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来源类型Working Paper
规范类型报告
DOI10.3386/w29171
来源IDWorking Paper 29171
Central Bank Digital Currency in Historical Perspective: Another Crossroad in Monetary History
Michael D. Bordo
发表日期2021-08-23
出版年2021
语种英语
摘要Digitalization of Money is a crossroad in monetary history. Advances in technology has led to the development of new forms of money: virtual (crypto) currencies like bitcoin; stable coins like libra/diem; and central bank digital currencies (CBDC) like the Bahamian sand dollar. These innovations in money and finance have resonance to earlier shifts in monetary history: 1) The shift in the eighteenth and nineteenth century from commodity money (gold and silver coins) to convertible fiduciary money and inconvertible fiat money; 2) the shift in the nineteenth and twentieth centuries from central bank notes to a central bank monopoly; 3) Then evolution since the seventeenth century of central banks and the tools of monetary policy.
主题Macroeconomics ; Money and Interest Rates ; Monetary Policy
URLhttps://www.nber.org/papers/w29171
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586843
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Michael D. Bordo. Central Bank Digital Currency in Historical Perspective: Another Crossroad in Monetary History. 2021.
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