Digital Money, Liquidity, and Monetary Policy (originally published in July 1997)
DOI:
https://doi.org/10.5210/fm.v0i0.1512Abstract
The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks and the reaction of the banking system.Downloads
Published
2005-12-05
How to Cite
Berentsen, A. (2005). Digital Money, Liquidity, and Monetary Policy (originally published in July 1997). First Monday. https://doi.org/10.5210/fm.v0i0.1512
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