Coverart for item
The Resource The curse of cash, Kenneth S. Rogoff

The curse of cash, Kenneth S. Rogoff

Label
The curse of cash
Title
The curse of cash
Statement of responsibility
Kenneth S. Rogoff
Creator
Author
Subject
Language
eng
Summary
From the New York Times bestselling author of This Time Is Different, "a fascinating and important book" (Ben Bernanke) about phasing out most paper money to fight crime and tax evasion and to battle financial crises by tapping the power of negative interest rates. The world is drowning in cash and it’s making us poorer and less safe. In The Curse of Cash, Kenneth Rogoff, one of the world’s leading economists, makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money. Even as people in advanced economies are using less paper money, there is more cash in circulation a record $1.4 trillion in U.S. dollars alone, or $4,200 for every American, mostly in $100 bills. And the United States is hardly exceptional. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy. As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash. This constraint has paralyzed monetary policy in virtually every advanced economy, and is likely to be a recurring problem in the future. The Curse of Cash offers a plan for phasing out most paper money while leaving small-denomination bills and coins in circulation indefinitely and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor. While phasing out the bulk of paper money will hardly solve the world’s problems, it would be a significant step toward addressing a surprising number of very big ones. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash is certain to spark widespread debate. --
Assigning source
Provided by publisher
Cataloging source
DLC
http://library.link/vocab/creatorName
Rogoff, Kenneth S
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Paper money
  • Money
  • Currency question
  • Monetary policy
Label
The curse of cash, Kenneth S. Rogoff
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier MARC source
rdacarrier
Content category
text
Content type MARC source
rdacontent
Contents
Introduction and overview -- The early development of coins and paper currency -- Size and composition of global currency supplies, and the share held abroad -- Holdings of currency in domestic legal, tax-paying economy -- Currency demand in the underground economy -- Seigniorage -- A plan for phasing out most paper currency -- The cost of the zero bound constraint -- Higher inflation targets, nominal GDP, escape clauses and fiscal policy -- Other paths to negative interest rates -- Other possible downsides to negative nominal policy rates -- Negative interest rates as a violation of trust and a step away from rule-based systems -- International dimensions to phasing out paper currency -- Digital currencies and gold -- Conclusions
Control code
19102522
Dimensions
23 cm
Extent
x, 283 pages
Isbn
9780691172132
Isbn Type
(hardback)
Lccn
2016014943
Media category
unmediated
Media MARC source
rdamedia
System control number
(OCoLC)948560967
Label
The curse of cash, Kenneth S. Rogoff
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier MARC source
rdacarrier
Content category
text
Content type MARC source
rdacontent
Contents
Introduction and overview -- The early development of coins and paper currency -- Size and composition of global currency supplies, and the share held abroad -- Holdings of currency in domestic legal, tax-paying economy -- Currency demand in the underground economy -- Seigniorage -- A plan for phasing out most paper currency -- The cost of the zero bound constraint -- Higher inflation targets, nominal GDP, escape clauses and fiscal policy -- Other paths to negative interest rates -- Other possible downsides to negative nominal policy rates -- Negative interest rates as a violation of trust and a step away from rule-based systems -- International dimensions to phasing out paper currency -- Digital currencies and gold -- Conclusions
Control code
19102522
Dimensions
23 cm
Extent
x, 283 pages
Isbn
9780691172132
Isbn Type
(hardback)
Lccn
2016014943
Media category
unmediated
Media MARC source
rdamedia
System control number
(OCoLC)948560967

Library Locations

    • Badia FiesolanaBorrow it
      Via dei Roccettini 9, San Domenico di Fiesole, 50014, IT
      43.803074 11.283055
Processing Feedback ...