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You are invited to a CEPR / LSE IGA / SPP webinar on:
 
Digital Currencies and Stable Coins as Crisis Management Tools

Join us on Thursday 11 June 2020
14:00-15:30 (BST, London), 15:00 - 16:30 (CST)
 

Payment systems and money are evolving rapidly. Developments in information technology, digital networks and the increase in internet-based retailing have created the demand and technological space for digital transactions that have the potential to radically change payment and financial intermediation systems. Will Covid-19 accelerate these changes? How radical or similar could this new landscape be? What kinds of design choices and/or regulatory response might make the difference? How might Central Banks support and adapt?

Join Benoît Cœuré, Piroska Nagy-Mohacsi, Christina Segal-Knowles, Ricardo Reis and Erik Berglof in this webinar discussion.

Register on zoom: https://us02web.zoom.us/webinar/register/9415913579876/WN_IGYx8WA2TiywWiBWSkmvaw

Richard K Lyons, Ganesh Viswanath-Natraj, 17 April 2020

Does stable coin issuance have an inflationary effect on cryptocurrency prices such as Bitcoin? This column argues that aggregate stable coin issuance does not drive crypto prices, in contrast to claims from previous studies. Instead, it claims that issuance behaviour can be explained as maintaining a decentralised system of exchange rate pegs and acting as a safe haven in the digital asset economy. The latter can be demonstrated by the significant stable coin premiums during the COVID-19 panic of March 2020.

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