Recommendations for Further Reading

Journal of Economic Perspectives—Volume 35, Number 4—Fall 2021—Pages 249–255 Timothy Taylor This section will list readings that may be especially useful to teachers of under- graduate economics, as well as other articles that are of broader cultural interest. In general, with occasional exceptions, the articles chosen will be expository or integrative and not focus on original research. If you write or read an appropriate article, please send a copy of the article (and possibly a few sentences describing it) to Timothy Taylor, preferably by e-mail at taylort@macalester.edu, or c/o Journal of Economic Perspectives, Macalester College, 1600 Grand Ave., Saint Paul, MN 55105. Smor Smorgasbor gasbord d The Bank of International Settlements, in its Annual Economic Report 2021 report, devotes a chapter to “CBDCs: an opportunity for the monetary system” (June 2021, https://www.bis.org/publ/arpdf/ar2021e.htm). “Central bank digital currencies (CBDCs) offer in digital form the unique advantages of central bank money: settle- ment finality, liquidity and integrity. They are an advanced representation of money for the digital economy. . . . The ultimate benefits of adopting a new payment tech- nology will depend on the competitive structure of the underlying payment system and data governance arrangements. The same technology that can encourage a virtuous circle of greater access, lower costs and better services might equally induce a vicious circle of data silos, market power and anti-competitive practices. CBDCs ■ ■ T Ti im mo ot thy T hy Ta ay yl lo or i r is M s Ma an na ag gin ing E g Edit dito or r, J , Jo ou ur rn nal o al of E f Ec co on no om mi ic P c Pe er rs sp pe ec ct ti ive ves s, b , ba as se ed a d at M t Ma ac cal ale es st te er r C Co olllle eg ge e, S , Sa ain int P t Pa au ull, M , Min inn ne es so ot ta a. . For supplementary materials such as appendices, datasets, and author disclosure...