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From Commodity to Fiat and Now to Crypto: What Does History Tell Us?

In: DIGITAL CURRENCY ECONOMICS AND POLICY

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Abstract

The following sections are included:IntroductionBefore digitalCentral bank digital currencyConclusionReferences

Suggested Citation

  • Barry Eichengreen, 2020. "From Commodity to Fiat and Now to Crypto: What Does History Tell Us?," World Scientific Book Chapters, in: Bernard Yeung (ed.), DIGITAL CURRENCY ECONOMICS AND POLICY, chapter 4, pages 17-39, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811223785_0004
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    1. Quinn, Stephen, 1997. "Goldsmith-Banking: Mutual Acceptance and Interbanker Clearing in Restoration London," Explorations in Economic History, Elsevier, vol. 34(4), pages 411-432, October.
    2. Philip T. Hoffman, 2015. "Why Did Europe Conquer the World?," Economics Books, Princeton University Press, edition 1, number 10452.
    3. Peirce, Hester, 2016. "Derivatives Clearinghouses: Clearing the Way to Failure," Working Papers 03221, George Mason University, Mercatus Center.
    4. Ruchir Agarwal & Miles Kimball, 2015. "Breaking Through the Zero Lower Bound," IMF Working Papers 2015/224, International Monetary Fund.
    5. Kenneth S. Rogoff, 2016. "The Curse of Cash," Economics Books, Princeton University Press, edition 1, number 10798.
    6. John F. Walker & Harold G. Vatter, 1982. "The Princess and the Pea; or, the Alleged Vietnam War Origins of the Current Inflation," Journal of Economic Issues, Taylor & Francis Journals, vol. 16(2), pages 597-608, June.
    7. Michael D. Bordo & Andrew T. Levin, 2017. "Central Bank Digital Currency and the Future of Monetary Policy," NBER Working Papers 23711, National Bureau of Economic Research, Inc.
    8. Jack Meaning & Ben Dyson & James Barker & Emily Clayton, 2018. "Broadening narrow money: monetary policy with a central bank digital currency," Bank of England working papers 724, Bank of England.
    9. Amber Wadsworth, 2018. "The pros and cons of issuing a central bank digital currency," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 81, pages 1-21, June.
    10. Glasner,David, 2005. "Free Banking and Monetary Reform," Cambridge Books, Cambridge University Press, number 9780521022514, Enero-Abr.
    11. Grégory Claeys & Maria Demertzis & Konstantinos Efstathiou, 2018. "Cryptocurrencies and monetary policy," Bruegel Policy Contributions 26557, Bruegel.
    12. Boughton, James M & Wicker, Elmus R, 1979. "The Behavior of the Currency-Deposit Ratio during the Great Depression," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(4), pages 405-418, November.
    13. Margaret M. Jacobson & Eric M. Leeper & Bruce Preston, 2019. "Recovery of 1933," NBER Working Papers 25629, National Bureau of Economic Research, Inc.
    14. Sean Foley & Jonathan R Karlsen & Tālis J Putniņš, 2019. "Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed through Cryptocurrencies?," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1798-1853.
    15. George Selgin, 2008. "Milton Friedman and the Case against Currency Monopoly," Cato Journal, Cato Journal, Cato Institute, vol. 28(2), pages 287-301, Winter.
    16. Admati, Anat R. & Hellwig, Martin F., 2013. "Does Debt Discipline Bankers? An Academic Myth about Bank Indebtedness," Research Papers 3031, Stanford University, Graduate School of Business.
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    More about this item

    Keywords

    Digital Currency; Economics and Policy; Finance; Cryptocurrency;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G2 - Financial Economics - - Financial Institutions and Services

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