Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves. The...

We present a policy framework for electronic money and payments. The framework poses a set of positive questions related to the areas of responsibility of central banks: payments systems, monetary policy and financial stability. The questions are posed to four broad forms of e-money: privately...

The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future. This paper considers the implications of the abandonment of the use of cash in the...

Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves. The...

The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future. This paper considers the implications of the abandonment of the use of cash in the...

We present a policy framework for electronic money and payments. The framework poses a set of positive questions related to the areas of responsibility of central banks: payments systems, monetary policy and financial stability. The questions are posed to four broad forms of e-money: privately...

Seit Anfang dieses Jahres wird in Deutschland der neue Rundfunkbeitrag erhoben. Im Unterschied zur vorher geltenden Rundfunkgebühr bemisst sich die Höhe der neuen Rundfunkabgabe nicht mehr nach der Zahl der vorgehaltenen Rundfunkgeräte. Sie richtet sich vielmehr an den Haushalten bzw....

Seit Anfang dieses Jahres wird in Deutschland der neue Rundfunkbeitrag erhoben. Im Unterschied zur vorher geltenden Rundfunkgebühr bemisst sich die Höhe der neuen Rundfunkabgabe nicht mehr nach der Zahl der vorgehaltenen Rundfunkgeräte. Sie richtet sich vielmehr an den Haushalten bzw....

Most party systems have seen a considerable rise in polarization during the past decades. We show that fiscal policies have contributed to this development. Our macro-level analysis of 166 elections since 1980 finds that austerity increases both electoral abstention and votes for non-mainstream...

How can we toughen up the state against the backdrop of the transformative challenges of climate change, planetary boundaries, and technological progress? I examine this question through a fundamental analysis of the dimensions of democratic politics and the "management" of public affairs. I...