The discussion paper "Digital central bank money: Why is no one daring to take the first step?" by Luzie Thiel and Jochen Michaelis is now available in the "MAGKS Joint Discussion Paper Series in Economics".

In their paper, they examine the question of why no central bank in the industrialized nations has yet introduced central bank digital currency (CBDC), even though they have been conducting intensive research on it for several years. The article provides a brief overview of the current status of the research projects, which features of the CBDC are proving to be particularly critical and the econometric impact. Even if the official tenor of the central banks on all sides is that no decision has yet been made on the "whether", it is implicitly clear that a digital euro will come.