Introduction

Livio Stracca ()
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Livio Stracca: European Central Bank

Chapter Chapter 1 in Redefining the Monetary Standard in the Digital Age, 2025, pp 1-12 from Springer

Abstract: Abstract The chapter provides a general introduction to the book and explores the transition from physical cash to digital forms of money and the implications for monetary policy and economic systems. It argues that this shift could allow for a fundamental redesign of monetary policy, where money’s value adjusts to prices, ensuring price stability. This could lead to a streamlined central bank role, with less reliance on policymakers’ knowledge. However, it also warns of potential risks in this new regime. The book aims to demystify the current monetary system, highlighting its dependence on specialized intermediaries like banks and the central bank. It questions whether improvements can be made to this system.

Keywords: Digital money; Monetary policy; Blockchain; Central bank; Cryptocurrencies (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-89840-2_1

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DOI: 10.1007/978-3-031-89840-2_1

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