Author: Pierpaolo Benigno

Publicaton Cryptocurrencies, Currency Competition and the Impossible Trinity | Blockchain@X
Publications

Cryptocurrencies, Currency Competition and the impossible Trinity

We analyze a two-country economy with complete markets, featuring two national currencies as well as a global (crypto)currency. If the global currency is used in both countries, the national nominal interest rates must be equal and the exchange rate between the national currencies is a risk-adjusted martingale. We call the…

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