The New National Currency

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The Rise of Public and Private Digital Money

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1513592033
Total Pages : 33 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis The Rise of Public and Private Digital Money by : International Monetary Fund

Download or read book The Rise of Public and Private Digital Money written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-07-29 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.

The New National Currency

Author : Amasa Walker
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.M/5 ( download)

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Book Synopsis The New National Currency by : Amasa Walker

Download or read book The New National Currency written by Amasa Walker and published by . This book was released on 1863 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Where Does Money Come From?

Author : Josh Ryan-Collins
Publisher :
ISBN 13 : 9781908506542
Total Pages : 186 pages
Book Rating : 4.5/5 (65 download)

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Book Synopsis Where Does Money Come From? by : Josh Ryan-Collins

Download or read book Where Does Money Come From? written by Josh Ryan-Collins and published by . This book was released on 2014-01-31 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.

The Future of Money

Author : Eswar S. Prasad
Publisher : Harvard University Press
ISBN 13 : 0674258444
Total Pages : 497 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis The Future of Money by : Eswar S. Prasad

Download or read book The Future of Money written by Eswar S. Prasad and published by Harvard University Press. This book was released on 2021-09-28 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.

The Rise of Digital Money

Author : Mr.Tobias Adrian
Publisher : International Monetary Fund
ISBN 13 : 1498324908
Total Pages : 20 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Rise of Digital Money by : Mr.Tobias Adrian

Download or read book The Rise of Digital Money written by Mr.Tobias Adrian and published by International Monetary Fund. This book was released on 2019-07-15 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.

Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations

Author : Wouter Bossu
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781513561622
Total Pages : 51 pages
Book Rating : 4.5/5 (616 download)

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Book Synopsis Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations by : Wouter Bossu

Download or read book Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations written by Wouter Bossu and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-11-20 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the legal foundations of central bank digital currency (CBDC) under central bank and monetary law. Absent strong legal foundations, the issuance of CBDC poses legal, financial and reputational risks for central banks. While the appropriate design of the legal framework will up to a degree depend on the design features of the CBDC, some general conclusions can be made. First, most central bank laws do not currently authorize the issuance of CBDC to the general public. Second, from a monetary law perspective, it is not evident that “currency” status can be attributed to CBDC. While the central bank law issue can be solved through rather straithforward law reform, the monetary law issue poses fundmental legal policy challenges.

Parallel Currency Markets in Developing Countries

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451943229
Total Pages : 52 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Parallel Currency Markets in Developing Countries by : International Monetary Fund

Download or read book Parallel Currency Markets in Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-12-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy —including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets— in countries with a sizable parallel market are also examined.

CryptoDad

Author : J. Christopher Giancarlo
Publisher : John Wiley & Sons
ISBN 13 : 111985508X
Total Pages : 431 pages
Book Rating : 4.1/5 (198 download)

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Book Synopsis CryptoDad by : J. Christopher Giancarlo

Download or read book CryptoDad written by J. Christopher Giancarlo and published by John Wiley & Sons. This book was released on 2021-10-26 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insider's account of the rise of digital money and cryptocurrencies Dubbed "CryptoDad" for his impassioned plea to Congress to acknowledge and respect cryptocurrencies as the inevitable product of a fast-growing technological wave and a free marketplace, Chris Giancarlo is considered one of "the most influential individuals in financial regulation." CryptoDad: The Fight for the Future of Money describes Giancarlo’s own reckoning with the future of the global economy—at the intersection of markets, technology, and public policy—and lays out the fight for a Digital Dollar. CryptoDad is Giancarlo's own personal story, detailing his forays into the world of Wall Street to his tenure as the 13th Chairman of the United States Commodity Futures Trading Commission (CFTC), where he pushed for the agency to recognize the digitization of markets. His growing fame as a Twitter presence in this essential debate has given Giancarlo a platform to makes a case for the future of cryptocurrencies as the natural successor to America’s current failing financial market infrastructure. CryptoDad provides readers with: A thorough exploration of digital change and how it affects the lives of everyone in a global economy A revolutionary consideration of regulatory responses to the rapid pace of technological innovation A call to update our aging financial organizations, particularly the infrastructure of money itself, and focus on renewed faith and confidence in free market innovation A foreword by Cameron and Tyler Winklevoss, two of the biggest names in cryptocurrencies CryptoDad argues that the next digital wave will be the coming Internet of Value, where cryptocurrencies will do the Internet of Information did to immaterial things: make them accessible, distributable, and movable instantly across the globe. This book is an ideal introduction to the importance of technology in the marketplace.

The Money Revolution

Author : Anne Boden
Publisher : Kogan Page Publishers
ISBN 13 : 1789660637
Total Pages : 217 pages
Book Rating : 4.7/5 (896 download)

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Book Synopsis The Money Revolution by : Anne Boden

Download or read book The Money Revolution written by Anne Boden and published by Kogan Page Publishers. This book was released on 2019-06-03 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transform the way you think about money in this easy-to-use, jargon-free guide by Anne Boden (CEO of Starling Bank) which busts commonly held financial myths, helping you to get the most of your cash in today's digital world. There's never been a shortage of advice on managing your money, clearing debt, being canny with your cash and getting the best deals. But it can be hard work, and everyone seems to be saying something different. What if you could easily cut through all the rhetoric and noise and everything could be made straightforward? In The Money Revolution, banking entrepreneur, and founder of award winning Starling Bank, Anne Boden shines a spotlight on how we save, spend and invest our money. By adopting a few new behaviours, it's possible to transform your bank balance for the better. The Money Revolution breaks through the traditional thinking about money and what you've always been told you should expect from financial institutions. Sharing the benefits of smart banking, fintech solutions and the advantages of open banking, it covers a range of financial solutions, from savings and investments to pensions, bill payments and travel money. Find out everything you need to know to get the best out of your money every day.

