Review Cryptocurrencies, Currency Competition, and the Impossible Trinity

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Cryptocurrencies, Currency Competition, and the Impossible Trinity High quality books

Cryptocurrencies, Currency Competition, and the Impossible Trinity
By:Pierpaolo Benigno,Linda Marlene Schilling,Harald Uhlig
Published on 2019 by

We analyze a two-country economy with complete markets, featuring two national currencies as well as a global (crypto)currency. If the global currency is used in both countries, the national nominal interest rates must be equal and the exchange rate between the national currencies is a risk- adjusted martingale. We call this result Crypto-Enforced Monetary Policy Synchronization (CEMPS). Deviating from interest equality risks approaching the zero lower bound or the abandonment of the national currency. If the global currency is backed by interest-bearing assets, additional and tight restrictions on monetary policy arise. Thus, the classic Impossible Trinity becomes even less reconcilable.

This Book was ranked at 29 by Google Books for keyword Currency.

Book ID of Cryptocurrencies, Currency Competition, and the Impossible Trinity's Books is AIRFygEACAAJ, Book which was written byPierpaolo Benigno,Linda Marlene Schilling,Harald Uhlighave ETAG "gXHHpWHM0Ks"

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Book which have "32 Pages" is Printed at BOOK under CategoryCryptocurrencies

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