Charles M. Kahn
University of Illinois
Charles M. Kahn is Professor Emeritus in the Department of Finance at the University of Illinois. He previously served as the Bailey Memorial Professor and as department chair, as well as co-director of its Office for Banking Research. An authority on banking and financial intermediation, he has been an overseas fellow at Churchill College, Cambridge University; a visiting fellow at the Australian National University; a National Fellow of the Hoover Institution, Stanford University; a Houblon-Norman fellow at the Bank of England; and the Visiting Tan Chin Tuan Professor at the National University of Singapore. A specialist on payment systems and liquidity, he consults regularly for central banks throughout the world and has been a visiting scholar at the Federal Reserve Banks of Atlanta, Chicago, St. Louis and New York.
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Should a central bank take over the provision of e-money, a circulable electronic liability? The authors discuss how e-money technology changes the trade-off between public and private provision, and the trade-off between e-money and a central bank’s…