Implications of E-Commerce for Central Banking: A Review

Abstract

The article examines the potential implications of e-commerce for central banks in general and the National Bank of Slovakia in particular. Drawing on the current state of the art in economic literature and available data, both the current situation and future outlook are examined. The main conclusion of the article is that while the immediate impact of e-commerce is not to be overstated, there appears to be a substantial potential of implications relevant to price stability in the long run. The author therefore argues that it would be prudent for central banks to follow developments in e-commerce as well as collect data in this area and study online prices.