Should the central bank issue e-money? / by Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong.: FB3-5/2018-58E-PDF
"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 tradeoffs depend on i) the technological setup of the e-money system (as a token or an account; centralized or decentralized); ii) the potential improvement in the implementation and transmission of monetary policy; iii) the risks to safety and privacy from cyber attacks; and iv) the uncertain impact on banks’ efficiency and financial stability. The most compelling argument for central banks to issue e-money is to address competition problems in the banking sector"--Abstract.
Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.867619&sl=0
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| Title | Should the central bank issue e-money? / by Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong. |
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| Publication type | Monograph - View Master Record |
| Language | [English] |
| Format | Digital text |
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| Description | ii, 27 p. |
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