The monetary turning point: from bank money to Central Bank Digital Currency (CBDC)
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cham
palgrave macmillan
[2023]
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | xiii, 192 Seiten |
| ISBN: | 9783031239564 |
Staff View
MARC
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| adam_text | Contents 1 Core Points for Introduction 2 Three-Tier Monetary System. Types of Money, Their Creation and Circulation 1 9 Three-Tier Taxonomy of Money Base Level: Central-Bank Money Second Tier: Active and Deactivated Bank Money Third Tier: New Money Surrogates (Money Market Fund Shares, F-money, Stablecoins, Complementary Currencies) 2.5 Base-Level Challengers: Uncovered and Unwarranted Cryptocurrencies and Complementary Currencies References 9 9 15 2.1 2.2 2.3 2.4 3 Dominant Money. The Bank Money Regime 3.1 Dominant Currency and Dominant Money 3.2 Bank Money as Dominant Money. Substantial Loss of Monetary Control 3.3 Monetary Credit and Intermediary Credit. Payment Processing and Financial Intermediation 3.4 The Hemispheres of Finance: GDP Finance and Non-GDP Finance. Consumer Price Inflation and Asset Inflation 3.5 Recurrent Financial Market Failure References 19 28 30 33 33 35 40 43 48 50 v
vi CONTENTS 4 Monetary Sovereignty. Bank Money as Para-Sovereign Fiat Money References 55 Historical Turning Points in the Composition of the Money Supply 5.1 Types of Money in Epochal Rise and Decline 5.2 1660s Until 1840s: Rising Tide of Unregulated Paper Money, Incipient Decline in the Systemic Importance of Sovereign Coin 5.3 1840s Until Around 1910: Rising Tide of National Central-Bank Notes, Ebb Tide for Unregulated Paper Money 68 5.4 Late Nineteenth Century Until Around 2010: Rising Tide of Bank Money, Ebb Tide for Central-Bank Notes and Reserves 70 5.5 Upcoming from the 2020s: Rising Tide of Digital Tokens, in Particular CBDC 73 References 5 6 Today’s Recomposition of the Money Supply 6.1 The Future of Money is Digital 6.2 The Prospects of the Various Types of Money ata Glance 6.3 CBDC Begins Its Ascent 6.4 The Age of Bank Money Has Passed Its Peak 6.5 What Will Be of Central-Bank Reserves ? 6.6 Cash—On Its Way to the Money Museum 6.7 The Outlook for Unbacked Crypto currencies 6.8 Stablecoins as Competitors to Be Taken Seriously References 7 60 63 63 65 74 77 77 85 87 93 99 100 102 106 110 CBDC System Design Principles 117 7.1 What System Architecture for CBDC? 118 7.2 Objectives Pursued and Benefits Expected 120 7.3 Disintermediation, Substitution and the Competitive Coexistence of CBDC and Bank Money 124 7.4 Implications for CBDC Design Principles 126 7.5 Bank Run—A Problem of Bank Money, Not of CBDC. Further Implications for CBDC Design Principles 134 7.6 Putting CBDC into Circulation 138
CONTENTS Coverage for Stablecoins and Other Third-Tier Money Surrogates References vii 7.7 8 Central Banks and Monetary Policy Under Conditions ofCBDC Objectives of Monetary Policy. To Be or Not to Be in Control of Money Creation, Inflation, Interest Rates, Growth and Employment 8.2 Independence of Central Banks—Both from the Government as Well as Banking and Finance 8.3 Reference Variables and Instruments of Responsive Monetary Policies 8.4 Monetary Financing, Neutralisation of National Debt, Helicopter Money 8.5 Problems of Monetary Accounting 8.6 Beyond the False Identityof Money and Credit References 141 146 151 8.1 Index 151 158 165 168 174 179 185 189
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| adam_txt |
Contents 1 Core Points for Introduction 2 Three-Tier Monetary System. Types of Money, Their Creation and Circulation 1 9 Three-Tier Taxonomy of Money Base Level: Central-Bank Money Second Tier: Active and Deactivated Bank Money Third Tier: New Money Surrogates (Money Market Fund Shares, F-money, Stablecoins, Complementary Currencies) 2.5 Base-Level Challengers: Uncovered and Unwarranted Cryptocurrencies and Complementary Currencies References 9 9 15 2.1 2.2 2.3 2.4 3 Dominant Money. The Bank Money Regime 3.1 Dominant Currency and Dominant Money 3.2 Bank Money as Dominant Money. Substantial Loss of Monetary Control 3.3 Monetary Credit and Intermediary Credit. Payment Processing and Financial Intermediation 3.4 The Hemispheres of Finance: GDP Finance and Non-GDP Finance. Consumer Price Inflation and Asset Inflation 3.5 Recurrent Financial Market Failure References 19 28 30 33 33 35 40 43 48 50 v
