C-day and military money joni April 09, 2017 Add Comment cash, coins, demonetization, dollarization/euroization, scrip Edit Did Indian PM Narendra Modi get the idea for the recently-executed demonetization by watching old episodes of M*A*S*H, a 1970s hit TV show ... Read More
Bringing back the Somali shilling joni Maret 26, 2017 Add Comment coins, dollarization/euroization, fiat money, hysteresis Edit Somalia has long played host to one of the world's strangest monetary phenomenon, a paper currency without a central bank. I explored th... Read More
Italian exit and the problem of lira shortages joni Januari 30, 2017 Add Comment Bank of Italy, demonetization, dollarization/euroization, Gresham's Law, Reserve Bank of India Edit The topic of euro breakup has slowly been trickling back in the news, especially with the potential for Italy leaving the currency union, a... Read More
A 21st century U.S. trade dollar joni Desember 02, 2016 Add Comment bimetallism, coins, dollarization/euroization, Federal Reserve, Ken Rogoff, legal tender Edit "America's only unwanted, unhonoured coin." - John Willem on the silver trade dollar. The inspiration for this post comes fro... Read More
Don't kill the $100 bill joni Februari 25, 2016 Add Comment cash, David Beckworth, demonetization, dollarization/euroization, large value note embargo, Larry Summers, Larry White, medium of account, Miles Kimball, zero lower bound Edit Last week I asked whether the Federal Reserve could get rid of the $100 bill. This week let's discuss whether it should get rid of the ... Read More
Euros without the Eurozone joni Juni 29, 2015 Add Comment dollarization/euroization, ECB, lender of last resort, Nick Rowe, seigniorage, Target2, unit of account Edit This 2 euro coin is issued by Monaco, which is not a member of the Eurozone Grexit isn't what people take it to be. The standard narrati... Read More
The dollarization of bitcoin joni Juni 12, 2015 Add Comment Bitcoin, dollarization/euroization, fintech, medium of exchange Edit Bitcoin was supposed to result in the bitcoinization of the world; instead, I'd argue that the world of bitcoin is being dollarized. A s... Read More
Grexit: An Escape to More of the Same joni Januari 24, 2015 Add Comment Bank of Greece, dollarization/euroization, drachma, ECB, Hans-Werner Sinn, hysteresis, medium of exchange, store of value, unit of account Edit The upcoming Greek election has renewed interest in the idea of Grexit. This option is often presented to the Greek public as desirable give... Read More