Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/206404 
Year of Publication: 
2019
Series/Report no.: 
Hohenheim Discussion Papers in Business, Economics and Social Sciences No. 11-2019
Publisher: 
Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften, Stuttgart
Abstract: 
The objective of this discussion paper is to explore the consequences for monetary policy from the establishment of an international digital currency modeled like Libra. For this purpose, a basic assessment of the behavior of economic agents is conducted and possible conflicts with monetary policy are analyzed. Furthermore, a simple approach is developed to estimate the nature and extent of vulnerability for 42 currencies. The results suggest that currencies from developing countries and from developed nations are vulnerable in different ways. In the end, a stronger convergence of central bank policies could result. Thus, the introduction of an international digital currency represents a turning point for monetary policy.
Subjects: 
monetary policy
digital currency
blockchain
effective lower bound
JEL: 
E42
E52
E58
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
961.36 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.