Nicht die Zeit für digitales Notenbankgeld. Warum Cash weiterhin unersetzbar ist

Not the time for central bank digital currency. Why cash is still irreplaceable

Ansgar Belke and Edoardo Beretta

MPRA Paper from University Library of Munich, Germany

Abstract: The following short article aims at presenting some relevant (though less discussed) aspects of concern about introducing central bank digital currency – no matter if intended as a substitute or complement to cash. For example, concrete referral to potential effects such as bank runs and capital flight is also made. Its coexistence with limits for cash payments already existing in several European countries is analytically questioned too. What are also the structural characteristics making paper money and coins (which are the only means of payment directly issued by the central bank) still irreplaceable? These among other topics (like the effects of COVID-19 pandemic for limits for cash payments) will be dealt with following a discursive, yet rigorously macro-economically corroborated approach.

Keywords: Bargeldobergrenzen; digitales Notenbankgeld; Zahlungsmittel. (search for similar items in EconPapers)
JEL-codes: E51 E58 (search for similar items in EconPapers)
Date: 2020-05, Revised 2020-06
New Economics Papers: this item is included in nep-ger and nep-pay
References: View references in EconPapers View complete reference list from CitEc
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:100932

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