The Case for Central Bank Electronic Money and the Non-case for Central Bank Cryptocurrencies
Abstract: We characterize various currencies according to their control structure, focusing on cryptocurrencies such as Bitcoin and government-issued fiat money. We then argue that there is a large unmet demand for a liquid asset that allows households and firms to save outside of the private financial sector.
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Review
Publication Date: 2018