E41 - Demand for Money

• Central Bank Digital Currencies: A Framework for Assessing Why and How

  Staff Discussion Paper 2016-22 Ben Fung, Hanna Halaburda

  Digital currencies have attracted strong interest in recent years and have the potential to become widely adopted for use in making payments. Public authorities and central banks around the world are closely monitoring developments in digital currencies and studying their implications for the economy, the financial system and central banks.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Digital currencies and fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42

• A Bitcoin Standard: Lessons from the Gold Standard

  Staff Working Paper 2016-14 Warren E. Weber

  This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange that would exist under the Bitcoin standard.

  Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Exchange rates, Financial services, Inflation and prices JEL Code(s): E, E4, E41, E42, E5, E58