“Something like Libra would make transactions costs much cheaper. Major central banks need to appeal that they, too, are making efforts to make settlement more efficient with better use of digital technology.”
But why? Shouldn't we first...
scmp.com/economy/global… via @scmpnews
But why? Shouldn't we first...
scmp.com/economy/global… via @scmpnews
@SCMPNews ...ask how useful it is to reduce transaction costs associated with payments transfers, and for whom? If lower transaction costs spur activity in the markets for real goods and services, or if they encourage greater long-term investment in productive economic activity, then...
@SCMPNews ...they are good for the economy, but transaction costs are already so low that it is hard to imagine they will make much difference to “real” transactions. If lower transaction costs encourage more speculative activity, capital flight, investment fads, and debt, however, then...
@SCMPNews ...they are likely just to add more distortions to the real economy.
A decade ago many economist were discussing how implementing a Tobin tax might help stabilize financial markets and encourage growth in the real economy. But now central banks are trying to impose a...
A decade ago many economist were discussing how implementing a Tobin tax might help stabilize financial markets and encourage growth in the real economy. But now central banks are trying to impose a...
@SCMPNews ...kind of "negative" Tobin tax. Is perfect liquidity really that good for the underlying economy, as opposed to financial markets?
