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After introducing digital currency, the central bank emerges as a monopolist bank. It then faces an "impossible trinity". To achieve price stability and financial stability, optimal consumption allocation is sacrificed. In this paper, I show that fiscal policy designed in coordination with the...
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currency could be implemented as central bank digital currency (CBDC), or it could be issued by the government and …
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elemental forces will continue to play out--in our wallets, on the blockchain, and throughout major economies--in the decades to …
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