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Should Central Banks Worry About Facebook's Diem And Alibaba's Alipay?

From the Richmond Fed this post authored by Jonathan Chiu, Tim Sablik and Russell Wong ....

United States , Massachusetts Institute Of Technology , Zhu Wang , Jerome Powell , Alibaba Alipay , Jonathan Chiu , Andreas Wehrli , Jeff Cox , Russell Wong , Tim Sablik , Jessie Romero , Tencent Wechat , Ryan Browne , Ingrid Lunden , Federal Reserve Bank , Central Bank Digital Currency , Us Senate Banking , Us Commerce Department , International Settlements , Research Department , International Settlements Papers No , Massachusetts Institute Of Technology Digital Currency Initiative , Payments Department , Affairs Committee , Urban Affairs , Platform Issue Digital ,

Should central banks worry about facebook's Diem and Alibaba's Alipay?

Alibaba an e-commerce platform in China similar to Amazon has created its own payment system (Alipay) to provide currency-like services: facilitating transactions, supporting peer-to-peer transfers and paying interest. ....

United States , Massachusetts Institute Of Technology , Zhu Wang , Jerome Powell , Alibaba Alipay , Jonathan Chiu , Jeff Cox , Andreas Wehrli , Tim Sablik , Russell Wong , Tencent Wechat , Jessie Romero , Ryan Browne , Ingrid Lunden , Central Bank Digital Currency , Us Senate Banking , Federal Reserve Bank , Us Commerce Department , International Settlements , Research Department , International Settlements Papers No , Massachusetts Institute Of Technology Digital Currency Initiative , Payments Department , Affairs Committee , Urban Affairs Committee , Platform Issue Digital ,

MMT And Government Finance: You Can't Always Get What You Want

this post authored by Michael U. Krause, Thomas A. Lubik, and Karl Rhodes
During the past 25 years, low-interest rates and highly expansionary monetary policy with little apparent inflation have created the illusion that a government can simply print money to fund exorbitant deficit spending with no repercussions. This core tenet of so-called modern monetary theory ignores the fact that deficit spending is constrained in the long run by a government s ability to satisfy creditors.
Promoters of modern monetary theory (MMT) - including a growing number of pundits and policymakers - are toying with the idea that deficits don t matter. They are tempted to believe that a government can merge fiscal and monetary policy and simply print currency to pay for its expenditures indefinitely without economic costs or constraints. This core tenet of MMT, which has permeated the public debate, worries economists of all stripes - not just mainstream economists, but also traditiona ....

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High Labor Market Churn During The 2020 Recession

High Labor Market Churn During The 2020 Recession
econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.

United States , University Of Chicago , Thomasa Lubik , Hannes Schwandt , Rosemary Coskrey , Alex Wolman , R Jason Faberman , Lisab Kahn , Jessie Romero , Andreas Hornstein , Claudia Macaluso , Stevenj Davis , Murat Tasci , Johnc Haltiwanger , Federal Reserve Bank , University Of Maryland , Current Population Survey , Research Department Of The Federal Reserve Bank , University Of Rochester , University Of Texas , University Of Minnesota , Economic Brief , Great Recession , Flow Approach , Population Survey , Chicago Fed ,