Hey, Economist! What’s the Case for Central Bank Digital Currencies?

Michael Lee and Antoine Martin

No 20210430, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Since the launch of Bitcoin and other first-generation cryptocurrencies, there has been extensive experimentation in the digital currency space. So far, however, digital currencies have yet to gain much ground as a means of payment. Is there a vacuum in the landscape of digital money and payments that central banks are naturally positioned to fill? In this post, Michael Lee and Antoine Martin, economists in the New York Fed’s Money and Payment Studies function, answer some questions regarding the concept of central bank digital currencies (CBDCs).

Keywords: central; bank; digital; currencies (search for similar items in EconPapers)
JEL-codes: E58 (search for similar items in EconPapers)
Date: 2021-04-30
New Economics Papers: this item is included in nep-mac, nep-mon and nep-pay
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