Search:

World Economics

 Back to Previous Page
Title: iCurrency?
Author: Zura Kakushadze & Willie Yu
Published: December 2019
Pages: 151-176
   Download Paper
We discuss the idea of a purely algorithmic universal world iCurrency in light of recent developments, including Libra. We analyze the Libra proposal, including the stability and volatility aspects, and discuss various issues to be addressed. For example, one cannot expect a cryptocurrency such as Libra to trade in a narrow band without a robust monetary policy. A technical appendix (available online) provides a detailed mathematical description of the (crypto) FX rate dynamics in target zones.


Download Paper in PDF format