Birchler, Urs W. Gnan, Ernest Hedrich, Carl-Christoph Ulbrich, Jens
Year of Publication:
SUERF Conference Proceedings No. 2019/1
The conference will be staged as a court trial in which cash will be accused with three charges: First, cash is an essential part of many kinds of criminal activities; second, it is an inefficient and outdated means of payment; and third, it prevents central banks from implementing optimal monetary policy in times when price stability would require negative interest rates. To spur a lively discussion we intend to develop the conference in a defense and prosecution part, where witness’ are called to elaborate on the charges. Additional presentations will provide a neutral overview of the current situation of the use of cash in the Eurosystem and of ideas to develop a digital cash by central banks.
cash central bank digital currencies cash limit crime corruption financial proceeds money laundering money monetary theory zero lower bound