Who Should Make Kroner?

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Who Should Make Kroner?

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dc.contributor.author Bjerg, Ole
dc.contributor.author Nielsen, Rasmus Hougaard
dc.date.accessioned 2018-02-19T09:58:24Z
dc.date.available 2018-02-19T09:58:24Z
dc.date.issued 2018-02-19
dc.identifier.uri http://hdl.handle.net/10398/9592
dc.description.abstract This paper is a review of Danmarks Nationalbank's recent analysis of the prospects of implementing a Central Bank Digital Currency (CBDC) in Denmark. We concur with Nationalbanken's conclusion that CBDC does not add efficiency or further functionality to existing payment solutions. We argue, however, that their analysis fails to take into account the potentials for increased financial stability given the fact that CBDC carries no credit risk. We also find that Nationalbanken's dismissal of CBDC on the grounds that it does not provide new monetary policy tools, since interest rates are bound by the fixed exchange rate regime, fails to consider the value of CBDC in the event of a future crisis. Finally, we argue that the Nationalbanken's views may reflect a primary concern with the preservation of the existing banking sector in its current form over and above the needs of the general public. en_US
dc.format.extent 27 en_US
dc.language eng en_US
dc.relation.ispartofseries CBS Working Paper;February 2018
dc.subject.other Central banks en_US
dc.subject.other Money creation en_US
dc.subject.other Digital currency en_US
dc.subject.other Monetary policy en_US
dc.subject.other CBDC en_US
dc.title Who Should Make Kroner? en_US
dc.type wp en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Ledelse, Politik og Filosofi en_US
dc.contributor.departmentshort LPF en_US
dc.contributor.departmentuk Department of Management, Politics and Philosophy en_US
dc.contributor.departmentukshort MPP en_US
dc.publisher.city Frederiksberg en_US
dc.publisher.year 2018 en_US
dc.title.subtitle A Review of Danmarks Nationalbank's Analysis of CBDC en_US


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