The monetary turning point : from bank money to Central Bank Digital Currency (CBDC) / Joseph Huber.
Huber, Joseph, author.
2023
HG173
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Title
The monetary turning point : from bank money to Central Bank Digital Currency (CBDC) / Joseph Huber.
Author
Huber, Joseph, author.
ISBN
9783031239571 (electronic bk.)
3031239571 (electronic bk.)
9783031239564
3031239563
DOI
https://doi.org/10.1007/978-3-031-23957-1
Published
Cham : Palgrave Macmillan, 2023.
Language
English
Description
1 online resource (xiii, 192 pages) : illustrations
Item Number
10.1007/978-3-031-23957-1 doi
Call Number
HG173
Dewey Decimal Classification
332.102854678
Summary
The monetary system is at a turning point. The question is no longer if, but how soon countries will roll out a Central Bank Digital Currency (CBDC). This book discusses the recomposition of the money supply from the present bank money regime to a monetary system determined by CBDC. As the book sets out, the future of money is going to be digital and sovereign. Nonetheless, the relationship between the various types of money is competitive rather than being the peaceful coexistence that was officially envisaged. CBDC competes with the incumbent bank money as well as with private cryptocurrencies that are challenging both central-bank money as well as bank money. For technological and political reasons, bank money will not be able to emulate the superior properties of sovereign digital tokens. Uncovered and unwarranted cryptocurrencies, too, will not stand the competition in the long run. The shifts in the monetary system are changing the role of central banks in the interplay of monetary, fiscal and private-creditary functions and open up improved options for monetary policy. The book will be of interest to academics, researchers, and policymakers in monetary and financial economics, and digital currencies.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Source of Description
Description based on print version record.
Available in Other Form
MONETARY TURNING POINT.
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Chapter 1: Core points for introduction
Chapter 2: Tree-tier monetary system. Types of money, their creation and circulation
Chapter 3: Dominant money. The bank money regime
Chapter 4: Monetary sovereignty. Bank money as para-sovereign fiat money
Chapter 5: Historical turning points in the composition of the money supply
Chapter 6: Today's recomposition of the money supply
Chapter 7: CBDC System Design Principles
Chapter 8: Central banks and monetary policy under conditions of CBDC.

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