The Future of Money and the Central Bank Digital Currency Dilemma
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Eduardo Borensztein & Andrew Berg, 2000. "Full Dollarization; The Pros and Cons," IMF Economic Issues 24, International Monetary Fund.
- Mr. Eduardo Borensztein & Mr. Andrew Berg, 2000. "The Pros and Cons of Full Dollarization," IMF Working Papers 2000/050, International Monetary Fund.
- Luc Laeven & Fabian Valencia, 2020.
"Systemic Banking Crises Database II,"
IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(2), pages 307-361, June.
- Luc Laeven & Fabián Valencia, 2013. "Systemic Banking Crises Database," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(2), pages 225-270, June.
- Itai Agur & Mario Bergara & Michael D. Bordo & Alessandra Cillo & Walter Engert & Santiago Fernandez de Lis & Ben S.C. Fung & Ernest Gnan & Andrew T. Levin & Dirk Niepelt & Ruth Judson & Donato Mascia, 2018. "Do We Need Central Bank Digital Currency? Economics, Technology and Institutions," SUERF Studies, SUERF - The European Money and Finance Forum, number 2018/2 edited by Ernest Gnan and Donato Masciandaro, May.
- Mr. Marco Gross & Christoph Siebenbrunner, 2019. "Money Creation in Fiat and Digital Currency Systems," IMF Working Papers 2019/285, International Monetary Fund.
- Bindseil, Ulrich, 2020. "Tiered CBDC and the financial system," Working Paper Series 2351, European Central Bank.
- Barrdear, John & Kumhof, Michael, 2016. "The macroeconomics of central bank issued digital currencies," Bank of England working papers 605, Bank of England.
- Marc Lavoie, 2014. "Post-Keynesian Economics: New Foundations," Post-Print hal-01343652, HAL.
- Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
- Mr. Michael Kumhof & Mr. Jaromir Benes, 2012.
"The Chicago Plan Revisited,"
IMF Working Papers
2012/202, International Monetary Fund.
- Kumhof, Michael & Benes, Jaromir, 2014. "The Chicago Plan Revisited," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100303, Verein für Socialpolitik / German Economic Association.
- Lo Duca, Marco & Koban, Anne & Basten, Marisa & Bengtsson, Elias & Klaus, Benjamin & Kusmierczyk, Piotr & Lang, Jan Hannes & Detken, Carsten & Peltonen, Tuomas, 2017.
"A new database for financial crises in European countries,"
ESRB Occasional Paper Series
13, European Systemic Risk Board.
- Lo Duca, Marco & Koban, Anne & Basten, Marisa & Bengtsson, Elias & Klaus, Benjamin & Kusmierczyk, Piotr & Lang, Jan Hannes & Detken, Carsten & Peltonen, Tuomas, 2017. "A new database for financial crises in European countries," Occasional Paper Series 194, European Central Bank.
- Adair Turner, 2015. "Between Debt and the Devil: Money, Credit, and Fixing Global Finance," Economics Books, Princeton University Press, edition 1, number 10546.
- Huberman, Gur & Leshno, Jacob & Moallemi, Ciamac C., 2017. "Monopoly Without a Monopolist: An Economic Analysis of the Bitcoin Payment System," CEPR Discussion Papers 12322, C.E.P.R. Discussion Papers.
- Mr. Eduardo Borensztein & Mr. Andrew Berg, 2000. "Full Dollarization: The Pros and Cons," IMF Economic Issues 2000/004, International Monetary Fund.
- Kumhof, Michael & Noone, Clare, 2018. "Central bank digital currencies - design principles and balance sheet implications," Bank of England working papers 725, Bank of England.
- Michael D. Bordo & Andrew T. Levin, 2017.
"Central Bank Digital Currency and the Future of Monetary Policy,"
NBER Working Papers
23711, National Bureau of Economic Research, Inc.
- Michael D. Bordo & Andrew T. Levin, 2017. "Central Bank Digital Currency And The Future Of Monetary Policy," Economics Working Papers 17104, Hoover Institution, Stanford University.
- Codruta Boar & Henry Holden & Amber Wadsworth, 2020. "Impending arrival - a sequel to the survey on central bank digital currency," BIS Papers, Bank for International Settlements, number 107.
