EconPapers    
Economics at your fingertips  
 

Die Auswirkungen von Zahlungsverkehrs¬innovationen auf die Geldpolitik

Stefan Schmitz

Macroeconomics from University Library of Munich, Germany

Abstract: This paper analyses the effects of innovations in retail payment systems on the conduct and implementation of monetary policy. Recent innovations in retail payment systems (access products and electronic money products) are placed in the context of historical institutional change in the economy-wide payments system. The first part presents the central in-stitutional characteristics of the economy-wide payments system and the conceptualisation of the fundamentals of monetary policy. The second part analyses the effects of payment system innovations on the question whether monetary policy will survive payment system innovations in principle, its effects on the efficacy and implementation of monetary policy. In addition to these direct effects, the second part also discusses the indirect effects on monetary policy via the efficiency and stability of payment systems. The analysis is based on the New Institutional Economics.

Keywords: electronic money; monetary policy; central banking; monetary systems; payment systems (search for similar items in EconPapers)
JEL-codes: E E E (search for similar items in EconPapers)
Pages: 23 pages
Date: 2005-09-08
Note: Type of Document - pdf; pages: 23
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0509/0509015.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0509015

Access Statistics for this paper

More papers in Macroeconomics from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ().

 
Page updated 2021-06-06
Handle: RePEc:wpa:wuwpma:0509015