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October 2017, Week 4

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Subject:	Reminder: Seminar with Andy Levin Wednesday, November 1, 2017 at 3:30pm (310 Silsby) *PLEASE NOTE START TIME IS 3:30PM*
From:	"Kristine M. Timlake" <[log in to unmask]>
Reply To:	Kristine M. Timlake
Date:	Thu, 26 Oct 2017 11:52:50 +0000
Content-Type:	multipart/alternative
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Andy Levin (Dartmouth Professor of Economics) will present:
"Central Bank Digital Currency and the Future of Monetary Policy"
at 3:30pm on Wednesday, November 1, 2017 in 310 Silsby.

http://www.nber.org/papers/w23711

ABSTRACT:
We consider how a central bank digital currency (CBDC) could transform all aspects of the monetary system and facilitate the systematic and transparent conduct of monetary policy. In particular, we find that CBDC can serve as a practically costless medium of exchange, secure store of value, and stable unit of account. To achieve these criteria, CBDC would be account-based and interest-bearing, and the monetary policy framework would foster true price stability.





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