Central bank digital currency: Stability and information
We study how introducing a central bank digital currency (CBDC) would affect the stability of
the banking system. We present a model that captures a concern commonly raised in policy …
the banking system. We present a model that captures a concern commonly raised in policy …
Central bank digital currency and financial inclusion
BJ Tan - Journal of Macroeconomics, 2024 - Elsevier
This paper develops a model to incorporate the impact of financial inclusion to study the
implications of issuing a CBDC. In a “two-tier” model where banks distribute CBDC, CBDCs …
implications of issuing a CBDC. In a “two-tier” model where banks distribute CBDC, CBDCs …
The economics of central bank digital currency
This paper provides a structured overview of the burgeoning literature on the economics of
CBDC. We document the economic forces that shape the rise of digital money and review …
CBDC. We document the economic forces that shape the rise of digital money and review …
[PDF][PDF] The coming battle of digital currencies
We model the dynamic competition among national fiat currencies, cryptocurrencies, and
Central Bank Digital Currencies (CBDCs), whereby countries strategically digitize their …
Central Bank Digital Currencies (CBDCs), whereby countries strategically digitize their …
CBDC and the operational framework of monetary policy
We analyse the impact of introducing a central bank-issued digital currency (CBDC) on the
operational framework of monetary policy and the macroeconomy as a whole. To this end …
operational framework of monetary policy and the macroeconomy as a whole. To this end …
A simple model of a central bank digital currency
We develop a general equilibrium model that highlights the trade-offs between physical and
digital forms of retail central bank money. The key differences between cash and central …
digital forms of retail central bank money. The key differences between cash and central …
CBDC and the Banking System
S Auer, N Branzoli, G Ferrero, A Ilari… - Jahrbücher für …, 2024 - degruyter.com
This paper examines the potential impact a central bank digital currency (CBDC) on banks'
balance sheets. We first analyze the possible implications of the introduction of a CBDC for …
balance sheets. We first analyze the possible implications of the introduction of a CBDC for …
Central bank digital currencies and banking: Literature review and new questions
We review the nascent but fast-growing literature on central bank digital currencies
(CBDCs), focusing on their potential impacts on private banks. We evaluate these impacts in …
(CBDCs), focusing on their potential impacts on private banks. We evaluate these impacts in …
CBDC and business cycle dynamics in a New Monetarist New Keynesian model
K Assenmacher, L Bitter, A Ristiniemi - 2023 - papers.ssrn.com
To study implications of an interest-bearing CBDC on the economy, we integrate a New
Monetarist-type decentralised market that explicitly accounts for the means-of-exchange …
Monetarist-type decentralised market that explicitly accounts for the means-of-exchange …
Central bank digital currency and privacy: A randomized survey experiment
Privacy protection is among the key features to consider in the design of central bank digital
currency (CBDC). Using a nationally representative sample of over 3,500 participants, we …
currency (CBDC). Using a nationally representative sample of over 3,500 participants, we …