- Raphael Auer & Giulio Cornelli & Jon Frost, 2020. "Covid-19, cash, and the future of payments," BIS Bulletins 3, Bank for International Settlements.
- Michael D. Bordo & Andrew T. Levin, 2019. "Digital Cash: Principles & Practical Steps," NBER Working Papers 25455, National Bureau of Economic Research, Inc.
- repec:zbw:bofrdp:2017_027 is not listed on IDEAS
- Meaning, Jack & Dyson, Ben & Barker, James & Clayton, Emily, 2018. "Broadening narrow money: monetary policy with a central bank digital currency," Bank of England working papers 724, Bank of England.
- McLeay, Michael & Radia, Amar & Thomas, Ryland, 2014. "Money in the modern economy: an introduction," Bank of England Quarterly Bulletin, Bank of England, vol. 54(1), pages 4-13.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Lü, Zheng & Ozcelebi, Oguzhan & Yoon, Seong-Min, 2025. "Impact of central bank digital currency uncertainty on international financial markets," Research in International Business and Finance, Elsevier, vol. 73(PA).
- Wang, Yizhi & Lucey, Brian M. & Vigne, Samuel A. & Yarovaya, Larisa, 2022. "The Effects of Central Bank Digital Currencies News on Financial Markets," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
- Nadia Pocher & Andreas Veneris, 2022. "Central Bank Digital Currencies," Springer Optimization and Its Applications, in: Duc A. Tran & My T. Thai & Bhaskar Krishnamachari (ed.), Handbook on Blockchain, pages 463-501, Springer.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Dimitris Malliaropulos & Petros Migiakis, 2020. "Sovereign credit ratings and the fundamentals of the Greek economy," Economic Bulletin, Bank of Greece, issue 51, pages 1-30, July.
- Marcelo A. T. Aragão, 2021. "A Few Things You Wanted to Know about the Economics of CBDCs, but were Afraid to Model: a survey of what we can learn from who has done," Working Papers Series 554, Central Bank of Brazil, Research Department.
- Constantina Backinezos & Stelios Panagiotou & Christos Papazoglou, 2020. "The current account adjustment in Greece during the crisis: cyclical or structural?," Economic Bulletin, Bank of Greece, issue 51, pages 1-18, July.
- Yorgos Korfiatis, 2020. "D-euro: issuing the digital trust," Economic Bulletin, Bank of Greece, issue 51, pages 1-35, July.
- Sofia Anyfantaki & Hiona Balfoussia & Dimitra Dimitropoulou & Heather Gibson & Dimitris Papageorgiou & Filippos Petroulakis & Anastasia Theofilakou & Melina Vasardani, 2020. "COVID-19 and other pandemics: a literature review for economists," Economic Bulletin, Bank of Greece, issue 51, pages 1-36, July.
- Sarah Allen & Srđjan Čapkun & Ittay Eyal & Giulia Fanti & Bryan A. Ford & James Grimmelmann & Ari Juels & Kari Kostiainen & Sarah Meiklejohn & Andrew Miller & Eswar Prasad & Karl Wüst & Fan Zhang, 2020.
"Design Choices for Central Bank Digital Currency: Policy and Technical Considerations,"
NBER Working Papers
27634, National Bureau of Economic Research, Inc.
- Allen, Sarah & Capkun, Srdjan & Eyal, Ittay & Fanti, Giulia & Ford, Bryan & Grimmelmann, James & Juels, Ari & Kostiainen, Kari & Meiklejohn, Sarah & Miller, Andrew & Prasad, Eswar & Wüst, Karl & Zhang, 2020. "Design Choices for Central Bank Digital Currency: Policy and Technical Considerations," IZA Discussion Papers 13535, Institute of Labor Economics (IZA).
- Thitima Chucherd & Chanokkarn Mek-yong & Nalin Nookhwun & Passawuth Nuntnarumit & Natta Piyakarnchana & Suparit Suwanik, 2021. "Monetary and Financial Perspectives on Retail CBDC in the Thai Context," PIER Discussion Papers 152, Puey Ungphakorn Institute for Economic Research.
