The modern monetary system is comprised of a number of different types of money, many of which are in forms connected with developing information and communications technologies. This category of money is generally referred to as electronic money. This thesis explores whether these new forms of money are in part responsible for the apparently changing abilities of central banks to govern monetary policy. Lastly, I seek to determine whether theorized trends of money toward electronic cash are likely, and if so, what sort of impact they will have on central banks\u27 monetary policy efficacy
