A bona fide currency functions as a medium of exchange, a store of value, and a unit of account, but bitcoin largely … investment than a currency …

quality” to the international currency. However, in the Euro crisis, that of the Sterling pound became equally low, while the … deviations across the European currencies in the two crises. Currency-specific money market risk was critical in explaining the …

More than half of U.S. currency circulates abroad. As a result, much of the seignorage income of the United States is … foreign demand for its currency. In the absence of such demand, the model implies that the Friedman rule--deflation at the … foreign demand for domestic currency is taken into account, the Friedman rule ceases to be Ramsey optimal. Calibrated versions …

to be invoiced in the importer's currency. We offer a potential theoretical explanation for the empirical link between …

Over time, there has been a tendency for political jurisdictions and residents to converge on a single currency … uniform currency, insofar as it is free of counterparty and liquidity risk, facilitates economic activity. But will digital … maintain their stability is doubtful. The one unit that can clearly meet these challenges is central bank digital currency. But …

establishment of currency unions, the monetizing of recently acquired colonies, preferential trade arrangements, and customs unions …

A central assumption of open economy macro models with nominal rigidities relates to the currency in which goods are … priced, whether there is so-called producer currency pricing or local currency pricing. This has important implications for … exchange rate pass-through and optimal exchange rate policy. We show, using novel transaction level information on currency and …

We develop a novel, risk-based theory of the effects of currency manipulation. In our model, the choice of exchange … rate regime allows policymakers to make their currency, and by extension, the firms in their country, a safer investment … for international investors. Policies that induce a country's currency to appreciate when the marginal utility of inter …