IDEAS home Printed from https://ideas.repec.org/p/ess/wpaper/id13006.html

Money and Central Bank Digital Currency

Author

Listed:
  • Sayuri Shirai

Abstract

This paper takes an overview of the concepts and features of central bank money and private sector money and focuses on the actual performance of these types of money in selected advanced and emerging economies. In addition, digital coins (crypto assets), such as bitcoin, are newly emerged private sector money. Much attention has been given to digital coins because the underlying distributed ledge technology (DLT) enables a decentralized verification process while maintaining features similar to cash. Some central banks have expressed unease about these digital coins because of the high volatility in their values. However, the size of the newly emerged private sector money currently remains limited due to its limited use as a payment tool.

Suggested Citation

  • Sayuri Shirai, 2019. "Money and Central Bank Digital Currency," Working Papers id:13006, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:13006
    Note: Institutional Papers
    as

    Download full text from publisher

    File URL: http://www.esocialsciences.org/Download/repecDownload.aspx?fname=A2019218133324_29.pdf&fcategory=Articles&AId=13006&fref=repec
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tommaso Mancini Griffoli & Maria Soledad Martinez Peria & Itai Agur & Anil Ari & John Kiff & Adina Popescu & Celine Rochon, 2018. "Casting Light on Central Bank Digital Currencies," IMF Staff Discussion Notes 18/08, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chen, Hongyi & Siklos, Pierre L., 2022. "Central bank digital currency: A review and some macro-financial implications," Journal of Financial Stability, Elsevier, vol. 60(C).
    2. Gąsiorkiewicz Lech & Monkiewicz Jan & Monkiewicz Marek, 2020. "Technology-Driven Innovations in Financial Services: The Rise of Alternative Finance," Foundations of Management, Sciendo, vol. 12(1), pages 137-150, January.
    3. Ameen Omar Shareef & K.P. Prabheesh, 2022. "Does International Monetary Policy Influence the Bank Risk? Evidence from India," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(2), pages 135-154, August.
    4. Peter J. Morgan, 2022. "Fintech and Financial Inclusion in Southeast Asia and India," Asian Economic Policy Review, Japan Center for Economic Research, vol. 17(2), pages 183-208, July.
    5. Novi Maryaningsih & Suahasil Nazara & Febrio N. Kacaribu & Solikin M. Juhro, 2022. "Central Bank Digital Currency: What Factors Determine Its Adoption?," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(1), pages 1-24, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wu, WenTing & Chen, XiaoQian & Zvarych, Roman & Huang, WeiLun, 2024. "The Stackelberg duel between Central Bank Digital Currencies and private payment titans in China," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    2. Wang, Yi-Ran & Ma, Chao-Qun & Ren, Yi-Shuai, 2022. "A model for CBDC audits based on blockchain technology: Learning from the DCEP," Research in International Business and Finance, Elsevier, vol. 63(C).
    3. Hoang, Yen Hai & Ngo, Vu Minh & Bich Vu, Ngoc, 2023. "Central bank digital currency: A systematic literature review using text mining approach," Research in International Business and Finance, Elsevier, vol. 64(C).
    4. Agur, Itai & Ari, Anil & Dell’Ariccia, Giovanni, 2022. "Designing central bank digital currencies," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 62-79.
    5. Peter Wierts & Harro Boven, "undated". "Central Bank Digital Currency - Objectives, preconditions and design choices," DNB Occasional Studies 20-01, Netherlands Central Bank, Research Department.
    6. Ahl, A. & Yarime, M. & Goto, M. & Chopra, Shauhrat S. & Kumar, Nallapaneni Manoj. & Tanaka, K. & Sagawa, D., 2020. "Exploring blockchain for the energy transition: Opportunities and challenges based on a case study in Japan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 117(C).
    7. Assen Slim, 2022. "MDBC e-hryvnia: Zentralbankgeld in Planung [The e-Hryvnia CBDC: a Central Bank Currency in Project]," Post-Print hal-03937410, HAL.
    8. Sarah Allen & Srđjan Čapkun & Ittay Eyal & Giulia Fanti & Bryan A. Ford & James Grimmelmann & Ari Juels & Kari Kostiainen & Sarah Meiklejohn & Andrew Miller & Eswar Prasad & Karl Wüst & Fan Zhang, 2020. "Design Choices for Central Bank Digital Currency: Policy and Technical Considerations," NBER Working Papers 27634, National Bureau of Economic Research, Inc.
    9. Raphael Auer & Rainer Boehme, 2020. "The technology of retail central bank digital currency," BIS Quarterly Review, Bank for International Settlements, March.
    10. Sayuri Shirai, 2019. "Money and Central Bank Digital Currency," ADBI Working Papers 922, Asian Development Bank Institute.
    11. Paolo Fegatelli, 2019. "Central bank digital currencies: The case of universal central bank reserves," BCL working papers 130, Central Bank of Luxembourg.
    12. Jorge Ponce, 2020. "Digitalization, retail payments and Central Bank Digital Currency," Financial Stability Review, Banco de España, issue Autumn.
    13. Oliver Read & Stefan Schäfer, 2020. "Libra Project: Regulators Act on Global Stablecoins," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(6), pages 392-398, November.
    14. Iulia Cioroianu & Shaen Corbet & Charles Larkin & Les Oxley, 2023. "Developing central bank digital currencies: a reality check during cryptocurrency euphoria," Economics and Business Letters, Oviedo University Press, vol. 12(2), pages 105-114.
    15. Harold Solet & Gilbert Bougi, 2022. "Does a single market require a single currency? Twenty Years of the Euro [Un marché unique implique-t-il une monnaie unique? Les vingt ans de l’euro]," Post-Print hal-03948418, HAL.
    16. Ngo, Vu Minh & Van Nguyen, Phuc & Nguyen, Huan Huu & Thi Tram, Huong Xuan & Hoang, Long Cuu, 2023. "Governance and monetary policy impacts on public acceptance of CBDC adoption," Research in International Business and Finance, Elsevier, vol. 64(C).
    17. Jonathan Chiu & Seyed Mohammadreza Davoodalhosseini, 2023. "Central Bank Digital Currency and Banking: Macroeconomic Benefits of a Cash-Like Design," Management Science, INFORMS, vol. 69(11), pages 6708-6730, November.
    18. Miguel Ángel Echarte Fernández & Sergio Luis Náñez Alonso & Ricardo Reier Forradellas & Javier Jorge-Vázquez, 2022. "From the Great Recession to the COVID-19 Pandemic: The Risk of Expansionary Monetary Policies," Risks, MDPI, vol. 10(2), pages 1-17, January.
    19. Thitima Chucherd & Chanokkarn Mek-yong & Nalin Nookhwun & Passawuth Nuntnarumit & Natta Piyakarnchana & Suparit Suwanik, 2021. "Monetary and Financial Perspectives on Retail CBDC in the Thai Context," PIER Discussion Papers 152, Puey Ungphakorn Institute for Economic Research.
    20. Sebastian Infante & Kyungmin Kim & Anna Orlik & André F. Silva & Robert J. Tetlow, 2023. "Retail Central Bank Digital Currencies: Implications for Banking and Financial Stability," Finance and Economics Discussion Series 2023-072, Board of Governors of the Federal Reserve System (U.S.).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ess:wpaper:id:13006. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Padma Prakash (email available below). General contact details of provider: http://www.esocialsciences.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.