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Bank notes and stored-value cards: stepping lightly into the past

Author

Listed:
  • William P. Osterberg
  • James B. Thomson

Abstract

Like the bank notes that circulated in this country from 1863 to 1913, stored-value cards substitute the liabilities of private banks for government and central-bank liabilities. This shift may have important implications for the federal budget, the money supply, and monetary policy.

Suggested Citation

  • William P. Osterberg & James B. Thomson, 1998. "Bank notes and stored-value cards: stepping lightly into the past," Economic Commentary, Federal Reserve Bank of Cleveland, issue Sep.
    • Handle: RePEc:fip:fedcec:y:1998:i:sep1
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    Cited by:

    1. Stijn Claessens & Thomas Glaessner & Daniela Klingebiel, 2002. "Electronic Finance: Reshaping the Financial Landscape Around the World," Journal of Financial Services Research, Springer;Western Finance Association, vol. 22(1), pages 29-61, August.

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