Central Bank Digital Currencies (CBDCs) (PDF)

The present book contains five contributions relating to the introduction of Central Bank Digital Currencies (CBDCs), i.e., the digital form of state-issued legal tender. It is the by-product of a Colloquium jointly hosted by the Collegium Helveticum (the joint Institute for Advanced Studies of ETH Zurich, the University of Zurich and the Zurich University of the Arts) and the University of Zurich's Priority Research Program on Financial Market Regulation (URPP FinReg) on 9 May 2023.
The contributions to this book provide an in-depth analysis of the following aspects of CBDCs:
- Global Financial Architecture and Decentralized CBDC Regimes (by Rolf H. Weber),
- The Shift from Private Money into "Unlimited" CBDCs: An Unviable Development or a Chance for Reform and New Opportunities? (by Christian Hofmann),
- A Macroeconomic Perspective on retail CBDC and the Digital Euro (by Dirk Niepelt),
- Central Bank Digital Currencies: Central Bank Money reaches a new frontier (by Chiara Zilioli) and
- The Simple(r) Case for Wholesale Central Bank Digital Currency (by Thomas Moser).
The articles constitute an optimal blend between legal, institutional, and economic aspects on CBDCs by high-quality experts, combining the academic and the central bank perspectives.