontief Paradox. Wassily W. Leontief, in the early 1950s, found that Factor Proportions Theory has some exceptions. Leontief found that the US, which has an abundance of capital, should export capital goods and import labor-intensive goods. But, what was actually happening was the exact opposite

Leontief paradox. The Leontief paradox, presented by Wassily Leontief in 1953, found that the U.S. (the most capital-abundant country in the world by any criterion) exported labor-intensive commodities and imported capital-intensive commodities, contrary to the Heckscher-Ohlin theory 1. The Leontief Paradox. In 1953 Wassily Leontief published the results. of the most famous empirical investigations in. economics, an attempt to test the consistency of. the H-O Model with the U.S. trade patterns. Leontiefs objectives were. to prove that the H-O Model was correct and. to show that the U.S. exports were capital The Leontief paradox is, however, not accepted as a fool-proof method of refuting Ohlin's theorem. Leontief's study has been criticised on the methodological ground that it was basically concerned with export industries and competitive import replacements rather than actual imports. Since, Ohlin's theorem is concerned with actual exports and imports, it is obvious that Leontief's. Leontief Paradox. In the early 1950s, Russian-born American economist Wassily W. Leontief studied the US economy closely and noted that the United States was abundant in capital and, therefore, should export more capital-intensive goods. However, his research using actual data showed the opposite: the United States was importing more capital-intensive goods. According to the factor proportions. Leontief Paradox Welcome everyone, to the class of International Business. So, in the last lecture we were discussing about the Heckscher Ohlin theory which talked about the labor and capital intensive industries basically and businesses related to that

The Leontief paradox and why it is a paradox. For purposes of analysis, we begin by introducing the Heckscher-Ohlin Theorem that argues that a country exports those commodities produced with relatively large quantities of the country's relatively abundant factor. Hence a country that has more capital per worker should export capital. The Leontief Paradox to Heckscher-Ohlin Theory | Economics. Firstly, these countries depend greatly on the technology imported from the advanced countries, as they do not themselves have an indigenous technology suited to their own factor endowments. The Leontief Paradox evoked a widespread response from academicians. Leontief reviewed Minhas's book and pointed out that only 17 out of. This result has come to be known as the Leontief Paradox. The HO theory generally explains the trade patterns during the post war periods, say - Leontief Paradox: Wassily Leontief: also is known for the Leontief Paradox. In international trade: Factor endowments: the Heckscher-Ohlin theory. Author: Teramar Gak: Country: Republic of Macedonia: Language: English (Spanish) Genre: Career. Heckscher-Ohlin theories. The Leontief Paradox simulated the HOV studies to explore new approaches in international economics. Many studies, like Trefler (1993), are of opinion that the international factor price differences were the explanations for the paradox. Fisher and Marshall (2016) made the latest test and concluded that Leontief is not right. They used price analysis by the Trefler. What is Leontief Paradox Trade Theory By Deepti Verma W. W. Leontief received a Nobel Prize in Economics 1973 and is famous for his input-output analysis. The US is widely recognised to be a capital-abundant country. Therefore, in terms of H-O theory, it is expected that the US would export capital-intensive goods and import labour-intensive ones. In 1951, Leontief conducted an empirical test.

Leontief wurde auch für das Leontief Paradox und das Composite Commodity Theorem gutgeschrieben. Das Leben von Wassily Leontief . Leontief wurde 1906 in Deutschland geboren und starb 1999 im Alter von 93 Jahren in New York. Als Wirtschaftswissenschaftler leistete er mehrere Beiträge zur Wirtschaftswissenschaft. Leontiefs Sektorforschung führte zur Entwicklung der Input-Output-Analyse, für. THE HECKSCHER-OHLIN THEOREM, THE LEONTIEF PARADOX, AND PATTERNS OF ECONOMIC GROWTH By NOBUO MINABE* The core of the Heckscher-Ohlin theorem of the nature of trade pat-terns [6] [15] is the explanation of the relation between factor en-dowments and the doctrine of comparative costs (or commodity price ratios). The theorem asserts that a country exports those comnrodities produced with. of the Leontief Paradox. This study is beneficial to the understanding of Canadian agriculture and food trade and a test of the H-O-V theorem. The paper is structured in following way: section 2 provides a brief literature review on the H-O-V theorem and the Leontief Paradox. In section 3, the Canadian Input-Output(I-O) model used in thi

One early study of the Heckscher-Ohlin theory was carried out by Wassily Leontief, a Russian-born U.S. economist. Leontief observed that the United States was relatively well-endowed with capital. According to the theory, therefore, the United States should export capital-intensive goods and import labour-intensive ones. He found that the opposite was in fact the case: U.S. exports are. Leontief's paradox in economics is that a country with a higher capital per worker has a lower capital/labor ratio in exports than in imports. contrary to H-O theory. [1] Leontief inferred from this result that the U.S. should adapt its competitive policy to match its economic realities. The United States of America (USA), commonly known as the United States or America, is a country. Chapter 7: The Leontief Paradox and Technology-based Trade Theories. Although the Heckscher-Ohlin theorem has been at the centre of standard trade theory since the middle of the 20 th century, its empirical relevance has been challenged for almost as long. In perhaps the most famous empirical study in international economics, Wassily Leontief. As we seen before, Leontief Paradox undermined the principles of Heckscher-Ohlin Model by showing a contradiction between data and theory. Apart from that, the model is depending on vulnerable and unrealistic assumptions. In reality, even if technology advances allowed a declining in costs, it seems erroneous to assume that they are zero. It is also unsatisfactory to consider that world trade. Leontief Paradox Essay. Wassily W. Leontief (1905-99) was the first scholar to empirically test the predictions of the HeckscherOhlin (H-O) theorem, one of four main results of the H-O model (credited to Eli Heckscher and Bertil Ohlin). This theorem establishes a relationship between a country's abundance of factors of production, the.

