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A simple model of a central bank digital currency
Mishra, Bineet; Prasad, Eswar S. - 2023
central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency …, possibilities for tax evasion, and, potentially, nominal rates of return. We establish conditions under which cash and CBDC can co …-exist and show how government policies can in uence relative holdings of cash, CBDC, and other assets. We illustrate how a CBDC …
Persistent link: https://www.econbiz.de/10014280913
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A simple model of a central bank digital currency
Mishra, Bineet; Prasad, Eswar S. - In: Journal of financial stability 73 (2024), pp. 1-17
Persistent link: https://www.econbiz.de/10015081174
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Do we need central bank digital currency? Economics, technology and institutions
Gnan, Ernest (contributor); Masciandaro, Donato (contributor) - 2018
Persistent link: https://www.econbiz.de/10011985213
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Do we need central bank digital currency? : economics, technology and institutions
Gnan, Ernest (ed.); Masciandaro, Donato (ed.) - Do We Need Central Bank Digital Currency?: Economics, …; … - 2018
Persistent link: https://www.econbiz.de/10011944433
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Central bank digital currency: Functional scope, pricing and controls
Bindseil, Ulrich; Panetta, Fabio; Terol, Ignacio - 2021
Even before their deployment in major economies, one of the concerns that has been voiced about central bank digital currency (CBDC) is that it might be too successful and lead to bank disintermediation, which could intensify further in the case of a banking crisis. Some also argue that CBDC...
Persistent link: https://www.econbiz.de/10013331893
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Central bank digital currency : functional scope, pricing and controls
Bindseil, Ulrich; Panetta, Fabio; Terol, Ignacio - 2021
Even before their deployment in major economies, one of the concerns that has been voiced about central bank digital currency (CBDC) is that it might be too successful and lead to bank disintermediation, which could intensify further in the case of a banking crisis. Some also argue that CBDC...
Persistent link: https://www.econbiz.de/10012672329
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From cash to central bank digital currencies and cryptocurrencies : a balancing act between modernity and monetary stability
Belke, Ansgar; Beretta, Edoardo - 2019
The paper explores the precarious balance between modernizing monetary systems by means of digital currencies (either issued by the central bank itself or independently) and safeguarding financial stability as also ensured by tangible payment (and saving) instruments like paper money. Which...
Persistent link: https://www.econbiz.de/10012063969
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A model to think about crypto-assets and central bank digital currency
Seoane, Hernán D. - 2021
This paper introduces digital assets, crypto assets in general, and Central Bank Digital Currency in particular, into an otherwise standard New-Keynesian closed economy model with Financial Frictions. We use this setting to study the impact of a change in preferences towards the use of digital...
Persistent link: https://www.econbiz.de/10014296328
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Central bank digital currency and balance sheet policy
Fraschini, Martina; Somoza, Luciano; Terracciano, Tammaro - 2021
This paper studies a stylized economy in which the central bank can hold either treasuries or risky securities against central bank digital currency (CBDC) deposits. The key mechanism driving the results is the reduction in bank deposits that follows the introduction of a CBDC and its impact on...
Persistent link: https://www.econbiz.de/10012487980
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A model to think about crypto-assets and central bank digital currency
Seoane, Hernán D. - 2021
This paper introduces digital assets, crypto assets in general, and Central Bank Digital Currency in particular, into an otherwise standard New-Keynesian closed economy model with Financial Frictions. We use this setting to study the impact of a change in preferences towards the use of digital...
Persistent link: https://www.econbiz.de/10014293101