Narrow search
Showing 1 - 10 of 1,863
Cover Image
Government and private e-money-like systems : Federal Reserve notes and national bank notes
Weber, Warren E. - 2015
The period from 1914 to 1935 in the United States is unique in that it was the only time that both privately-issued bank notes (national bank notes) and central bank-issued bank notes (Federal Reserve notes) were simultaneously in circulation. This paper describes some lessons relevant to...
Persistent link: https://www.econbiz.de/10011280047
Cover Image
Do we need central bank digital currency? : economics, technology and institutions
Gnan, Ernest (ed.); Masciandaro, Donato (ed.) - Do We Need Central Bank Digital Currency?: Economics, …; … - 2018
Persistent link: https://www.econbiz.de/10011944433
Cover Image
Crypto "money" : perspective of a couple of Canadian central bankers
Chapman, James; Wilkins, Carolyn A. - 2018
rise of cryptoassets and a decline in the use of cash, should digital payments be left entirely to the private sector or …
Persistent link: https://www.econbiz.de/10011967273
Cover Image
Government and Private E-Money-Like Systems : Federal Reserve Notes and National Bank Notes
Weber, Warren E. - 2015
The period from 1914 to 1935 in the United States is unique in that it was the only time that both privately issued bank notes (national bank notes) and central-bank-issued bank notes (Federal Reserve notes) were simultaneously in circulation. This paper describes some lessons relevant to...
Persistent link: https://www.econbiz.de/10013011664
Cover Image
Cryptocurrencies, Central Bank Digital Cash, Traditional Money : Does Privacy Matter?
Masciandaro, Donato - 2018
The aim of this paper is to analyze the demand of both traditional and new media of exchange – as cryptocurrencies and central bank digital currencies – proposing a novel specification of the demand for money. In this specification, the medium of payment (MOP) has three properties: the first...
Persistent link: https://www.econbiz.de/10012907412
Cover Image
Public money as a store of value, heterogeneous beliefs, and banks : implications of CBDC
Muñoz, Manuel A.; Soons, Oscar - 2023
The bulk of euro-denominated cash is held for store of value purposes, with such holdings sharply increasing in times … hold cash. In our model, the introduction of a central bank digital currency (CBDC) as a store of value that is superior to … cash leads to bank disintermediation as some depositors opt for switching to CBDC based on their beliefs. While CBDC …
Persistent link: https://www.econbiz.de/10014278624
Cover Image
Central bank digital currency and cash in the euro area : current developments and one specific proposal
Rösl, Gerhard; Seitz, Franz - In: Credit and capital markets : Kredit und Kapital 55 (2022) 4, pp. 523-551
The present paper provides an overview on current developments of cash usage and issue of central bank digital currency … (CBDC) in the euro area and proposes a possible design of a digital euro that allows for instant offline payments. Cash … regulations and supply-side restrictions by commercial banks. Nonetheless, overall demand for euro cash remained strong and even …
Persistent link: https://www.econbiz.de/10014518599
Cover Image
Rupee Depreciation: Its Causes and Cure
Raj, Madhusudan - Volkswirtschaftliche Fakultät, … - 2014
Indian currency rupee is depreciating rapidly against the US dollar and other foreign currencies. This paper analyses the major causes of this depreciation. It also discusses its cures.
Persistent link: https://www.econbiz.de/10011109724
Cover Image
Money and Production, and Liquidity Trap
Dubey, Pradeep; Geanakoplos, John - Cowles Foundation for Research in Economics, Yale University - 2006
We prove the existence of monetary equilibrium in a finite horizon economy with production. We also show that if agents expect the monetary authority to significantly decrease the supply of bank money available for short term loans in the future, then the economy will fall into a liquidity trap...
Persistent link: https://www.econbiz.de/10005762579
Cover Image
The Harmonic Fisher Equation and the Inflationary Bias of Real Uncertainty
Karatzas, Ioannis; Shubik, Martin; Sudderth, William D.; … - Cowles Foundation for Research in Economics, Yale University - 2003
The classical Fisher equation asserts that in a nonstochastic economy, the inflation rate must equal the difference between the nominal and real interest rates. We extend this equation to a representative agent economy with real uncertainty in which the central bank sets the nominal rate of...
Persistent link: https://www.econbiz.de/10005463887