The new currency war: The US-China digital rivalry as a test of monetary discipline
Digital currencies pegged to fiat money face a built-in tension between credibility and competition, creating a ‘stablecoin paradox’. This column analyses the competing frameworks of
The macroeconomic effects of introducing a central bank digital currency
Central bank digital currencies are gaining traction as a potential innovation in central banking, with numerous countries considering their implementation. However, given the limited real-world
