Monetary Policy Implications of Digital Money
The term digital money refers to various proposed electronic payment mechanisms designed to be used by consumers to make retail payments. These mechanisms are based either on smart cards or on network money. Smart cards could potentially replace currency as the predominant means to pay for retail purchases. Software-based digital money products (network money) bring cheap electronic funds transfers to individuals and small firms. This paper examines how digital money affects the demand for money and how this process, in turn, affects the demand for reserves, monetary control, and the monetary transmission mechanism. Copyright 1998 by WWZ and Helbing & Lichtenhahn Verlag AG
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Volume (Year): 51 (1998)
Issue (Month): 1 ()
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Anthony M. Santomero & John J. Seater, 1995.
"Alternative Monies and the Demand for Media of Exchange,"
Center for Financial Institutions Working Papers
96-08, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Anthony M. Santomero & John J. Seater, 1996. "Alternative monies and the demand for media of exchange," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 942-964.
- Santomero, Anthony M & Seater, John J, 1996. "Alternative Monies and the Demand for Media of Exchange," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 28(4), pages 942-60, November.
- Ian Grigg, 1996.
"The Effect of Internet Value Transfer Systems on Monetary Policy,"
- Ian Grigg, . "The Effect of Internet Value Transfer Systems on Monetary Policy," Working Papers _001, London Business School.
- Baltensperger, Ernst, 1980. "Alternative approaches to the theory of the banking firm," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 1-37, January.
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