central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency …, possibilities for tax evasion, and, potentially, nominal rates of return. We establish conditions under which cash and CBDC can co …-exist and show how government policies can in uence relative holdings of cash, CBDC, and other assets. We illustrate how a CBDC …

In this paper, we use a Micro-Macro model to evaluate the effects of a euro's depreciation on the French economy, both … the two models is made using an iterative (or sequential) approach. We find that a 10% euro's depreciation stimulates the …

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …

applies a parametric difference-in-differences approach to assess the real effects of the introduction of the euro on … the initial problems were overcome within one year of the introduction of euro cash …

representative household microdata from 11 Eurozone countries to simulate these policy reforms and to study their effects on the … that not all forms of fiscal integration will improve macroeconomic stability in the Eurozone …

Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour …