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The Economics of Central Bank Digital Currency
Ahnert, Toni; Assenmacher, Katrin; Hoffmann, Peter; … - 2022
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 motives for the issuance of CBDC. We then study the implications for the financial system and discuss of a number of...
Persistent link: https://www.econbiz.de/10013403003
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Does liquidity regulation impede the liquidity profile of collateral?
Schmidt, Kirsten - 2019
We analyze the pledging behavior of Euro area banks during the introduction of the liquidity coverage ratio (LCR). The …
Persistent link: https://www.econbiz.de/10012142100
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Does Liquidity Regulation Impede the Liquidity Profile of Collateral?
Schmidt, Kirsten - 2019
We analyze the pledging behavior of Euro area banks during the introduction of the liquidity coverage ratio (LCR). The …
Persistent link: https://www.econbiz.de/10012889742
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Shoe-Leather Costs in the Euro Area and the Foreign Demand for Euro Banknotes
Calza, Alessandro - 2015
We estimate the shoe-leather costs of inflation in the euro area using monetary data adjusted for holdings of euro … anticipated inflation. We conclude that, despite the increased circulation of euro banknotes abroad, in the euro area the …
Persistent link: https://www.econbiz.de/10013019615
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Exchange rate volatility and growth in small open economies at the EMU periphery
Schnabl, Gunther - 2007
Since the introduction of the euro in January 1999, exchange rate stability at the periphery of the euro area is …
Persistent link: https://www.econbiz.de/10011604819
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Exchange Rate Volatility and Growth in Small Open Economies at the EMU Periphery
Schnabl, Gunther - 2008
Since the introduction of the euro in January 1999, exchange rate stability at the periphery of the euro area is …
Persistent link: https://www.econbiz.de/10012773503
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A New Optimum Currency Area Index for the Euro Area
Kunovac, Davor; Palenzuela, Diego Rodriguez; Sun, Yiqiao - 2022
We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the … autoregression (VAR) model. We argue that the euro area is more appropriate through the lens of empirical OCA properties when the … relative importance of common symmetric shocks is high, but, at the same time, is not overly dispersed across euro area member …
Persistent link: https://www.econbiz.de/10014076631
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Paying for payments: free payments and optimal interchange fees
Korsgaard, Søren - 2014
Do consumers and merchants use the most efficient payment instruments? I examine how inter- change fees, which are fees paid from merchants' banks to consumers' banks when card transactions take place, influence the choice between cash and payment cards. I show that when consumers do not pay...
Persistent link: https://www.econbiz.de/10011605727
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Credit market disequilibrium in Greece (2003-2011) - a Bayesian approach
Vouldis, Angelos - 2015
Motivated by the linkage between credit and growth in the Greek economy, and the deceleration of credit since the financial crisis, this paper studies the evolution of credit demand and supply in Greece. A disequilibrium model of demand and supply is estimated spanning the period 2003M1-2011M3....
Persistent link: https://www.econbiz.de/10011605850
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Paying for Payments : Free Payments and Optimal Interchange Fees
Korsgaard, Søren - 2014
Do consumers and merchants use the most efficient payment instruments? I examine how inter-change fees, which are fees paid from merchants' banks to consumers' banks when card transactions take place, influence the choice between cash and payment cards. I show that when consumers do not pay...
Persistent link: https://www.econbiz.de/10013054672