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...The future of money and payment system what role for central banks lecture by agustin carstens general manager bank international settlements princeton university new jersey december introduction economics is back in limelight even five years ago i cannot imagine that a on could have been subject an event like today s theoretically speaking social convention people accept expectation everyone else will do same according to this bare bones definition anything serve as provided it were buys economic parlance equilibrium analysis gives rise theoretical notion currency area consisting users community shown recent paper our host markus brunnermeier his co authors giving further texture economists bankers learned over institutional details matter when comes how durable efficient any arrangement can be define self sustaining not nailing down nitty gritty monetary architecture public goods three developments propelled top policy agenda last few seizing attention observers commentators first wa...