The paper investigates the possibility of decline in the persistence of real exchange rates, or deviations from PPP. To this end, we test the null hypothesis of no decline in the PPP deviation persistence between two subsamples using a fractional integration framework. In addition, our...

The first global comparative study of cryptoasset regulation by the Cambridge Centre for Alternative Finance provides a comprehensive, systematic, and comparative analysis of the current regulatory landscape of cryptoassets and related activities. The study covers 23 jurisdictions and is based...

This article explores legal and constitutional dimensions of central banks’ powers to create money, ‘central bank reserves’, through monetary policy operations. Despite the prominence of monetary authority since the Financial Crisis, the law supporting the creation of central bank reserves...