As central banks around the world prepare to launch central bank digital currencies (CBDCs), this paper looks at issues surrounding a retail version of CBDCs that would complement notes and coins for consumers.

In this paper, the author revisits the 1918-20 pandemic and ask whether it led to a reversal in the rise of trade and financial globalisation that preceded it.

Central banks are turning their attention toward central bank digital currency (CBDC) to replace coins and bills and to provide other types of services through digital technology. This paper explores the forces that will affect the implementation of a CBDC.