Core Points for Introduction

Joseph Huber ()

Chapter Chapter 1 in The Monetary Turning Point, 2023, pp 1-7 from Springer

Abstract: Abstract The monetary system is at a turning point. The hitherto dominant type of money, bank deposit money, has past its zenith, while new types of digital money are on the rise, competing for becoming the next dominant type of money, that is, the prevailing means of payment that determine the functioning of the monetary system. Rising competitors include first of all Central Bank Digital Currency (CBDC), in addition also unbacked cryptocurrencies of lesser prospects. Covered cryptocurrencies, so-called stablecoins, can put additional pressure on bank deposit money, not however on central-bank money. The recomposition of the money supply has repercussions on the role of central banks and monetary policy.

Keywords: Monetary system analysis; Future of money and banking; Recomposition of the money supply; Central Bank Digital Currency (CBDC); Private cryptocurrencies; Dominant money paradigm (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-23957-1_1

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DOI: 10.1007/978-3-031-23957-1_1

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