Download This PaperThe Case for Central Bank Electronic Money and the Non-Case for Central Bank Cryptocurrencies
10 Pages Posted: 14 May 2021
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The Case for Central Bank Electronic Money and the Non-Case for Central Bank Cryptocurrencies
Number of pages: 10
Posted: 13 Jun 2018
Last Revised: 20 Mar 2020
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1,481
Date Written: 2018
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.
JEL Classification: G23, E59, E50
Suggested Citation: Suggested Citation
Berentsen, Aleksander and Schär, Fabian, The Case for Central Bank Electronic Money and the Non-Case for Central Bank Cryptocurrencies (2018). FRB of St. Louis Review, Available at SSRN: https://ssrn.com/abstract=3843837 or http://dx.doi.org/10.20955/r.2018.97-106
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