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Digitales Zentralbankgeld als neues Instrument der Geldpolitik

Andreas Hanl () and Jochen Michaelis
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Andreas Hanl: University of Kassel

MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)

Abstract: Digitalization increasingly replaces the demand for cash and leads to a privatization of payment systems. A recently discussed central bank reaction is central bank digital currency. This article discusses the concept, design options, the implementation into the monetary policy framework, and the macroeconomic consequences of a central bank digital currency.

Keywords: CBDC; Digitales Zentralbankgeld; Geldpolitik (search for similar items in EconPapers)
JEL-codes: E42 E44 E52 E58 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-ger, nep-mac, nep-mon and nep-pay
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