Digital Currencies and Cryptocurrencies (IEF)

This course will consider the new phenomenon of digital currencies from a monetary and financial stability angle. We will first look at the technological foundations of cryptocurrencies, and then we will discuss challenges related to the issuance of central bank digital currencies and stablecoins. We will study central bank digital currencies that are in advanced stages and we will learn about their potential impact. We will discuss private efforts to issue stablecoins (e.g. LIBRA) and discuss why they raise concerns of regulators.

Pre-requisites:

One introductory-level economics course

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