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Cooperation, competition, or conflict? A review of the multiple international sides of money

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  • Chiara Alvisi

    (Department of Law and Economics, Sapienza University of Rome)

Abstract

Is money more likely to be a means of cooperation, competition, or conflict? The following thoughts discuss the main strands of literature investigating the dynamic role of money in a fast-changing financial world, thus trying to trace out the main social, economic and geopolitical implications of the evolution of the international monetary system toward the adoption of competing currencies. This study combines behavioral, monetary economic, and geoeconomics perspectives to introduce a methodological innovation to the traditional analysis of the role of money, providing a holistic view of ongoing monetary phenomena suited to interpret the increasing complexity of financial landscape and the new challenges of monetary policy in an environment of geopolitical tensions.

Suggested Citation

  • Chiara Alvisi, 2025. "Cooperation, competition, or conflict? A review of the multiple international sides of money," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 9(2), pages 23-28, December.
    • Handle: RePEc:beh:jbepv1:v:9:y:2025:i:2:p:23-28
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    References listed on IDEAS

    as
    1. Florens C. Pfann & Gerard A. Pfann, 2024. "Is Trust a Driver of Patience? A Cross - Country Analysis," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 8(S2), pages 9-18, December.
    2. Pierpaolo Benigno, 2023. "Monetary Policy in a World of Cryptocurrencies," Journal of the European Economic Association, European Economic Association, vol. 21(4), pages 1363-1396.
    3. Emmanuel Farhi & Matteo Maggiori, 2018. "A Model of the International Monetary System," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 133(1), pages 295-355.
    4. Matteo Maggiori & Brent Neiman & Jesse Schreger, 2019. "The Rise of the Dollar and Fall of the Euro as International Currencies," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 521-526, May.
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    6. Giuseppe Gurrado & Donato Masciandaro, 2025. "Stablecoins vs CBDCs: the Digital Money Race in the Scientific and Social Networks," BAFFI CAREFIN Working Papers 25254, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    7. Bahaj, Saleem & Reis, Ricardo, 2024. "The anatomy of a peg: lessons from China's parallel currencies," CEPR Discussion Papers 18749, Centre for Economic Policy Research.
    8. Samuele Ridolfi, 2024. "Behavioral Macroeconomics: A Systematic Review for Policy Insights," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 8(S2), pages 35-42, December.
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