Found 28 article(s) for author 'Currency'

Redeemable Platform Currencies

Redeemable Platform Currencies. Kenneth Rogoff, October 30, 2019, Paper, “Can massive online retailers such as Amazon and Alibaba issue digital tokens that potentially compete with bank debit accounts? We explore whether a large platform’s ability to guarantee value and liquidity by issuing prototype digital tokens for in-platform purchases constitutes a significant advantage that could potentially be leveraged into wider use. Our central finding is that unless introducing tradability creates a significant convenience yield, platforms can potentially earn higher revenues by making tokens non-tradable. The analysis suggests that if platforms have any comparative advantage in issuing tradable tokens, it comes from other factors.Link

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The Currency Manipulation Game

The Currency Manipulation Game. Jeffrey Frankel, August 9, 2019, Opinion, “The United States government’s assertion that the recent depreciation of the renminbi amounts to currency manipulation is not true. It would be more correct to say that the Chinese authorities gave in to market pressure – the immediate source of which was US President Donald Trump’s announcement of new tariffs on Chinese goods.Link

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Harriett Tubman On The $20 Bill

Harriett Tubman On The $20 Bill. Nancy Koehn, June 6, 2019, Audio, “On May 22. Treasury Secretary Steve Mnuchin announced that the $20 bill redesign set to replace President Andrew Jackson with Harriett Tubman would not be pursued during the Trump administration. Harvard Business School historian Nancy Koehn joined Boston Public Radio on Thursday to discuss why the change, initiated by the Obama administration, was delayed.Link

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The Euro’s First 20 Years

The Euro’s First 20 Years. Jeffrey Frankel, January 25, 2019, Opinion, “According to public opinion polls, 20 years after its introduction, the euro is highly popular, with 64% of eurozone citizens supporting the common currency. This offers hope that, if the eurozone’s leaders can learn from past mistakes, the monetary union will survive and even thrive in the future.Link

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The Hidden Costs of Initial Coin Offerings

The Hidden Costs of Initial Coin Offerings. Jeffrey Bussgang, Ramana Nanda, November 7, 2018, Paper, “In recent years, much has been written about how the Blockchain is poised to transform traditional industries such as banking, real estate, and healthcare. More recently, it has gained attention as a way to finance new ventures, through what is known as an Initial Coin Offering (ICO). Less noticed, though, is ICOs appear almost antithetical to the standard approach to financing a risky venture.Link

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A decade from now, bitcoin is more likely to be $100 than $100,000

A decade from now, bitcoin is more likely to be $100 than $100,000. Kenneth Rogoff, March 5, 2018, Video, “The likelihood of bitcoin prices falling to $100 is greater than that of the digital currency trading at $100,000 a decade from now, Harvard University professor and economist Kenneth Rogoff said on Tuesday. “I think bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now … I would see $100 as being a lot more likely than $100,000 ten years from now,” Rogoff told CNBC’s “Squawk Box.”“” Link

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Why Treasury secretaries should stick with the strong dollar mantra

Why Treasury secretaries should stick with the strong dollar mantra. Lawrence Summers, January 25, 2018, Opinion, “Yesterday in Davos, Secretary Steven Mnuchin left the impression that he might be reversing 25 years of US Treasury strong dollar policy by asserting that, “obviously a weaker dollar is good for us as it relates to trade and opportunities”.  The dollar then had its biggest one-day decline in nearly a year and bond yields rose.Link

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What lurks beneath the Euro

What lurks beneath the Euro. Carmen Reinhart, November 16, 2017, Opinion, “Earlier this year, the consensus among economists was that the United States would outstrip its advanced-economy rivals. The expected spurt in U.S. growth would be driven by the economic stimulus package described in President Donald Trump’s election campaign. But instead, the most notable positive economic news from the developed countries in 2017 has been coming from Europe.Link

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