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Dinero digital y el Balance de los Bancos Centrales

Author

Listed:
  • Armas, Adrián

    (Banco Central de Reserva del Perú)

  • Singh, Manmohan

    (Fondo Monetario Internacional)

Abstract

El dinero digital es un paso lógico en un proceso de continuo avance tecnológico en los sistemas de pagos. En respuesta, los bancos centrales están revisando la conducción de sus operaciones monetarias a la luz del nuevo perfil de los mercados y sistemas financieros. El impacto del dinero digital dependerá del tipo de sustitución monetaria por dinero digital. El documento abarca varios casos en los que la sustitución del dinero en circulación y los depósitos bancarios pueden tener lugar a través de dineros digitales como el Dinero Digital del Banco Central (CBDC en sus siglas en inglés) u otra forma de dinero electrónico, y cómo éstos afectarían al balance del banco central. La alternativa de remunerar el CBDC, y si está alineada a un nuevo objetivo, podría amplificar el efecto de la política monetaria a través del canal de tasas de interés.

Suggested Citation

  • Armas, Adrián & Singh, Manmohan, 2023. "Dinero digital y el Balance de los Bancos Centrales," Working Papers 2023-015, Banco Central de Reserva del Perú.
    • Handle: RePEc:rbp:wpaper:2023-015
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    File URL: https://www.bcrp.gob.pe/docs/Publicaciones/Documentos-de-Trabajo/2023/documento-de-trabajo-015-2023.pdf
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    More about this item

    Keywords

    CBDC; digital money; currency-in-circulation; bank deposits; central bank balance sheet; money base (M0); seigniorage;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • F30 - International Economics - - International Finance - - - General

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