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Cash Use Across Countries and the Demand for Central Bank Digital Currency
Khiaonarong, Tanai - 2019
The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While …-not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference … for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be …
Persistent link: https://www.econbiz.de/10012889147
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Cross-Border Central Bank Digital Currencies, Bank Runs and Capital Flows Volatility
Popescu, Adina - 2022
Central banks around the world are increasingly exploring central bank digital currencies (CBDCs). This paper …
Persistent link: https://www.econbiz.de/10013406748
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Quasi-Fiscal Implications of Central Bank Crisis Interventions
Hooley, John; Khan, Ashraf; Lattie, Claney; Mak, Istvan; … - 2023
We develop a stylized balance sheet framework to help identify ‘quasi-fiscal’ components of central bank crisis interventions and show how sources of fiscal risk are created from both the new claims and how they are funded. Combining central bank balance sheet data with survey evidence from...
Persistent link: https://www.econbiz.de/10014354111
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Central Bank Risk Management, Fintech, and Cybersecurity
Khan, Ashraf; Malaika, Majid - 2022
Based on technical assistance to central banks by the IMF’s Monetary and Capital Markets Department and Information Technology Department, this paper examines fintech and the related area of cybersecurity from the perspective of central bank risk management. The paper draws on findings from...
Persistent link: https://www.econbiz.de/10013305671
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Designing Central Bank Digital Currencies
Agur, Itai - 2020
We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash … convenience of payment instruments dependent on the number of their users. CBDC can be designed with attributes similar to cash or … cash-like CBDC may lead to the disappearance of cash. Then, the optimal CBDC design trades off bank intermediation against …
Persistent link: https://www.econbiz.de/10012843523
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Legal Aspects of Central Bank Digital Currency : Central Bank and Monetary Law Considerations
Bossu, Wouter; Itatani, Masaru; Margulis, Catalina; … - 2021
This paper analyzes the legal foundations of central bank digital currency (CBDC) under central bank and monetary law. Absent strong legal foundations, the issuance of CBDC poses legal, financial and reputational risks for central banks. While the appropriate design of the legal framework will...
Persistent link: https://www.econbiz.de/10013252024
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A Survey of Research on Retail Central Bank Digital Currency
Kiff, John - 2020
This paper examines key considerations around central bank digital currency (CBDC) foruse by the general public, based on a comprehensive review of recent research, centralbank experiments, and ongoing discussions among stakeholders. It looks at the reasonswhy central banks are exploring retail...
Persistent link: https://www.econbiz.de/10012828238
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Falling Use of Cash and Demand for Retail Central Bank Digital Currency
Khiaonarong, Tanai; Humphrey, David - 2022
Cash use in most countries is falling slowly. On the margin, younger adults favor cash substitutes over cash. For older … the demand for cash and why it is falling. Cash use may continue to fall, and card use (the main cash substitute) may fall …
Persistent link: https://www.econbiz.de/10013295132
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Central Bank Digital Currency and Financial Inclusion
Tan, Brandon - 2023
In this paper, we develop a model incorporating the impact of financial inclusion to study the implications of introducing a retail central bank digital currency (CBDC). CBDCs in developing countries (unlike in advanced countries) have the potential to bank large unbanked populations and boost...
Persistent link: https://www.econbiz.de/10014355766
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Monetary Policy Implications Central Bank Digital Currencies : Perspectives on Jurisdictions with Conventional and Islamic Banking Systems
Lukonga, Inutu - 2023
Central bank digital currencies (CBDCs) promise many benefits but, if not well designed, they could have undesired consequences, including for monetary policy. Issuing an unremunerated CBDC or a wholesale CBDC does not change the objectives of monetary policy or the operational framework for...
Persistent link: https://www.econbiz.de/10014355809