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Cyber money as a medium of exchange

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  • Kabelac, Gabriele

Abstract

Electronic money constitutes (for the time being) the most recent innovation in payment instruments. The extent to which the further spread of electronic money might have consequences for monetary policy depends not least on the actual demand for electronic money. Numerous studies have sought to answer this question. However, those studies deal for the most part with the expected spread of electronic money in over-the-counter (OTC) transactions. As far as further developments in network money are concemed, though, it has not been possible to gain anywhere near as much in the way of insights. This is particularly amazing since from a monetary policy perspective network money, in particular, threatens the central bank's monopoly on money creation ...

Suggested Citation

  • Kabelac, Gabriele, 1999. "Cyber money as a medium of exchange," Discussion Paper Series 1: Economic Studies 1999,05e, Deutsche Bundesbank.
    • Handle: RePEc:zbw:bubdp1:199905e
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    References listed on IDEAS

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    Cited by:

    1. Jan Marc Berk, 2002. "Central banking and financial innovation. A survey of the modern literature," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 55(222), pages 263-297.
    2. Jan Marc Berk, 2002. "Central banking and financial innovation. A survey of the modern literature," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 55(222), pages 263-297.
    3. Jan Marc Berk, 2002. "Banca centrale e innovazione finanziaria. Una rassegna della letteratura recente," Moneta e Credito, Economia civile, vol. 55(220), pages 345-385.
    4. Berk, Jan Marc, 2001. "New economy, old central banks? Monetary transmission in a new economic environment," Serie Research Memoranda 0032, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.

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