Leontief Paradox

Leontief-Paradoxon. Ergebnis einer 1953 von Leontief vorgelegten empirischen Untersuchung, wonach die Kapitalintensität der US-amerikanischen Exporte im Jahr 1947 geringer war als die Kapitalintensität der US-Importe ( ⇡ kapitalintensives Gut, ⇡ arbeitsintensives Gut). Nachdem die USA nach dem Zweiten Weltkrieg international fraglos ein. Leontief Paradox Theory (An Overview) The transition of the US economy from a wartime to a peacetime economy was not complete until the s. Note that this increased effectiveness of the American workers was not due to a higher capital-labor ratio, because we assume that countries have identical technologies and hence identical capital- labor ratios. US manufacturing firms outsource fragmented. The results of the Leontief's research were named Leontiefs paradox: the Heckscher-Ohlin theorem is not confirmed in practice, as labor abundant countries export capital-intensive products, and capital abundant countries export labor-intensive products. W. Leontief explains this paradox by division of labor into skilled and unskilled. The United States exported the goods, whose production in.

Leontief-Paradox-Theorie (Ein Überblick

Leamer used HOV theorem to resolve the Leontief paradox. The HOV theorem predicts that if a country's endowment of a factor relative to world endowment exceeds that country's share of world GDP, then we say country is abundant in that factor. Thus it defines the Heckscher Ohlin theorem in multi-country, multi-factor and multi-commodity framework and is a factor content version of the HOS. Leontief Paradox The Leontief Paradox is the finding of Wassily W. Leontief and was an attempt to test the Heckscher-Ohlin theory. The Heckscher-Ohlin Model was developed by two economists by the names of Eli Heckscher and Bertil Ohlin. The Heckscher-Ohlin Model is an economic theory that states that countries export what they can most easily and abundantly produce. This model says comparative. This theory has completely ignored the fact of unemployment. This theory has assumed that there will be no unemployment and all the labour factors are employed in production. 3. Leontief Paradox. In 1953, Wassily Leontief presented the Leontief paradox on the US being the most capital abundant country in the world. In this year, the US being a. Leontief's paradox in economics is that a country with a higher capital per worker has a lower capital/labor ratio in exports than in imports.. This econometric finding was the result of Wassily W. Leontief's attempt to test the Heckscher-Ohlin theory (H-O theory) empirically. In 1953, Leontief found that the United States—the most capital-abundant country in the world—exported.

The Leontief Paradox opposes this theory with the example of the United States, a capital abundant country. Thus, in terms of the H-O theory United States being a more capital intensive economy, should export goods produced by this capital. However, on empirical analysis by Leontief using his input-output theory, one reached a conclusion that contradicted the H-O theory. Leontief learned that. The Leontief Paradox • Empirical tests of the Heckscher-Ohlin theory. In 1954 and 1956 Leontieff run two tests of Heckscher-Ohlin-Samuelson theory In the first test (1954) he uses American data from the 1947 input-output tables with 200 industries aggregated in 50 sectors He computes direct and indirect requirements of labour and capital for the production of 1 million dollars worth of US. Until convincing or more conclusive evidence becomes available in support of Leontief paradox, the H-O theory must be deemed as valid. Empirical studies on Demand Bias. The imported technology is highly capital-intensive. They said that Japan's place in the world was somewhere between the advanced and LDCs. While factories had og destroyed, theoey survivors were highly skilled workers, who.

Leontief-Paradoxon • Definition Gabler Wirtschaftslexiko

L eontief's test of factor proportions was based on the assumption that, within each U. S. industry, the same factor proportions are used to produce exports, domestic goods, and import substitutes. However, if the Heckscher‐Ohlin theorem is valid, then, within each industry, commodities exported by the U. S. would be charac terized by a. The Leontief Paradox to Heckscher-Ohlin Theory | Economics. It might be the case, for instance, that imports require more capital to labour than exports; it is still, however, possible that imports are intensive in the third factor, say land. However, available empirical evidence is not very conclusive either way. This study showed that Canadian exports to the U. Theody attempts were made by.

