Non-Uniform Currencies and Exchange Rate Chaos: a presentation at the CoinDesk, Consensus 2018, New York, N.Y

James Bullard

No 307, Speech from Federal Reserve Bank of St. Louis

Abstract: Speaking in New York, St. Louis Fed President James Bullard discussed how the current cryptocurrency wave may be driving the U.S. uniform currency system toward something more like the global non-uniform currency system, which is characterized by volatile exchange rates. He noted that societies have disliked non-uniform currency systems because the currencies trade at different values. ?Cryptocurrencies may unwittingly be pushing in the wrong direction in trying to solve an important social problem, which is how best to facilitate market-based exchange,? Bullard said.

Pages: 33 pages
Date: 2018-05-14
New Economics Papers: this item is included in nep-pay
Note: Similar remarks were delivered at Alternative Money University, Cato Institute, Washington, D.C., July 15, 2018, and at The Canon Institute for Global Studies, Conference on Macroeconomic Theory and Policy 2018, Tokyo, Japan, June 4, 2018.
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.stlouisfed.org/~/media/files/pdfs/bull ... york_14_may_2018.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlps:307

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Speech from Federal Reserve Bank of St. Louis Contact information at EDIRC.
Bibliographic data for series maintained by Scott St. Louis ().