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Central bank digital currency: Functional scope, pricing and controls
Bindseil, Ulrich; Panetta, Fabio; Terol, Ignacio - 2021
Even before their deployment in major economies, one of the concerns that has been voiced about central bank digital currency (CBDC) is that it might be too successful and lead to bank disintermediation, which could intensify further in the case of a banking crisis. Some also argue that CBDC...
Persistent link: https://www.econbiz.de/10013331893
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A Simple Model of a Central Bank Digital Currency
Mishra, Bineet; Prasad, Eswar - 2023
We develop a general equilibrium model that highlights the trade-offs between physical and digital forms of retail central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency, possibilities for tax evasion, and, potentially,...
Persistent link: https://www.econbiz.de/10014377057
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How far can renminbi internationalization go?
Yongding, Yu - 2014
Since the formal launch of the renminbi trade settlement scheme in 2009, renminbi internationalization has made impressive inroads. The progress in renminbi trade settlement is especially impressive. However, Hong Kong, China's offshore renminbi deposits failed to make significant progress as...
Persistent link: https://www.econbiz.de/10010397319
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Simulating a Multiproduct Barter Exchange Economy
Levy, Daniel; Bergen, Mark - In: Economic Inquiry 31 (1993) 2, pp. 314-321
We describe a multiproduct barter trading experiment in which students exchange real goods in an open market based on their own personal preference. The experiment is designed for simulating a pure exchange market in order to demonstrate the role of money and its functions in real economies by...
Persistent link: https://www.econbiz.de/10012140512
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Ambiguity, ambiguity aversion and stores of value: The case of Argentina
Corso, Eduardo Ariel - In: Cogent Economics & Finance 2 (2014) 1, pp. 2-12
20 years: the dollarization of household financial assets and its bias towards investment real estate as a means of … preserving the real value of wealth. We find that ambiguity explains portfolio dollarization. In addition, ambiguity aversion …
Persistent link: https://www.econbiz.de/10011559136
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Extending the Determinants of Dollarization in Sub-Saharan Africa: The Role of Easy Access to Foreign Exchange Earnings
Raheem, Ibrahim D.; Asongu, Simplice - 2016
level of dollarization in the economy. The three sources of foreign currency earnings are financial integration, trade … openness and natural resource rent. As such, we extend the determinants of dollarization to capture these variables. A dataset … to the increasing rate of dollarization. Specifically, it was found that trade openness and financial liberalization are …
Persistent link: https://www.econbiz.de/10011596369
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Information Asymmetry and Financial Dollarization in Sub-Saharan Africa
Asongu, Simplice; Raheem, Ibrahim D.; Tchamyou, Vanessa S. - 2016
Financial dollarization in Sub-Saharan Africa is the most persistent compared to other regions of the world. This study … complements the existing scant literature on dollarization in Africa by assessing the role of information sharing offices (public … credit registries and private credit bureaus) on financial dollarization in 26 countries of SSA for the period 2001-2012. The …
Persistent link: https://www.econbiz.de/10011596384
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An empirical investigation on dollarization and currency devaluation: A case study of Tanzania
Musoke, Zakia - 2017
preferably USD. This paper's main focus is dollarization and currency devaluation; of which are yet unresolved both theoretically … models to examine the relationship between dollarization and exchange rate. The Autoregressive Conditional Heteroscedasticity … models indicate that dollarization does indeed induce currency depreciation as well as exchange rate volatility. Based on the …
Persistent link: https://www.econbiz.de/10011611158
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Financial dollarization and currency substitution: an empirical study for Bolivia
Dell'Erba, Salvatore; Saldías Zambrana, Martin - 2006
The Bolivian puzzle is high and persistent financial dollarization notwithstanding deep macroeconomic stabilization … and new approaches to explain dollarization in Bolivia. We first assess the currency substitution approach and then assess … the empirical evidence for the financial dollarization approach. The results show that the macroeconomic variables capture …
Persistent link: https://www.econbiz.de/10010264887
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Exchange rate policy in a dollarized economy: A CGE analysis for Bolivia
Schweickert, Rainer; Thiele, Rainer; Wiebelt, Manfred - 2005
effects of exchange rate policy in a highly dollarized economy. Overall, dollarization appears to matter more through real … by the shock. Financial de-dollarization tends to be contractionary in Bolivia but different degrees of financial … dollarization hardly change the real sector effects. As concerns distributional effects, nominal devaluation in no circumstance …
Persistent link: https://www.econbiz.de/10010273172