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Our most academic publication offers research and surveys on monetary policy, national and international developments, banking, and more. The content is written for an economically informed readership—from the undergraduate student to the PhD.

Early Edition 2018

Posted 2018-02-13

Monetary Policy:

Allan Meltzer and the Search for a Nominal Anchor

by James Bullard

The author examines Allan Meltzer's career in terms of the search of a nominal anchor for the U.S.

Posted 2018-02-13

Cryptocurrencies and Blockchain:

The Case for Central Bank Electronic Money and the Non-case for Central Bank Cryptocurrencies

by Aleksander Berentsen and Fabian Schar

We characterize various currencies according to their control structure, focusing on cryptocurrencies such as Bitcoin and government-issued fiat money. 

Posted 2018-02-13

Cryptocurrencies and Blockchain:

Is Bitcoin a Waste of Resources?

by Stephen Williamson

Do Bitcoin and other cryptocurrencies play a useful social role, or do they represent a social waste? Bitcoin is a decentralized recordkeeping system, with updating of the record of transactions in the blockchain.

Posted 2018-02-13

Cryptocurrencies and Blockchain:

Blockchain: What It Is, What It Does, and Why You Probably Don’t Need One

by David Andolfatto

All record-keeping systems (which include monetary systems) must contend with trust issues and methods of organizing historical information. Conventional systems rely on the reputation of central authorities and record-keepers to achieve consensus.

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