The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These …

dimensionality reduction optimally, given the nature of our dataset which features a large number of dimensions for each bank ('fat …

between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms … underlying the relationship between MP and bank stability. It does so by reviewing microeconometric studies from the academic … touchstone. First, it provides a brief overview of the main theoretical channels linking bank stability and the transmission of …

We provide evidence on the estimated effects of digital euro news on bank valuations and lending and find that they … bank intermediation and the economy. Under empirically-relevant assumptions (i.e., central bank collateral requirements and … through an expansion of the central bank balance sheet and profits. The issuance of CBDC exerts a smoothing effect on lending …

heterogeneous beliefs about bank stability that accounts for this evidence. Consumers who are sufficiently pessimistic prefer to … hold cash. In our model, the introduction of a central bank digital currency (CBDC) as a store of value that is superior to … cash leads to bank disintermediation as some depositors opt for switching to CBDC based on their beliefs. While CBDC …