pronounced for banks with a high reliance on deposit funding, compared to other banks. We argue that this pattern can be …

between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms … underlying the relationship between MP and bank stability. It does so by reviewing microeconometric studies from the academic … touchstone. First, it provides a brief overview of the main theoretical channels linking bank stability and the transmission of …

We provide evidence on the estimated effects of digital euro news on bank valuations and lending and find that they … depend on deposit reliance and design features aimed at calibrating the quantity of CBDC. Then, we develop a quantitative … bank intermediation and the economy. Under empirically-relevant assumptions (i.e., central bank collateral requirements and …

heterogeneous beliefs about bank stability that accounts for this evidence. Consumers who are sufficiently pessimistic prefer to … hold cash. In our model, the introduction of a central bank digital currency (CBDC) as a store of value that is superior to … cash leads to bank disintermediation as some depositors opt for switching to CBDC based on their beliefs. While CBDC …

With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary …

these operations. Despite a vast literature on the topic, central bank approaches and practices vary considerably. In this …

dimensionality reduction optimally, given the nature of our dataset which features a large number of dimensions for each bank ('fat …