Decentralized Finance (DEFI) is changing the financial landscape. What are the consequences on market infrastructures, financial actors, the transmission of monetary policy? Does the concept of "Commons" introduced by Elinor Ostrom, winner of the 2009 Nobel Prize in Economics, offer a relevant...

Recent events have created new doubts about the dollar’s prospects for remaining the leading international reserve currency. The crisis has not exactly enhanced the attractions of the United States as a producer of high quality financial assets. Yet incumbency is a strong advantage in...