Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/210678 
Year of Publication: 
2018
Citation: 
[Journal:] Vierteljahrshefte zur Wirtschaftsforschung [ISSN:] 1861-1559 [Volume:] 87 [Issue:] 3 [Publisher:] Duncker & Humblot [Place:] Berlin [Year:] 2018 [Pages:] 65-81
Publisher: 
Duncker & Humblot, Berlin
Abstract: 
In Zeiten von Digitalisierung, Niedrigzinsen und Kryptogeld stehen viele ökonomische Prozesse und insbesondere die Finanzintermediation auf dem Prüfstand. Im vorliegenden Beitrag wird dabei die Rolle der Geldpolitik kritisch mit Blick auf ihre „Ultraexpansivität“ reflektiert und Spekulationsgefahren sowie Risiken der Veränderungen des Geldsystems analysiert. Im Finanzsektor ist entscheidend, wie zukünftige Regulierungen ausgestaltet werden.
Abstract (Translated): 
Money is changing the world. In times of digitization, low interest rates and cryptocurrency, many economic processes and especially financial intermediation are under scrutiny. In this article, the role of monetary policy is critically reflected with regard to its „ultra-expansionism“ and the necessity of further exit steps is discussed. In addition, the financial markets are being changed by the development of cryptocurrency. As a result, the associated risk of speculation poses a threat. In this context, it is also necessary to warn against the path towards a full-money system. After all, banks and savings banks are facing up to these challenges and mastering them. Therefore, it remains crucial to design further regulations with moderation and balance.
Subjects: 
Kryptowährungen
Digitalisierung
Kreditwirtschaft
Geldpolitik
Finanzmarktregulierung
JEL: 
G18
G28
E52
E58
O33
O39
Persistent Identifier of the first edition: 
Document Type: 
Article

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