Can Bitcoin become money? The monetary rule problem

【Author】 Cachanosky, Nicolas

【Source】AUSTRALIAN ECONOMIC PAPERS

【影响因子】1.452

【Abstract】The growing literature on Bitcoin can be divided into two groups. One performs an economic analysis of Bitcoin focusing on its monetary characteristics. The other one takes a financial look at the price of Bitcoin. Interestingly, both of these groups have not given much more than passing comments to the problem of whether or not Bitcoin has the right monetary rule in order to become a well-established currency. This paper argues that Bitcoin in particular, and cryptocurrencies in general, do not have a good monetary rule and that this shortcoming seriously limits its prospect of becoming widely used money.

【Keywords】Bitcoin; monetary rules; nominal income targeting

【发表时间】2019 DEC

【收录时间】2022-01-02

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