Monetary Policy, Monetary Areas, and Financial Development with Electronic Money [electronic resource] Arnone, Marco. - Franklin
Monetary Policy, Monetary Areas, and Financial Development with Electronic Money [electronic resource] Arnone, Marco.
Arnone, Marco.
Cash cards. (search)
Clearinghouses. (search)
Counterpart. (search)
International monetary arrangements. (search)
Monetary area. (search)
Monetary areas. (search)
Monetary operations. (search)
Monetary systems. (search)
Monetary unions. (search)
Monetary value. (search)
Prices. (search)
Purchases. (search)
Queuing. (search)
Rtgs. (search)
Seigniorage. (search)
Substitution. (search)
Systemic risk. (search)
Tight monetary policy. (search)
Honduras. (search)
Slovak Republic. (search)
Taiwan Province of China. (search)
Electronic money (e-money), as a network good, could become an important form of currency in the future. Such a development could affect monetary policy effectiveness. If an increased use of e-money substantially limits the demand for central bank reserves, this limitation would require changes in the central bank operational target and a closer coordination of monetary and fiscal policies. Also, the optimal size of monetary unions would be different. However, the current level of e-money use does not seem to pose a threat to the stability of the financial system. Thus, central banks can successfully implement the objectives of monetary policy.
Bandiera, Luca.