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The curse of cash
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| Format: | Book |
| Language: | English |
| Published: |
Princeton
Princeton University Press
2016
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| Subjects: |
Table of Contents:
- Introduction and overview
- The early development of coins and paper currency
- Size and composition of global currency supplies, and the share held abroad
- Holdings of currency in domestic legal, tax-paying economy
- Currency demand in the underground economy
- Seigniorage
- A plan for phasing out most paper currency
- The cost of the zero bound constraint
- Higher inflation targets, nominal GDP, escape clauses and fiscal policy
- Other paths to negative interest rates
- Other possible downsides to negative nominal policy rates
- Negative interest rates as a violation of trust and a step away from rule-based systems
- International dimensions to phasing out paper currency
- Digital currencies and gold
- Conclusions.