Wilko Bolt, Maarten R C van Oordt, 14 May 2019

What drives the volatility of Bitcoin? This column explains a theoretical framework to link exchange rates to currency creation, speculative behaviour, and real growth in goods and services transactions. It suggests that the exchange rate will be less sensitive to speculators' beliefs when a virtual currency becomes more established as a means of payment. 

Thorvaldur Gylfason, Helgi Tomasson, Gylfi Zoega, 24 March 2016

There is a lot in a name. This column looks at the ideas that are wrongly attributed to Irving Fisher and David Ricardo. Incorrect attribution can be more dangerous than it seems, and the prestigious names of Ricardo and Fisher have been used to justify inattentive fiscal and monetary policies. Fisher, for instance, understood that under certain circumstances, including perfect foresight, real interest rates might be immune to changes in inflation, at least over the long haul. But he rejected the premises needed to erect such a theory.

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