vi CONTENTS 4 Monetary Sovereignty. Bank Money as Para-Sovereign Fiat Money References 55 Historical Turning Points in the Composition of the Money Supply 5.1 Types of Money in Epochal Rise and Decline 5.2 1660s Until 1840s: Rising Tide of Unregulated Paper Money, Incipient Decline in the Systemic Importance of Sovereign Coin 5.3 1840s Until Around 1910: Rising Tide of National Central-Bank Notes, Ebb Tide for Unregulated Paper Money 68 5.4 Late Nineteenth Century Until Around 2010: Rising Tide of Bank Money, Ebb Tide for Central-Bank Notes and Reserves 70 5.5 Upcoming from the 2020s: Rising Tide of Digital Tokens, in Particular CBDC 73 References 5 6 Today’s Recomposition of the Money Supply 6.1 The Future of Money is Digital 6.2 The Prospects of the Various Types of Money ata Glance 6.3 CBDC Begins Its Ascent 6.4 The Age of Bank Money Has Passed Its Peak 6.5 What Will Be of Central-Bank Reserves'? 6.6 Cash—On Its Way to the Money Museum 6.7 The Outlook for Unbacked Crypto currencies 6.8 Stablecoins as Competitors to Be Taken Seriously References 7 60 63 63 65 74 77 77 85 87 93 99 100 102 106 110 CBDC System Design Principles 117 7.1 What System Architecture for CBDC? 118 7.2 Objectives Pursued and Benefits Expected 120 7.3 Disintermediation, Substitution and the Competitive Coexistence of CBDC and Bank Money 124 7.4 Implications for CBDC Design Principles 126 7.5 Bank Run—A Problem of Bank Money, Not of CBDC. Further Implications for CBDC Design Principles 134 7.6 Putting CBDC into Circulation 138
CONTENTS Coverage for Stablecoins and Other Third-Tier Money Surrogates References vii 7.7 8 Central Banks and Monetary Policy Under Conditions ofCBDC Objectives of Monetary Policy. To Be or Not to Be in Control of Money Creation, Inflation, Interest Rates, Growth and Employment 8.2 Independence of Central Banks—Both from the Government as Well as Banking and Finance 8.3 Reference Variables and Instruments of Responsive Monetary Policies 8.4 Monetary Financing, Neutralisation of National Debt, Helicopter Money 8.5 Problems of Monetary Accounting 8.6 Beyond the False Identityof Money and Credit References 141 146 151 8.1 Index 151 158 165 168 174 179 185 189 |
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| discipline | Wirtschaftswissenschaften |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T21:43:39Z |
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| isbn | 9783031239564 |
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| spelling | Huber, Joseph 1948- Verfasser (DE-588)12911944X aut The monetary turning point from bank money to Central Bank Digital Currency (CBDC) Joseph Huber Cham palgrave macmillan [2023] xiii, 192 Seiten txt rdacontent n rdamedia nc rdacarrier Financial Services Macroeconomics and Monetary Economics Financial Technology and Innovation Financial services industry Macroeconomics Financial engineering Erscheint auch als Online-Ausgabe 978-3-031-23957-1 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=034133242&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Huber, Joseph 1948- The monetary turning point from bank money to Central Bank Digital Currency (CBDC) Financial Services Macroeconomics and Monetary Economics Financial Technology and Innovation Financial services industry Macroeconomics Financial engineering |
| title | The monetary turning point from bank money to Central Bank Digital Currency (CBDC) |
| title_auth | The monetary turning point from bank money to Central Bank Digital Currency (CBDC) |
| title_exact_search | The monetary turning point from bank money to Central Bank Digital Currency (CBDC) |
| title_exact_search_txtP | The monetary turning point from bank money to Central Bank Digital Currency (CBDC) |
| title_full | The monetary turning point from bank money to Central Bank Digital Currency (CBDC) Joseph Huber |
| title_fullStr | The monetary turning point from bank money to Central Bank Digital Currency (CBDC) Joseph Huber |
| title_full_unstemmed | The monetary turning point from bank money to Central Bank Digital Currency (CBDC) Joseph Huber |
| title_short | The monetary turning point |
| title_sort | the monetary turning point from bank money to central bank digital currency cbdc |
| title_sub | from bank money to Central Bank Digital Currency (CBDC) |
| topic | Financial Services Macroeconomics and Monetary Economics Financial Technology and Innovation Financial services industry Macroeconomics Financial engineering |
| topic_facet | Financial Services Macroeconomics and Monetary Economics Financial Technology and Innovation Financial services industry Macroeconomics Financial engineering |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=034133242&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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