Central bank digital currency: Stability and information

T Keister, C Monnet - Journal of Economic Dynamics and Control, 2022 - Elsevier
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 …

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 …

The economics of central bank digital currency

T Ahnert, K Assenmacher, P Hoffmann, A Leonello… - 2022 - papers.ssrn.com
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 …

[PDF][PDF] The coming battle of digital currencies

LW Cong, S Mayer - The SC Johnson College of Business Applied …, 2022 - aeaweb.org
We model the dynamic competition among national fiat currencies, cryptocurrencies, and
Central Bank Digital Currencies (CBDCs), whereby countries strategically digitize their …

CBDC and the operational framework of monetary policy

J Abad, G Nuño, C Thomas - 2024 - papers.ssrn.com
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 …

A simple model of a central bank digital currency

B Mishra, E Prasad - Journal of Financial Stability, 2024 - Elsevier
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 …

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 …

Central bank digital currencies and banking: Literature review and new questions

J Chapman, J Chiu, SM Davoodalhosseini, JH Jiang… - 2023 - econstor.eu
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 …

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 …

Central bank digital currency and privacy: A randomized survey experiment

S Choi, B Kim, YS Kim, O Kwon - International Economic …, 2023 - Wiley Online Library
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 …