Narayana Kocherlakota, formerly the head of the Federal Reserve Bank of Minneapolis and now a prolific economics blogger, penned a rece...

The whippersnappers who work in the cryptocurrency domain are moving incredibly fast. As I've been saying for a while, assets like b...

Last week Citi's Willem Buiter published a note on the three ways to get rid of the effective lower bound to nominal interest rates...

The Swedes really don't like cash. First, consider that Sweden is the only country in the world that I'm aware of where reliance ...

What is this gas station using as a medium of account? Visa/Mastercard dollars or Federal Reserve dollars? In this post I'll argue ...

Florentine florin Last year Scott Sumner introduced the econ blogosphere to what he likes to call the medium-of-account function of...

Many moons ago Matt Yglesias wrote that the "zero lower bound is a pure artifact of the existence of physical cash."  In thi...

Nick Rowe , Scott Sumner , and most recently, David Glasner , all say that the US's current medium of account is the dollar. I disa...

Isaac Newton, Master of the Mint Miles Kimball's proposal for subordinating paper money to electronic money sounds to me a bit like...

Bill Woolsey , Scott Sumner ( here and here ), and Nick Rowe and a debate that was fun to follow. It seems to me that they more or less...

Tyler Cowen and Scott Sumner discuss the idea of abolishing central bank-issued cash. The existence of cash can create problems for mon...

Gavyn Davies's post Will central banks cancel government debt? dovetails nicely with the recent fundamental value of fiat money deba...