- Agur, Itai & Ari, Anil & Dell’Ariccia, Giovanni, 2022.
"Designing central bank digital currencies,"
Journal of Monetary Economics, Elsevier, vol. 125(C), pages 62-79.
- Mr. Itai Agur & Mr. Anil Ari & Mr. Giovanni Dell'Ariccia, 2019. "Designing Central Bank Digital Currencies," IMF Working Papers 2019/252, International Monetary Fund.
- Dell'Ariccia, Giovanni & Agur, Itai & Ari, Anil, 2020. "Designing Central Bank Digital Currencies," CEPR Discussion Papers 15366, C.E.P.R. Discussion Papers.
- Romain Baeriswyl & Samuel Reynard & Alexandre Swoboda, 2024.
"Retail CBDC purposes and risk transfers to the central bank,"
Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 160(1), pages 1-15, December.
- Romain Baeriswyl & Samuel Reynard & Alexandre Swoboda, 2021. "Retail CBDC purposes and risk transfers to the central bank," Working Papers 2021-19, Swiss National Bank.
- Alexandra Mitschke, 2021. "Central Bank Digital Currencies and Monetary Policy Effectiveness in the Euro Area," Working Papers Dissertations 74, Paderborn University, Faculty of Business Administration and Economics.
- Hossein Nabilou, 2020. "Testing the waters of the Rubicon: the European Central Bank and central bank digital currencies," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(4), pages 299-314, December.
- Theodore Pelagidis & Eleftheria Kostika, 2022. "Investigating the role of central banks in the interconnection between financial markets and cryptoassets," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 49(3), pages 481-507, September.
- Anil Savio Kavuri & Alistair Milne, 2019. "FinTech and the future of financial services: What are the research gaps?," CAMA Working Papers 2019-18, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Schiller, Jonathan & Gross, Jonas, 2021. "A Model for Central Bank Digital Currencies: Implications for Bank Funding and Monetary Policy," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242350, Verein für Socialpolitik / German Economic Association.
- Barrdear, John & Kumhof, Michael, 2022. "The macroeconomics of central bank digital currencies," Journal of Economic Dynamics and Control, Elsevier, vol. 142(C).
- Dirk Niepelt, 2020.
"Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics,"
Working Papers
20.05, Swiss National Bank, Study Center Gerzensee.
- Dirk Niepelt, 2020. "Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics," CESifo Working Paper Series 8712, CESifo.
- Niepelt, Dirk, 2020. "Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics," CEPR Discussion Papers 15457, C.E.P.R. Discussion Papers.
- Dirk Niepelt, 2020. "Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics," Diskussionsschriften dp2018, Universitaet Bern, Departement Volkswirtschaft.
- Lim, King Yoong & Liu, Chunping & Zhang, Shuonan, 2024.
"Optimal central banking policies: Envisioning the post-digital yuan economy with loan prime rate-setting,"
Emerging Markets Review, Elsevier, vol. 59(C).
- King Yoong Lim & Chunping Liu & Shuonan Zhang, 2021. "Optimal Central Banking Policies: Envisioning the Post-Digital Yuan Economy with Loan Prime Rate-setting," NBS Discussion Papers in Economics 2021/02, Economics, Nottingham Business School, Nottingham Trent University.
- Ferrari Minesso, Massimo & Mehl, Arnaud & Stracca, Livio, 2022.
"Central bank digital currency in an open economy,"
Journal of Monetary Economics, Elsevier, vol. 127(C), pages 54-68.
- Mehl, Arnaud & Stracca, Livio & Ferrari, Massimo Minesso, 2020. "Central bank digital currency in an open economy," CEPR Discussion Papers 15335, C.E.P.R. Discussion Papers.
- Ferrari Minesso, Massimo & Mehl, Arnaud & Stracca, Livio, 2020. "Central bank digital currency in an open economy," Working Paper Series 2488, European Central Bank.
- Paolo Fegatelli, 2019. "Central bank digital currencies: The case of universal central bank reserves," BCL working papers 130, Central Bank of Luxembourg.
More about this item
Keywords
CBDC; structural bank disintermediation; money creation; fractional reserve banking; full reserve banking;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:12:y:2020:i:22:p:9697-:d:448396. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.