Das Leontief-Paradoxon zur Heckscher-Ohlin-Theorie

Leontief-Paradoxon - Wirtschaftslexiko

Leontief Paradox Theory by Muhammad Qasim - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. it is very useful for MA Economics students of Punjab University of Lahore (Pakistan). Students can get help or guidance from this document. It is easy to access or read Das Leontief-Paradox bestand bis Anfang der 1970er Jahre und wurde auch von einer Reihe weiterer Analysen in anderen Kontexten (beispielsweise Harry P. Bowen, Edward E. Leamer & Leo Sveikauskas [1987]: Multicountry, Multifactor Test of Factor Abundance Theory in: American Economic Review 77 [Dezember], S. 791-809) bestätigt. Die Erklärung des Leontief-Paradox liegt in der einer. The Leontief paradox is based on empirical results that did not support the Heckscher-Ohlin theory. In the research behind the paradox, the United States imported more capital- intensive goods than it exported, even though the United States is viewed as being more capital abundant and less labor abundant The First Empirical Test of the HO Theory The first serious attempt to test the theory was made by Professor Wassily W. Leontief in 1953. To perform the test, Leontief used the 1947 input- output table of the US economy. 200 groups of industries were consolidated into 50 sectors, of which 38 traded their products directly on the international market

Leontief Paradox Theory (Tinjauan) - NoorderMarketing

Leontief Paradox Theory (An Overview) - Economics Discussion W.P. Travis explains the Leontief paradox with the help of U.S. trade policy. He refers to the fact that U.S. trade is highly protected, a fact even more true when Leontief made his study than it is today. When Leontief made his study, most competitive imports considered of crude oil, paper pulp, primary copper and lead, and metallic. Leontief paradox. Labor may be divided into to two or more groups: Trade theory is supposed to predict the patterns of output trade. Therefore, one would expected the United States to export capital intensive goods leontef import labour intensive goods

Leontief-Paradoxon - das Wirtschaftslexikon

Theoretical Position of Leontief and his Paradox In summary, Leontief's research and his paradox not only triggered the extensive empirical tests of factor endowment theory but more importantly, induced more and more economists to do a lot of valuable research in depth in order to give the answer to such riddle. In this process, they gave different explanations to the new discovery of. Leontief Paradox Theory (An Overview) This would reverse the LP. This argument tends to support Leontief paradox. It has provided a good deal of insight into yheory foreign trade position of the U. Views Read Edit View history. Continuing with the last argument, we can also bring in the fact that US agriculture is a highly land- and capital-intensive activity. Leontief Paradox Theory (An. Leontief's paradox in economics is that the country with the world's highest capital-per worker has a lower capital:labour ratio in exports than in imports. This econometric find was the result of Professor Wassily W. Leontief's attempt to test the Heckscher-Ohlin theory empirically. In 1954, Leontief found that the U.S. (the most capital-abundant country in th

AquiLEONTIEF INPUT OUTPUT MODEL || MATHEMATICAL ECONOMICSPPT - La Matriz de Leontief PowerPoint Presentation, freePPT - International Trade Theory PowerPoint Presentation

What is Leontief Paradox Trade Theory. That perhaps reduced the labour-intensity of U. Similarly, a labour-abundant country may export capital-intensive goods, if the income elasticity of demand for such goods is high in that country. Romney Robinson explained Leontief paradox without repudiating the Lfontief theory on the basis of relative patterns of demand existing in the United States and. The Leontief Paradox. One of the most famous tests of any economic or business theory occurred in 1960, when economist Wisely Leontief tested whether the factor proportions theory could be used to explain the types of goods the United States imported and exported The Leontief paradox disappeared by 1972, when we consider care about, and that the theory is really trying to address. Through a fair amount of specification of alternative models with direct estimation of factor endowments (with 9 factors), he suggests a model allowing for Armington home bias [a general preference to consume domestic goods, when country-of-origin can be traced among.

  • Sky kicktipp.
  • Fleischereifachverkäuferin Stundenlohn.
  • Hyperledger Fabric explained.
  • CoinGecko Wallet.
  • Bitcoin to MTN Mobile Money.
  • Meistverkaufte Produkte Online.
  • Fidelity Bank financial statement 2020.
  • Kursprognose VeChain.
  • GTX 1070 ti mhs Ethereum.
  • VanEck Vectors Retail ETF.
  • Ethereum Mining Zukunft.
  • ETF HAN.
  • Blockchain TPS ranking.
  • RoboMarkets ETF.
  • Ruud Feltkamp opleiding.
  • IKEA villavagn.
  • Epic Rap Battles of History Wiki.
  • How many whole coiner.
  • Black Chip Poker android app.
  • ATM operator Job Description.
  • Freimenge Alkohol nach Norwegen.
  • Allianz News.
  • DV 2020 submission confirmation.
  • Virbo naturreservat.
  • Bönhus till salu.
  • Zeichentabelle Mac Catalina.
  • Flare testnet.
  • OUSA policy papers.
  • Turkish Airlines.
  • Steam Bundle als Geschenk kaufen.
  • BTX Cuvettes.
  • MT4 webtrader.
  • Hardline band.
  • Tvåfaktorsinloggning Avanza.
  • Mango Sale Kinder.
  • Avanza fondrobot avkastning.
  • Osram News Stellenabbau.
  • Sovryn liquidity.
  • Verkaufshafen Roermond.
  • Blumenzwiebeln übersommern.
  • ADA staking Coinbase.