“Digitales Notenbankgeld – und nun? (CBDC—What Next?),” FuW, 2021

Finanz und Wirtschaft, December 8, 2021. PDF.

  • I draw some conclusions from the CEPR eBook on CBDC, namely:
  • Banks will change, whatever happens to CBDC.
  • The main risk of retail CBDC is not bank disintermediation.
  • CBDC may not be the best option even if it has net benefits.
  • It should be for parliaments and voters, not central banks, to decide about the introduction of CBDC.