Latzer, Michael; Chapie, Forrest; Saurwein, Florian; Schmitz, Stefan; Tsomocos, Dimitrios et al. [..] (2005) Institutional Change in the Payment Systems by Electronic Money Innovations. Institut für Technikfolgen-Abschätzung: Wien; im Auftrag von: OeNB Jubliäumsfonds.
The results can be summarised in the following manner: First, by whatever mode of analysis used, it emerged that fiat CB money would not be wholly replaced by any form of electronic money currently envisaged. Most of the payment innovations are linked to CB money at some point. There is no evidence that they significantly reduce the ability of CBs to predict the demand for CB money in LVPS and the money market. Second, developments which have in the past, and may in the future, have improved or will improve the robustness or the efficiency of payments systems have not had and are not expected to have fundamentally damaging effects on the ability of central banks to control monetary conditions.
Publication type:
project report
Publication language:
English
Publication date:
2005-01
Publication URL:
http://epub.oeaw.ac.at/ita/ita-projektberichte/d2-2a42.pdf
Institute:
Institute of Technology Assessment (ITA)
Country:
Austria
Project:
Electronic Money: Institutional Change in the Payments System through Electronic Money and Innovations in Interbank Payments Systems: Implications for Monetary Policy in the Euro-zone, the UK and the USA (ITA)

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