Public and Private Money Can Coexist in the Digital Age

By Tobias Adrian and Tommaso Mancini-Griffoli We value innovation and diversity—including in money. In the same day, we might pay by swiping a card, waving a phone, or clicking a mouse. Or we might hand over notes and coins, though in many countries increasingly less often. Today’s world is characterized by a dual monetary system, […]

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Guest Contribution: “What the GameStop Bubble Says about Financial Markets”

Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy  School of Government, and formerly a member of the White House Council of Economic Advisers. A shorter version appeared at Project Syndicate. Whether one thinks that the overall equity market is currently valued properly or not, something very unusual happened in the […]

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Flash-mob finance

Modern communication infrastructure can facilitate swift simultaneous action by a large number of people. If used to coordinate a surprise attack, an organized mob can overcome a store or even the capitol building. Is Wall Street the next target? GameStop is a brick-and-mortar retail chain that was losing money even before the pandemic. Yet the […]

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Guest Contribution: “The Impact of COVID-19 on Emerging Financial Markets”

Today, we are pleased to present a guest contribution by Steven Kamin (AEI), formerly Director of the Division of International Finance at the Federal Reserve Board. The views presented represent those of the authors, and not necessarily those of the institutions the authors are affiliated with. The eruption of the Covid-19 pandemic early last year […]

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