This essay surveys the new monetarist approach to liquidity. Work in this literature strives for
empirical and policy relevance, plus rigorous foundations. Questions include: What is …

Given the renewed interest in negative interest rates on base money—or equivalently 'taxing
money'—as a means for overcoming the zero bound on short-term nominal interest rates …

In a recent article, Yermack (2015) argues that bitcoin is not money because it functions
poorly as a medium of exchange, unit of account, and store of value. We offer a more …

Despite its increasing popularity, no official guidance on the financial reporting of Bitcoin
transactions has been provided by standard setters, although tax accounting guidance …

At present, bitcoin is held mostly as a speculative vehicle, little used to pay for goods and
services. Its value has been unstable, which impedes bitcoin's wider use as a payment …

The quest of this work is to present discussions of some fundamental questions of
economics in the era of quantum technology, which require a treatment different from …

This paper shows that modern monetary theory can be better understood through the
differences between Menger and Walras. Since the 1980s, attempts to establish coherent …

The challenge of rendering monetary exchange intelligible within a Walrasian general
equilibrium framework is well known. Perhaps less well known is the difficulty of integrating …

This article investigates the meeting of two monetized economies and how producing a
“commodity money” nurtured forms of violence. This case presents an opportunity to rethink …

Models of the exchange process based on search theory can be used to analyze the
features of objects that make them more or less likely to emerge as money in equilibrium …