Describe the evolution of the payments system, in particular the trend towards emoney and a “cashless society”. Discuss and comment on the challenges that e- money poses for central banking and monetary policy.
References to start with:
Mishkin, F., (2016): The Economics of Money, Banking, and Financial Markets, 11th Global Edition, Pearson, chapter 3.
Goodhart, C., (2000): “Can Central Banking Survive the IT Revolution?”, International Finance, Vol. 3 (Issue 2), 189-209.
Palley, T. I., (2001): “The e-money revolution: challenges and implications for monetary policy”, Journal of Post-Keynesian Economics, Vol. 24, 217-233.

 
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