The Fed’s Anti-Inflationary Monetary Policy: Archaic, Ruinous, and Unfair
According to BNC contributor Svit Svitlo, the current anti-inflationary, hawkish monetary policy adopted by the US Federal Reserve is not only archaic but also economically ruinous and socially unfair. Here, he explains why.
How does crypto influence monetary policy?
Cryptocurrency has the potential to improve citizen welfare and encourage local investment, according to a new academic report.
Crypto-currencies An introduction to not-so-funny moneys
This paper introduces the distributed ledger technology of crypto-currencies and aims to increase public understanding of these technologies, highlight some of the risks involved in using cryptocurrencies, and discuss some of the potential implications of these technologies for consumers, financial systems, monetary policy and financial regulation.
Central banks and digital currencies
Central banks and digital currencies: Speech given by Ben Broadbent, Deputy Governor for Monetary Policy, Bank of England at the London School of Economics on Wednesday 2 March 2016.
Virtual currencies: passion,prospects and challenges
The purpose of this Working Paper is to provide a snapshot on virtual currencies. It focuses on convertible, decentralised virtual currencies. Taking Bitcoin as proxy, it reviews its short history and early use cases as means of payment and speculative asset, finding these customer requirements supported by an ever increasing range of service providers, many of which attract venture capital with great ease. Whilst the actual economic footprint of virtual currencies remains very limited, there is a flurry of debates as to the impact a wider adoption could have notably on the economy and on monetary policy, as well as to whether the underlying technology â in essence a distributed, global ledger not requiring the intervention of a trusted third party - couldnât be leveraged more significantly to record transfers of assets other than money.
The Bitcoin Question: Currency versus Trust-less Transfer Technologyâ,OECD Working Papers on Finance,Insurance and Private Pensions,No. 37,OECD Publishing.
The financial crisis has led to a widespread loss of trust in financial intermediaries of all kinds, perhaps helping to open the way towards the general acceptance of alternative technologies. This paper briefly summarises the cryptocurrency phenomenon, separating the âcurrencyâ issues from the potential technology benefits. With respect to crypto currencies, the paper argues that these canât undermine the ability of central banks to conduct monetary policy.
