Digital Economy, Stablecoins, and the Global Financial System

The rise of the Digital Economy has the potential to reshape international financial markets and the role of traditional reserve assets such as the US dollar. While the creation of Stablecoins may increase the demand for safe dollar-denominated instruments due to reserve backing requirements, they

搜集汇总

背景与挑战

背景概述

该数据集是2025年7月发布的一篇NBER工作论文，题为“Digital Economy, Stablecoins, and the Global Financial System”，作者为Marina Azzimonti和Vincenzo Quadrini。论文通过多国模型分析数字经济和稳定币对全球金融系统的冲击，重点探讨了它们对传统储备资产需求、美国利率及跨国借贷的影响，并指出数字经济发展会增加美国消费波动性，但降低其他国家的波动性。