Unser Geldsystem ist im Umbruch. Gerade erst hat ein von Facebook gegründetes privates Konsortium den Entwurf einer privaten Weltwährung vorgestellt. Auch China testet zur Zeit eine digitale staatliche Währung, vermutlich mit dem Ziel die Vormachtstellung des amerikanischen Dollars zu...

Over millennia, mankind has used hard cash in various forms ranging from shells to gold coins and paper. More recently, cash has become unpopular in political circles, as it effectively restricts states’ power to tax (explicitly or via negative interest rates) or to survey and potentially...

We consider a median voter model with uncertainty about how the economy functions. The distribution of income is exogenously given and the provision of a public good is financed through a proportional tax. Voters and politicians do not know the true production function for the public good, but...