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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). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...

Persistent link: https://www.econbiz.de/10012256941

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

Home ownership and monetary policy transmission

Koeniger, Winfried; Ramelet, Marc-Antoine - 2018

We present empirical evidence on the heterogeneity in monetary policy transmission across countries with different home ownership rates. We use household-level data together with shocks to the policy rate identified from high-frequency data. We find that housing tenure reacts more strongly to...

Persistent link: https://www.econbiz.de/10011949270

Differences in euro-area household finances and their relevance for monetary-policy transmission

Hintermaier, Thomas; Koeniger, Winfried - 2019

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a financial asset and...

Persistent link: https://www.econbiz.de/10012133482

Sterilization policy with incomplete information: Peru 1995-2000

Rendón, Sílvio - 2020

In this research I investigate what percentage of female sterilizations performed in Peru from 1993 to 2000 were done providing adequate information to their users for a free decision about their adoption. I use data from ENDES/DHS 2000, which contains detailed information about contraceptive...

Persistent link: https://www.econbiz.de/10012315404

Tell me something I don't already know : learning in low and high-inflation settings

Weber, Michael; Candia, Bernardo; Ropele, Tiziano; … - 2023

affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both … households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously … provided information about inflation and monetary policy. We also study the effects of RCTs in countries where inflation has …

Persistent link: https://www.econbiz.de/10014311952

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

The impact of local public services and geographical cost of living differences on poverty estimates

Aaberge, Rolf; Langørgen, Audun; Mogstad, Magne; … - 2008

Despite a broad consensus on the need to take into account the value of public services and geographical cost of living differences when measuring poverty, there is little reliable evidence on how these factors actually affect poverty estimates. Unlike the standard approach in studies of the...

Persistent link: https://www.econbiz.de/10003755513

Real wage inequality

Moretti, Enrico (contributor) - 2008

A large literature has documented a significant increase in the return to college over the past 30 years. This increase is typically measured using nominal wages. I show that from 1980 to 2000, college graduates have increasingly concentrated in metropolitan areas that are characterized by a...

Persistent link: https://www.econbiz.de/10003758957

Lumpy price adjustments : a microeconometric analysis

Dhyne, Emmanuel; Fuss, Catherine; Pesaran, M. Hashem; … - 2007

This paper presents a simple model of state-dependent pricing that allows identification of the relative importance of the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the price's driving variables (extrinsic). Using two data sets...

Persistent link: https://www.econbiz.de/10003595347