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Bank Competition and Household Privacy in a Digital Payment Monopoly
Agur, Itai - 2023
Lenders can exploit households' payment data to infer their creditworthiness. When households value privacy, they then face a tradeoff between protecting such privacy and credit conditions. We study how the introduction of an informationally more intrusive digital payment vehicle affects...
Persistent link: https://www.econbiz.de/10015059373
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E-Money and Monetary Policy Transmission
Huang, Zixuan - 2024
E-money development has important yet theoretically ambiguous consequences for monetary policy transmission, because nonbank deposit-taking e-money issuers (EMIs) (e.g., mobile network operators) can either complement or substitute banks. Case studies of e-money regulations point to...
Persistent link: https://www.econbiz.de/10015058548
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Some Lessons from Asian E-Money Schemes for the Adoption of Central Bank Digital Currency
Sun, Tao - 2023
This paper synthesizes four lessons from the experiences of six Asian e-money schemes for central banks as they consider adopting central bank digital currency (CBDC): (i) CBDC should embody four attributes: trust, convenience, efficiency, and security; (ii) CBDC service providers can facilitate...
Persistent link: https://www.econbiz.de/10015059363
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Central Bank Digital Currency Adoption: A Two-Sided Model
Tan, Brandon - 2023
For central bank digital currencies (CBDCs) to accomplish their intended objectives, it is necessary for both consumers to use them and for merchants to accept them. This paper develops a dynamic two-sided payments model with both heterogeneous households and merchants/firms to study: (1) The...
Persistent link: https://www.econbiz.de/10015059374
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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/10015059577
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Digital Money and Central Banks Balance Sheet
Armas, Adrian - 2022
Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type...
Persistent link: https://www.econbiz.de/10015060026
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Digital Money and Central Bank Operations
Kahn, Charles - 2022
The rise of new and proposed monetary vehicles, including CBDC, stablecoins, payment service providers etc., are unprecedented. An important question for central banks is the extent to which these innovations upend the role of and implementation of monetary policy. The paper focuses on the...
Persistent link: https://www.econbiz.de/10015060452
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Mobile Internet, Collateral, and Banking
D'Andrea, Angelo - 2024
Combining administrative data on credit, internet penetration and a land reform in Rwanda, this paper shows that the … commercial banks and improves loan terms. These effects are partly due to the role of 3G internet in facilitating the acquisition …'s availability mediates 35% of the overall effect of mobile internet on credit and 80% for collateralized loans …
Persistent link: https://www.econbiz.de/10015058546
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The Information Content of Money in Forecasting Euro Area Inflation
Stavrev, Emil - 2008
This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using...
Persistent link: https://www.econbiz.de/10012677626
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The ECB’s Monetary Analysis Revisited
Berger, Helge - 2008
Contents -- I. Introduction -- II. A Brief Guide Monetary Analysis in the ECB's Strategy and Its Evolution Since 1998 -- III. Survey of the Theoretical Debate -- IV. The Importance of Money for Inflation Forecasts -- V. Disaggregated Monetary Analysis -- VI. How Time Path Dependent Should the...
Persistent link: https://www.econbiz.de/10012682180