Bank notes and stored-value cards: stepping lightly into the past

William P. Osterberg and James Thomson

Economic Commentary, 1998, issue Sep

Abstract: Like the bank notes that circulated in this country from 1863 to 1913, stored-value cards substitute the liabilities of private banks for government and central-bank liabilities. This shift may have important implications for the federal budget, the money supply, and monetary policy.

Keywords: Smart cards; Monetary policy; Money (search for similar items in EconPapers)
Date: 1998
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