Monetary policy implications of digital money
The term digital money refers to various proposed electronic payment mechanisms designed to use 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.
|Date of creation:||1997|
|Date of revision:|
|Publication status:||Published in Kyklos (International Review of Social Sciences) 51.1(1998): pp. 89-117|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Ian Grigg, .
"The Effect of Internet Value Transfer Systems on Monetary Policy,"
_001, London Business School.
- Ian Grigg, 1996. "The Effect of Internet Value Transfer Systems on Monetary Policy," Macroeconomics 9607004, EconWPA.
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Center for Financial Institutions Working Papers
96-08, Wharton School Center for Financial Institutions, University of Pennsylvania.
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- 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.
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