Currency Features for Visually Impaired People

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309051940
Total Pages : 139 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Currency Features for Visually Impaired People by : National Research Council

Download or read book Currency Features for Visually Impaired People written by National Research Council and published by National Academies Press. This book was released on 1995-02-18 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Committee on Currency Features for the Visually Impaired evaluated features that could be incorporated in the production of U.S. banknotes that would enable blind and visually disabled people to more easily determine the denomination of a banknote. This volume describes several features and the assessment methodology used to determine which features could be recommended for inclusion in the short term, which could be recommended for research and possible inclusion in future currency redesigns, and which features were impractical for use in U.S. banknotes. Also included is an outline of the various types of visual disabilities that impair an individual's ability to denominate banknotes. Recommended features and areas of research are described in detail. Banknote and other security document producers, and people interested in addressing needs and opportunities for visually disabled people in the United States will find this book useful.

Virtual Currencies and Beyond

Author : Mr.Dong He
Publisher : International Monetary Fund
ISBN 13 : 149836327X
Total Pages : 42 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Virtual Currencies and Beyond by : Mr.Dong He

Download or read book Virtual Currencies and Beyond written by Mr.Dong He and published by International Monetary Fund. This book was released on 2016-01-20 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but also considerable risks. VCs could raise efficiency and in the long run strengthen financial inclusion. At the same time, VCs could be potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used. National authorities have begun to address these challenges and will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization and cooperation across jurisdictions.

How Global Currencies Work

Author : Barry Eichengreen
Publisher : Princeton University Press
ISBN 13 : 0691191867
Total Pages : 270 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis How Global Currencies Work by : Barry Eichengreen

Download or read book How Global Currencies Work written by Barry Eichengreen and published by Princeton University Press. This book was released on 2019-02-26 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.

The Federal Reserve System Purposes and Functions

Author : Board of Governors of the Federal Reserve System
Publisher :
ISBN 13 : 9780894991967
Total Pages : 0 pages
Book Rating : 4.9/5 (919 download)

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Book Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System

Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Economic Analysis of the Digital Economy

Author : Avi Goldfarb
Publisher : University of Chicago Press
ISBN 13 : 022620684X
Total Pages : 510 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Economic Analysis of the Digital Economy by : Avi Goldfarb

Download or read book Economic Analysis of the Digital Economy written by Avi Goldfarb and published by University of Chicago Press. This book was released on 2015-05-08 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain poorly understood. This volume aims to set the agenda for research in the economics of digitization, with each chapter identifying a promising area of research. "Economics of Digitization "identifies urgent topics with research already underway that warrant further exploration from economists. In addition to the growing importance of digitization itself, digital technologies have some features that suggest that many well-studied economic models may not apply and, indeed, so many aspects of the digital economy throw normal economics in a loop. "Economics of Digitization" will be one of the first to focus on the economic implications of digitization and to bring together leading scholars in the economics of digitization to explore emerging research.

Currency Politics

Author : Jeffry A. Frieden
Publisher : Princeton University Press
ISBN 13 : 1400865344
Total Pages : 318 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Currency Politics by : Jeffry A. Frieden

Download or read book Currency Politics written by Jeffry A. Frieden and published by Princeton University Press. This book was released on 2014-12-28 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.

Cash Use Across Countries and the Demand for Central Bank Digital Currency

Author : Mr.Tanai Khiaonarong
Publisher : International Monetary Fund
ISBN 13 : 1484399609
Total Pages : 43 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Cash Use Across Countries and the Demand for Central Bank Digital Currency by : Mr.Tanai Khiaonarong

Download or read book Cash Use Across Countries and the Demand for Central Bank Digital Currency written by Mr.Tanai Khiaonarong and published by International Monetary Fund. This book was released on 2019-03-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card—not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be stronger, due to a lack of cash substitutes. As the demand for CBDC is tied to the current level of cash use, we estimate the level and trend in cash use for 11 countries using four different measures. A tentative forecast of cash use is also made. After showing that declining cash use is largely associated with demographic change, we tie the level of cash use to the likely demand for CBDC in different countries. In this process, we suggest that one measure of cash use is more useful than the others. If cash is important for monetary policy, payment instrument competition, or as an alternative payment instrument in the event of operational problems with privately supplied payment methods, the introduction of CBDC may best be introduced before cash substitutes become so ubiquitous that the viability of CBDC could be in doubt.

Designing Central Bank Digital Currencies

Author : Mr.Itai Agur
Publisher : International Monetary Fund
ISBN 13 : 1513519883
Total Pages : 38 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Designing Central Bank Digital Currencies by : Mr.Itai Agur

Download or read book Designing Central Bank Digital Currencies written by Mr.Itai Agur and published by International Monetary Fund. This book was released on 2019-11-18 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of payment instruments dependent on the number of their users. CBDC can be designed with attributes similar to cash or deposits, and can be interest-bearing: a CBDC that closely competes with deposits depresses bank credit and output, while a cash-like CBDC may lead to the disappearance of cash. Then, the optimal CBDC design trades off bank intermediation against the social value of maintaining diverse payment instruments. When network effects matter, an interest-bearing CBDC alleviates the central bank's tradeoff.