Resisting Economic Crises with the Grondona System of Currency Convertibility – Professor Patrick Collins, Azabu University
Original Article Reference
This SciPod is a summary of the paper ‘Simulation of the Grondona System of Conditional Currency Convertibility Based on Primary Commodities, Considered as a Means to Resist Currency Crises’, from the Journal of Risk and Financial Management. https://doi.org/10.3390/jrfm12020075
About this episode
Currency crises are a major feature of the world economy we live in, and many governments face the challenge of defending their currency’s exchange-rate. A system of currency and money needs a standard of value to be stable, but no such system has existed since the end of the US Gold Standard in 1971. Professor Patrick Collins of Azabu University in Japan and his colleagues perform detailed simulations and argue that the Grondona system of conditional currency convertibility is the only practical method to stabilise currencies in our modern world.
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