Greening Monetary Policy: CBDCs and Community Development Banks

【Author】 Schroeder, Susan K.

【Source】JOURNAL OF ECONOMIC ISSUES

【影响因子】0.854

【Abstract】In the face of an ecological transition, central banks are finding conventional tools to manage the economic conditions are no longer adequate. Conventional tools manage short-term changes in demand, whereas climate change is a long-term phenomenon which will impact supply conditions. This article discusses the re-introduction of developmental monetary policies to provide liquidity to industries critical for social provisioning during an ecological transition. A potential new tool is central bank digital currencies (CBDCs). CBDCs could be lent and/or used to partially capitalize a system of community development banks. The article discusses the logistics and limitations of CBDCs as a developmental tool.

【Keywords】digital currencies; CBDCs; central banks; climate change; monetary policy

【发表时间】2023 3-Apr

【收录时间】2023-07-05

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