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International Currency Competition | Markus' Academy | Ep. 56
Follow the link for the full summary:
https://markusacademy.substack.com/p/international-currency-competition
Link to sign up for the webinar series:
https://markusacademy.substack.com/
On March 4, 2021, Jean-Pierre Landau joined Markus’ Academy for a lecture on International Currency Competition: The Digital Dimension. Landau is an affiliated Professor of Economics at Sciences Po. A former Deputy Governor of the Banque de France, he has held senior roles at the IMF, World Bank and the EBRD.
Download the slides here.
Highlights:
- Libra was a wake up call for the international monetary community.
- After Libra, there was an explosion in interest in Central Bank Digital Currencies (CBDCs).
- Digitalization may destabilize the equilibrium between private and public money in our societies.
- A triple Governments’ response. In recent years, governments have increased regulation, pushed for CBDCs, and accelerated fast payments. In implementing CBDCs, central banks will have to face tradeoffs — they don’t want to disintermediate the banks but also have to consider a potential loss of privacy for small payments.
- As regards international currency competition, digitalization will potentially increase the use of those currencies that have digitally developed as medium of exchange (China).
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By MarkusAcademyFollow the link for the full summary:
https://markusacademy.substack.com/p/international-currency-competition
Link to sign up for the webinar series:
https://markusacademy.substack.com/
On March 4, 2021, Jean-Pierre Landau joined Markus’ Academy for a lecture on International Currency Competition: The Digital Dimension. Landau is an affiliated Professor of Economics at Sciences Po. A former Deputy Governor of the Banque de France, he has held senior roles at the IMF, World Bank and the EBRD.
Download the slides here.
Highlights:
- Libra was a wake up call for the international monetary community.
- After Libra, there was an explosion in interest in Central Bank Digital Currencies (CBDCs).
- Digitalization may destabilize the equilibrium between private and public money in our societies.
- A triple Governments’ response. In recent years, governments have increased regulation, pushed for CBDCs, and accelerated fast payments. In implementing CBDCs, central banks will have to face tradeoffs — they don’t want to disintermediate the banks but also have to consider a potential loss of privacy for small payments.
- As regards international currency competition, digitalization will potentially increase the use of those currencies that have digitally developed as medium of exchange (China).