Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large, focusing on the specific relationship between central banking, monetary policy and the future of money.
The book explores the complexity of the current monetary policy transmission channels and the issue of confidence in money. Scholars examine the specific relationship between central banking, monetary policy and the future of money, with a particular insight on digital and local currencies.
Scholars and students interested in central banking and monetary policy, the digitalization of money and the relationship between central banks and the growth of local currencies will value this timely take on the new realities of central banking.
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Contents:
Introduction to Central Banking, Monetary Policy and the Future of Money 1
Guillaume Vallet, Sylvio Kappes and Louis-Philippe Rochon
1 Cryptocurrencies and the future of money 23
Matheus R. Grasselli and Alexander Lipton
2 Bitcoin design, theory of money and implications: a Keynesian assessment 57
Matheus Trotta Vianna
3 Cryptocurrencies, Big Techs, central bank digital currencies and the changing role of banks in the payment industry: old wine in new bottles? 76
Léo Malherbe and Matthieu Montalban
4 Is CBDC strengthening the monetary transmission mechanism? 94
Kristóf Lehmann, Zoltán Szalai and Pál Péter Kolozsi
5 CBDC: functional scope, pricing and controls 120
Ulrich Bindseil, Fabio Panetta and Ignacio Terol
6 Money creation and liquid funding needs are compatible 154
Marco Gross and Christoph Siebenbrunner
7 The Swedish e-krona: a means of guaranteeing the possibility of making payments for all 187
Eva Julin
8 Programmable central bank digital currency for monetary circuits of production 209
Andrés Arauz
9 Large-scale currency circuits as anti-crisis mechanism: the Argentine Redes de Trueque 221
Georgina M. Gómez
10 Community-based alternative currencies as drivers of new monetary arrangements 245
Jérôme Blanc and Marie Fare
11 ‘In money we trust’: the issue of confidence in money in the Swiss WIR system 272
Guillaume Vallet
Index 302
About the Author
Edited by Guillaume Vallet, Full Professor, Université Grenoble Alpes and Research Fellow, Centre de Recherche en Economie de Grenoble (CREG), France, Sylvio Kappes, Assistant Professor, Federal University of Alagoas, Brazil and Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics
- Dimensions : 6 x 1 x 9.25 inches
