looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal …

cut interest rates as much as needed for economic stimulus now is to change from a paper standard to an electronic money … mechanism can be implemented in a minimalist way by using a time-varying paper currency deposit fee between private banks and … electronic money; the paper currency interest rate can be either lowered below zero or raised above zero. Such an ability to vary …

match shifting U.S. monetary policy. This raises the important question of how changes in U.S. monetary policy affect banks … in the GCC. We use bank-level panel data, exploiting variation across banks within countries, to isolate the impact of … changing U.S. interest rates on GCC banks funding costs, asset rates, and profitability. We find stronger pass-through from U …

By combining industry-level data on output and prices with monetary policy rates for a panel of 88 countries, this … paper analyzes how the effects of monetary policy vary with certain industry characteristics. Next to being interesting in … industry-level characteristics). Our results suggest that monetary contractions reduce output by more in industries featuring …

comprehensive framework for sustainable money solutions in support of social assistance. The framework consists of eight building … blocks that may help policymakers i) take stock and assess emergency fixes taken to scale up mobile money in a crisis context …

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers … choice of payment method interesting also imply equilibrium price dispersion. We deliver closed-form solutions for money … data, and money-interest correlations in macro data. We analyze the effects of inflation on welfare, price dispersion and …