Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/205241
Authors: 
Groß, Jonas
Herz, Bernhard
Schiller, Jonathan
Year of Publication: 
2019
Series/Report no.: 
Wirtschaftswissenschaftliche Diskussionspapiere No. 02-19
Abstract: 
The announcement of the Libra Association to issue a private global currency has triggered a heated debate about the concomitantadvantages and risks. Proponents expectLibra to unfetter money from its "governmental chains" and liberalize and cheapen monetary transactions around the globe. Opponents argue that a private currency imposes unforeseeable risks forboth individualsand the whole financial system. Furthermore, Libra could hamper monetary policies of national central banks. This paper contributes to the debate in two ways. First, we offer a comprehensive overview of the concept of Libra and its possible benefits and downsides to analyze its market potential. Second, we discuss potential implications that a private currency as Libra poses for monetary policy and financial regulation.
Subjects: 
Libra
Cryptocurrency
Monetary Policy
Currency Regime
JEL: 
E42
E52
G28
Document Type: 
Working Paper

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