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Do We Need Central Bank Digital Currency? Economics, Technology and Institutions

Editor

Listed:
  • Ernest Gnan and Donato Masciandaro

Author

Listed:
  • Itai Agur
  • Mario Bergara
  • Michael D. Bordo
  • Alessandra Cillo
  • Walter Engert
  • Santiago Fernandez de Lis
  • Ben S.C. Fung
  • Ernest Gnan
  • Andrew T. Levin
  • Dirk Niepelt
  • Ruth Judson
  • Donato Masciandaro
  • Fabio Panetta
  • Paul Pichler
  • Jorge Ponce
  • Martin Summer

Abstract

Which are the effects in combining ideas from psychology and monetary economics? The aim of the workshop is to discuss how the new insights from behavioural economics can shape the demand and the supply of currency, considering both inside and outside money and including the recent debate on e-coin (central bank digital currencies) on the one side, and on bit-coin (private crypto currencies) on the other side.

Suggested Citation

  • Itai Agur & Mario Bergara & Michael D. Bordo & Alessandra Cillo & Walter Engert & Santiago Fernandez de Lis & Ben S.C. Fung & Ernest Gnan & Andrew T. Levin & Dirk Niepelt & Ruth Judson & Donato Mascia, 2018. "Do We Need Central Bank Digital Currency? Economics, Technology and Institutions," SUERF Studies, SUERF - The European Money and Finance Forum, number 2018/2 edited by Ernest Gnan and Donato Masciandaro, May.
    • Handle: RePEc:erf:erfstu:93
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    References listed on IDEAS

    as
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    Citations

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    Cited by:

    1. Agur, Itai & Ari, Anil & Dell’Ariccia, Giovanni, 2022. "Designing central bank digital currencies," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 62-79.
    2. Paulo Rupino Cunha & Paulo Melo & Helder Sebastião, 2021. "From Bitcoin to Central Bank Digital Currencies: Making Sense of the Digital Money Revolution," Future Internet, MDPI, vol. 13(7), pages 1-19, June.
    3. Bofinger, Peter & Haas, Thomas, 2020. "CBDC: Can central banks succeed in the marketplace for digital monies?," CEPR Discussion Papers 15489, C.E.P.R. Discussion Papers.
    4. Yorgos Korfiatis, 2020. "D-euro: issuing the digital trust," Economic Bulletin, Bank of Greece, issue 51, pages 1-35, July.
    5. Schiller, Jonathan & Gross, Jonas, 2021. "A Model for Central Bank Digital Currencies: Implications for Bank Funding and Monetary Policy," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242350, Verein für Socialpolitik / German Economic Association.
    6. Claudiu Ioan Negrea & Elena Madalina Scarlat, 2022. "The Digital Leu Challenges and Possible Areas of Implementation," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 377-385, September.
    7. Constantina Backinezos & Stelios Panagiotou & Christos Papazoglou, 2020. "The current account adjustment in Greece during the crisis: cyclical or structural?," Economic Bulletin, Bank of Greece, issue 51, pages 1-18, July.
    8. Walter Engert & Ben Fung & Björn Segendorf, 2019. "A Tale of Two Countries: Cash Demand in Canada and Sweden," Discussion Papers 2019-7, Bank of Canada.
    9. Sofia Anyfantaki & Hiona Balfoussia & Dimitra Dimitropoulou & Heather Gibson & Dimitris Papageorgiou & Filippos Petroulakis & Anastasia Theofilakou & Melina Vasardani, 2020. "COVID-19 and other pandemics: a literature review for economists," Economic Bulletin, Bank of Greece, issue 51, pages 1-36, July.
    10. Dr. Romain Baeriswyl & Dr. Samuel Reynard & Alexandre Swoboda, 2021. "Retail CBDC purposes and risk transfers to the central bank," Working Papers 2021-19, Swiss National Bank.
    11. Assen Slim, 2021. "Werden Die Brics Die Führer Der Digitalen Zentralbankwährungen Sein? [Will The Brics Be The Leaders In Central Bank Digital Currencies?]," Post-Print hal-03518463, HAL.
    12. Assen Slim, 2021. "Will the BRICS Be the Leaders in Central Bank Digital Currencies?," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-16.
    13. Carlos Viñuela & Juan Sapena & Gonzalo Wandosell, 2020. "The Future of Money and the Central Bank Digital Currency Dilemma," Sustainability, MDPI, vol. 12(22), pages 1-22, November.
    14. Jorge Ponce, 2020. "Digitalization, retail payments and Central Bank Digital Currency," Revista de Estabilidad Financiera, Banco de España, issue Autumn.
    15. Dimitris Malliaropulos & Petros Migiakis, 2020. "Sovereign credit ratings and the fundamentals of the Greek economy," Economic Bulletin, Bank of Greece, issue 51, pages 1-30, July.
    16. Mishra, Bineet & Prasad, Eswar, 2023. "A Simple Model of a Central Bank Digital Currency," IZA Discussion Papers 16154, Institute of Labor Economics (IZA).

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    More about this item

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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