Monetary policy implications of digital money

Aleksander Berentsen

MPRA Paper from University Library of Munich, Germany

Abstract: The term digital money refers to various proposed electronic payment mechanisms designed to use by consumers to make retail payments. These mechanisms are based either on smart cards or on network money. Smart cards could potentially replace currency as the predominant means to pay for retail purchases. Software-based digital money products (network money) bring cheap electronic funds transfers to individuals and small firms. This paper examines how digital money affects the demand for money and how this process, in turn, affects the demand for reserves, monetary control, and the monetary transmission mechanism.

Keywords: Digital Money; Monetary Policy (search for similar items in EconPapers)
JEL-codes: E41 E51 E52 (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (3)

Published in Kyklos (International Review of Social Sciences) 51.1(1998): pp. 89-117

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Related works:
Journal Article: Monetary Policy Implications of Digital Money (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:37392

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