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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
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Fractional reserve regimes generate fragile banking, and full reserve regimes (e.g., narrow banking) remove fragility at the cost of suppressing the role of banks as lenders. A Central Bank Digital Currency (CBDC) could provide safe money, but at the cost of potentially disrupting bank lending....
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