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DeKo: An Electricity-Backed Currency Proposal

Nick Gogerty

affiliation not provided to SSRN

Joseph Zitoli

affiliation not provided to SSRN

January 4, 2011

Currencies play an important role in facilitating trade and economic growth. Shifts in currency values may lead to economic dislocations deleterious to trade and growth. Most currencies are issued by government central banks. These central banks hold assets in the form of government debt and gold against the currency they issue.

Alternatives to traditional debt and gold assets may make sense for central banks to hold as a supplement or substitute. One alternative asset for a central bank to hold consists of electricity delivering assets. Electricity delivering assets don’t need to be physical assets such as fuel or power plants, but rather may be claims in the form of standardized Power Purchase Agreements for the delivery of electricity from power producers.

Electricity delivering assets can hold their economic value more effectively than gold or debt due to price stability and resistance to devaluation from over-issuance. The DeKo-backed currency concept advocates a portfolio of diversified electricity delivering assets that offers more social benefits than gold and retains monetary value better than government debt.

Number of Pages in PDF File: 35

Keywords: currency, economics, finance, energy, stability, macroeconomics

JEL Classification: A10, E42, E51, E58, F02, F31, H56, H62, L94, L90, L97, O23, Q20, Q30, Q38, Q4, Q40, Q43, Q42

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Date posted: April 7, 2011 ; Last revised: July 5, 2012

Suggested Citation

Gogerty, Nick and Zitoli, Joseph, DeKo: An Electricity-Backed Currency Proposal (January 4, 2011). Available at SSRN: http://ssrn.com/abstract=1802166 or http://dx.doi.org/10.2139/ssrn.1802166

Contact Information

Nick Gogerty (Contact Author)
affiliation not provided to SSRN ( email )
Joseph Zitoli
affiliation not provided to SSRN ( email )
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