E-viri
Recenzirano
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Uhlig, Harald
Atlantic economic journal, 03/2024, Letnik: 52, Številka: 1Journal Article
I discuss private and central-bank-issued digital currencies, summarizing my prior research. I argue that prices of private digital currencies such as bitcoin follow random walks or, more generally, risk-adjusted martingales. For central bank digital currencies, I argue that they enhance the trilemma facing a central bank. Of the three objectives, price stability, efficiency, and monetary trust, the central bak can achieve at most two.
