Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/283502 
Year of Publication: 
2023
Series/Report no.: 
Discussion Papers No. 23-13
Publisher: 
University of Bern, Department of Economics, Bern
Abstract: 
This paper provides insights into the historical inefficiencies and instabilities of the international monetary system. These inefficiencies are primarily linked to the limited supply of international liquidity and wedges in various money-market rates. The instabilities encompass both macroeconomic and financial aspects, particularly focusing on the challenges of stabilizing inflation and economic activity. Innovations stemming from the competition of cryptocurrencies and the associated blockchain technology hold the potential for improving these outcomes.
Creative Commons License: 
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Document Type: 
Working Paper

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