experiment: In September 2021, El Salvador became the first country in the world to make bitcoin legal tender, and all economic …

We show that "commodity currency" exchange rates have remarkably robust power in predicting global commodity prices …

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 …

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 …

The introduction of a central bank digital currency (CBDC) allows the central bank to engage in large …

We consider how a central bank digital currency (CBDC) could transform all aspects of the monetary system and …

central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency …