Central Banking, Monetary Policy and the Future of Money

Edited by Guillaume Vallet, Full Professor, Université Grenoble Alpes and Research Fellow, Centre de Recherche en Economie de Grenoble (CREG), France, Sylvio Kappes, Assistant Professor, Federal University of Alagoas, Brazil and Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics

Contents:

Introduction to Central Banking, Monetary Policy and the Future of Money 1
Guillaume Vallet, Sylvio Kappes and Louis-Philippe Rochon
1 Cryptocurrencies and the future of money 23
Matheus R. Grasselli and Alexander Lipton
2 Bitcoin design, theory of money and implications: a Keynesian assessment 57
Matheus Trotta Vianna
3 Cryptocurrencies, Big Techs, central bank digital currencies and the changing role of banks in the payment industry: old wine in new bottles? 76
Léo Malherbe and Matthieu Montalban
4 Is CBDC strengthening the monetary transmission mechanism? 94
Kristóf Lehmann, Zoltán Szalai and Pál Péter Kolozsi
5 CBDC: functional scope, pricing and controls 120
Ulrich Bindseil, Fabio Panetta and Ignacio Terol
6 Money creation and liquid funding needs are compatible 154
Marco Gross and Christoph Siebenbrunner
7 The Swedish e-krona: a means of guaranteeing the possibility of making payments for all 187
Eva Julin
8 Programmable central bank digital currency for monetary circuits of production 209
Andrés Arauz
9 Large-scale currency circuits as anti-crisis mechanism: the Argentine Redes de Trueque 221
Georgina M. Gómez
10 Community-based alternative currencies as drivers of new monetary arrangements 245
Jérôme Blanc and Marie Fare
11 ‘In money we trust’: the issue of confidence in money in the Swiss WIR system 272
Guillaume Vallet

Index 302