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 up to a degree depend on the design features of the CBDC, some general …

We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash …, CBDC and bank deposits according to their preferences over anonymity and security; and where network effects make the … convenience of payment instruments dependent on the number of their users. CBDC can be designed with attributes similar to cash or …

by more, if CBDC is issued. The extent of this reduction depends on the demand for retail CBDC and the incentives … (primarily transaction fees) that can play a determining role in CBDC adoption and use …

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 … stronger, due to a lack of cash substitutes. As the demand for CBDC is tied to the current level of cash use, we estimate the …

This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based … looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal … CBDC literature by suggesting a structured framework to organize discussions on whether or not to issue CBDC, with an …

central bank digital currencies (CBDC), with a special focus on how loans would be granted in a CBDC world …