E-cash 2.0
Article Abstract:
Digital currencies were seen as an important development in the mid-1990s, and private electronic currencies were seen as able to compete with German marks and US dollars. Issuers have since moved elsewhere, or gone bankrupt, and credit cards are usually used for internet purchases. Electronic money may fare beter as demand develops for alternative methods of payment, especially for low-value purchases. Consumers may take time to move to new forms of payment, but central banks may still be affected by easier miements from one currency to another.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
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Navigators in troubled waters
Article Abstract:
Central banks began to tackle inflation seriously from 1979, and central banks took on a more important role in the economy. Their standing has been strengthened as inflation has fallen. They have tended to focus on consumer price inflation, yet there is also concern about asset-price inflation, and an asset-price bubble can be damaging for the economy when it deflates. This could lead to problems for the world economy as a whole, which would mean that central banks would no longer be seen in such a favorable light.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Monetary metamorphosis
Article Abstract:
Central banking developed in the 20th century and there are 173 central banks in 1999 compared with 18 at the beginning of the 20th century. The US Federal Reserve was set up in 1913 and is still involved in bank supervision, a task generally carried out by a separate agency outside the US. Independent central banks appear to have more success in keeping inflation low, and they are better able to take a longer term view than finance ministers.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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