The Digital Economy

Here's how central bank digital currencies impact the global economy

A person purchasing an item using digital device.

Physical currency is losing its appeal in the digital age. Image: Unsplash/CardMapr.nl

Toni Ahnert
Affiliate, Banking and Corporate Finance, CEPR
Katrin Assenmacher-Wesche
Head of the Monetary Policy Strategy Division , European Central Bank
Peter Hoffmann
Senior Economist, DG- Research, European Central Bank
Agnese Leonello
Economist, Financial Research Division, European Central Bank
Cyril Monnet
Professor of Economics, University of Bern
Davide Porcellacchia
Economist, European Central Bank
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The Digital Economy

Graphs showing growth in e--commerce and the declining use of cash.
Cash is public money – it is a liability of the central bank and thus perfectly safe. Image: CEPR.

Charts showing the direct and indirect effect of CBDC remuneration on bank fragility.
CBDC design features may also play an important role for financial stability. Image: CEPR.

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The Digital EconomyBlockchainFinancial and Monetary Systems
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