This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as … 84 central bank boards at the end of 2003. We find that larger and more heterogeneous countries, countries with stronger …

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While … access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card …

interveners. These estimates indicate that fiscal costs of sustained FX intervention (via expanding central bank balance sheets …

financial stability obligations of central bank reserve managers,this paper offers some reflections along four main lines. First …

. Selling a “strangle” allows a central bank to increase the credibility of its commitment to a target zone, and could have a … lower expected cost than spot market interventions. However, this strategy also exposes the central bank to an unlimited …

We develop a stylized balance sheet framework to help identify ‘quasi-fiscal’ components of central bank crisis … bank balance sheet data with survey evidence from intervention announcements, we document the risks to the public sector … management of fiscal risks from central bank crisis interventions varies greatly across countries, although several good …