Journal Article
Bank notes and stored-value cards: stepping lightly into the past
Abstract: Like the bank notes that circulated in this country from 1863 to 1913, stored-value cards substitute the liabilities of private banks for government and central-bank liabilities. This shift may have important implications for the federal budget, the money supply, and monetary policy.
Keywords: Smart cards; Monetary policy; Money;
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 1998
Issue: Sep
Order Number: 1