The Case for Central Bank Electronic Money and the Non-Case for Central Bank Cryptocurrencies
By Aleksander Berentsen, Fabian Schär. 2018
136 citations recorded by the source corpus.
We characterize various currencies according to their control structure, focusing on cryptocurrencies such as Bitcoin and government-issued fiat money. We then argue that there is a large unmet demand for a liquid asset that allows households and firms to save outside of the private financial sector.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/e62d1c29a4c4b8a0ae17bed5708a88fec5f05976
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Citations in the corpus
- Tiered CBDC and the Financial System (2020, background): “However, as also convincingly argued by Berentsen and Schär (2018), a deposit based CBDC offers simpler solutions to all of these issues.”
- Central bank digital currency and monetary policy (2021, background): “Finally, Berentsen and Schar (2018) argue in favor of central banks issuing CBDC.”
- The technology of retail central bank digital currency (2020, background): “9 These token-based versions are termed “single-cell” CBDC structures in Ali (2018) and “central bank cryptocurrencies” in Berentsen and Schär (2018).”
- Assessing the Impact of Central Bank Digital Currency on Private Banks (2018, background): “We can identify a type ŷ worker that is just indifferent between accessing the banking system or not by finding the income level ŷ that equates (6) and (7), i.”
- Fintech and banking: What do we know? (2019, unknown): “To see why, consider the argument presented by Berentseen and Schar (2018) that is summarized below.”