Stablecoins and the Global Economy: A DECO Deep Dive

We unpack an NBER paper arguing that stablecoins do more than money — they reshape global finance through a borderless digital economy called DECO. We explore reserve-backed vs crypto-backed designs, the two channels linking digital demand to dollars, and surprising implications for US rates, global borrowing, and consumption volatility—highlighting uneven impacts on Americans, the rest of the world, and the builders inside the DECO.

Note: This podcast was AI-generated, and sometimes AI can make mistakes. Please double-check any critical information.

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