Język Polski
English
Published
:
2014-10-30
Virtual Currency Schemes and Monetary Policy Conduct
Alicja Mikołajewicz-Woźniak
Abstract
This article indicates the necessity of taking virtual currency schemes into consideration while planning actions undertaken during the implementation of monetary policy. It defines virtual currency schemes and specifies those relevant to monetary authorities. The presented characteristics of operating systems concentrate on limited possibilities for controlling them. Determining the interaction between virtual currencies and the real economy creates the basis for further analysis. The article examines the impact of virtual currency market growth on the quantity of money, the velocity of money, the use of cash, distortion of information derived from monetary aggregates, and the central banks' reputation. This enables determining the potential impact of virtual currencies on the effectiveness of monetary policy.(original abstract)Keywords:
Monetary policy, Bitcoin, Virtual currencyDetails
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Citation rules
Mikołajewicz-Woźniak, A. (2014). Virtual Currency Schemes and Monetary Policy Conduct. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 56(5). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/1105