Arbeitspapier
Is central bank currency fundamental to the monetary system?
In this paper, we discuss whether the ability of individuals to convert commercial bank money (i.e., bank deposits) into central bank money is fundamentally important for the monetary system. This is a significant question since the use of cash - the only form of central bank money that the public currently has access to - is declining rapidly in many countries. The question is highly relevant to the discussion around whether central banks need to issue a retail central bank digital currency (CBDC). We conclude that depositors' need for control could be a reason why cash or a CBDC is essential, even in countries with strong measures safeguarding commercial bank money.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Staff Discussion Paper ; No. 2020-2
- Klassifikation
-
Wirtschaft
Demand for Money
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
- Thema
-
Bank notes
Digital Currencies and fintech
Financial services
Payment clearing and settlement systems
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Armelius, Hanna
Claussen, Carl Andreas
Hendry, Scott
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
-
Ottawa
- (wann)
-
2020
- DOI
-
doi:10.34989/sdp-2020-2
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Armelius, Hanna
- Claussen, Carl Andreas
- Hendry, Scott
- Bank of Canada
Entstanden
- 2020
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