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Belke, ABeretta, E (2020). Not the Time for Central Bank Digital Currency. Credit and Capital Markets – Kredit und Kapital, 53(2), 147-158. https://doi.org/10.3790/ccm.53.2.147
Belke, Ansgar Beretta, EdoardoBelke, Ansgar Beretta, Edoardo (2020). "Not the Time for Central Bank Digital Currency" Credit and Capital Markets – Kredit und Kapital, vol. 53no. 2, 2020 pp. 147-158. https://doi.org/10.3790/ccm.53.2.147
Belke, ABeretta, E (2020). Not the Time for Central Bank Digital Currency. Credit and Capital Markets – Kredit und Kapital, Vol. 53 (Issue 2), pp 147-158. https://doi.org/10.3790/ccm.53.2.147

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Not the Time for Central Bank Digital Currency

Why Cash is Still Irreplaceable

Belke, Ansgar | Beretta, Edoardo

Credit and Capital Markets – Kredit und Kapital, Vol. 53 (2020), Iss. 2 : pp. 147–158

1 Citations (CrossRef)

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Article Details

Author Details

Univ.-Prof. Dr. Ansgar Belke, Universität Duisburg-Essen (Campus Essen), Fakultät für Wirtschaftswissenschaften, Lehrstuhl für Volkswirtschaftslehre, insb. Makroökonomik, Universitätsstraße 2, D-45141 Essen

Dr. sc. ec. Dr. rer. pol. Edoardo Beretta, Università della Svizzera italiana (USI), Institute of Economics (IdEP), Via Giuseppe Buffi 13, CH-6900 Lugano

Cited By

  1. Digitaler Euro: Funktionsweise und kritische Würdigung

    Thießen, Friedrich

    Wirtschaftsdienst, Vol. 101 (2021), Iss. 7 P.529

    https://doi.org/10.1007/s10273-021-2960-z [Citations: 0]

References

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  57. Horstmann, U./Mann, G. (2019): “Bargeldverbot: Alles was Sie über die kommende Bargeldabschaffung wissen müssen”, Münchner Verlagsgruppe GmbH: München.  Google Scholar
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  67. Sinn, H.-W. (2014): “The Euro trap: on bursting bubbles, budgets, and beliefs”, Oxford University Press: Oxford.  Google Scholar
  68. Verhage, A. (2011): “The anti money laundering complex and the compliance industry”, Routledge: London and New York.  Google Scholar
  69. World Health Organization (2020): “FACT: The risk of being infected with the new coronavirus by touching coins, banknotes or credit cards and other objects, is very low”, http://twitter.com/WHOWPRO/status/1229947064093593600/photo (accessed on March 3, 2020).  Google Scholar
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Abstract

This short article addresses several important (but less discussed) aspects of the introduction of central bank digital currency that give cause for concern, no matter whether such a currency is intended as a substitute or a complement to cash. It discusses potential effects, such as bank runs and capital flight, and analyzes possible interactions between central bank digital currency and the limits on cash payments that already exist in several European countries. What are the structural characteristics that still make paper money and coins (the only means of payment directly issued by central banks) irreplaceable? These and other issues (including effects of COVID-19 on cash payment limits) are explored through a discursive approach that is simultaneously grounded in rigorous macroeconomic analysis.