ПОТЕНЦИЈАЛНИ ЕФЕКТИ ЕЛЕКТРОНСКОГ НОВЦА НА МОНЕТАРНУ ПОЛИТИКУ/POTENTIAL EFFECTS OF ELECTRONIC MONEY ON MONETARY POLICY
Abstract
Апстракт
Појава електронског новца постаје неминовност савременог начина пословања. У условима трансформације пословних процеса и њихове миграције на електронске платформе, развој електронских система плаћања јавља се као фактор повећања ефикасности. У раду ће бити речи о могућем утицају електронског новца на новац у оптицају и могућностима монетарне политике. Како до данас не постоји преовлађујући систем електронског новца, рад је фокусиран на могуће ефекте електронског новца у зависности од тога какав би карактер таквог система био. Биће показано на које елементе монетарног система електронски новац може утицати, као и од којих фактора зависи способност монетарне политике да контролише ефекте електронског новца. Рад ће пружити и перспективу даљег развоја електронског новца.
Кључне речи: електронски новац, монетарна политика, монетарни агрегати, сењоража, монетарни мултипликатор
Abstract
The emergence of electronic money is becoming a necessity in modern business. In terms redesign business processes and their migration to the electronic platforms, the development of electronic payment systems is a requirement for increasing efficiency. This paper will discuss the possible impact of e-money on the amount of money in circulation and the ability of monetary policy to absorb it. As the dominant electronic money system still does not exist, the paper is focused on the possible effects of electronic money depending on the nature of such a system. It will be shown which elements of the monetary system may be affected by e-money, as well as the factors that influence the ability of monetary policies to control the effects of electronic money. The paper will give incentives for further development of e-money.
Keywords: electronic money, monetary policy, monetary aggregates, seigniorage, monetary multiplier
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