The positive case for a CBDC

In this paper we discuss the competition and innovation arguments for issuing a central bank digital currency (CBDC). A CBDC could be an effective competition policy tool for payments. On innovation, we argue that a CBDC could be necessary to support the vibrancy of the digital economy by helping solve market failures and fostering competition and innovation in new digital payments markets. Overall, competition and innovation are supporting arguments for issuing a CBDC.

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Year of publication:	2021
Authors:	Usher, Andrew ; Reshidi, Edona ; Rivadeneyra, Francisco ; Hendry, Scott
Publisher:	Ottawa : Bank of Canada
Subject:	Digital currencies and fintech \| Financial institutions \| Financial stability

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Series:	Bank of Canada Staff Discussion Paper ; 2021-11
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	10.34989/sdp-2021-11 [DOI] 1765848121 [GVK] hdl:10419/251024 [Handle] RePEc:bca:bocadp:21-11 [RePEc]
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E58 - Central Banks and Their Policies ; L4 - Antitrust Policy ; L5 - Regulation and Industrial Policy
Source:	EconStor

Persistent link: https://www.econbiz.de/10012888664