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Design choices for central bank digital currency: policy and technical considerations
Allen, Sarah; Capkun, Srdjan; Eyal, Ittay; Fanti, Giulia; … - 2020
Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs …
Persistent link: https://www.econbiz.de/10012256941
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Financial globalization and economic policies
Kose, M. Ayhan; Prasad, Eswar S.; Rogoff, Kenneth S.; … - 2009
process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable tensions inherent in evaluating the risks and benefits associated with financial globalization. In light of these …
Persistent link: https://www.econbiz.de/10003816538
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Financial development, environmental quality, trade and economic growth : what causes what in MENA countries
Omri, Anis; Daly, Saida; Rault, Christophe; Chaibi, Anissa - 2015
This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between...
Persistent link: https://www.econbiz.de/10010488272
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The gender promotion gap : evidence from central banking
Hospido, Laura; Laeven, Luc; Lamo, Ana - 2019
We examine gender differences in career progression and promotions in central banking, a stereotypical male-dominated occupation, using confidential anonymized personnel data from the European Central Bank (ECB) during the period 2003-2017. A wage gap emerges between men and women within a few...
Persistent link: https://www.econbiz.de/10012003645
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What measure of inflation should a developing country central bank target?
Anand, Rahul; Prasad, Eswar S.; Zhang, Boyang - 2015
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained...
Persistent link: https://www.econbiz.de/10011307888
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Optimal price indices for targeting inflation under incomplete markets
Anand, Rahul; Prasad, Eswar S. - 2010
In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...
Persistent link: https://www.econbiz.de/10008810538
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Committee decision-making under the threat of leaks
Fehrler, Sebastian; Hahn, Volker - 2020
Leaks are pervasive in politics. Hence, many committees that nominally operate under secrecy de facto operate under the threat that information might be passed on to outsiders. We study theoretically and experimentally how this possibility affects the behavior of committee members and the...
Persistent link: https://www.econbiz.de/10012295187
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A simple model of a central bank digital currency
Mishra, Bineet; Prasad, Eswar S. - 2023
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 bank digital currency (CBDC) include transaction efficiency, possibilities for tax evasion, and, potentially,...
Persistent link: https://www.econbiz.de/10014280913
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Migration and globalization : what's in it for developing countries?
Rapoport, Hillel - 2016
This paper reviews a growing literature on migration and globalization, focusing on its relevance for developing and …
Persistent link: https://www.econbiz.de/10011518125
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Globalization, structural change and innovation in emerging economies : the impact on employment and skills
Vivarelli, Marco - 2018
This paper aims to provide a critical overview of the drivers that the relevant theoretical and empirical literature suggests being crucial in dealing with the challenges an emerging country may encounter in its attempts to further catch-up a higher income status, with a particular focus devoted...
Persistent link: https://www.econbiz.de/10011916217