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Book Cover
Author Arnone, Marco, author

Title Monetary policy, monetary areas, and financial development with electronic money / prepared by Marco Arnone and Luca Bandiera
Published [Washington D.C.] : International Monetary Fund, [2004]
Online access available from:
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Description 1 online resource (42 pages) : illustrations
Series IMF working paper ; WP/04/122
IMF working paper ; WP/04/122
Summary Electronic money (e-money), as a network good, could become an important form of currency in the future. Such a development could affect monetary policy effectiveness. If an increased use of e-money substantially limits the demand for central bank reserves, this limitation would require changes in the central bank operational target and a closer coordination of monetary and fiscal policies. Also, the optimal size of monetary unions would be different. However, the current level of e-money use does not seem to pose a threat to the stability of the financial system. Thus, central banks can successfully implement the objectives of monetary policy
Bibliography Includes bibliographical references
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Electronic funds transfers -- Economic aspects.
Internet banking -- Economic aspects.
Monetary policy.
Monetary unions.
Form Electronic book
Author Bandiera, Luca, author
International Monetary Fund. Monetary and Financial Systems Department, issuing body
ISBN 1451899866