Central Bank Digital Currency: A Literature Review

Francesca Carapella and Jean Flemming

No 2020-11-09-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Technological advances in recent years have led to a growing number of fast, electronic means of payment available to consumers for everyday transactions, raising questions for policymakers about the role of the public sector in providing a digital payment instrument for the modern economy. From a theoretical standpoint, the introduction of a central bank digital currency (CBDC) raises long-standing questions relating to the provision of public and private money (Gurley and Shaw 1960), and the ability of the central bank to use CBDC as a means for transmitting monetary policy directly to households (Tobin 1985).

Date: 2020-11-09
New Economics Papers: this item is included in nep-mac, nep-mon and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2020-11-09-1

DOI: 10.17016/2380-7172.2790

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