-optimize their balance sheets in response to the outflow of deposits caused by the substitution of private money with public digital … money. We then present a series of illustrative simulations on the impact of a CBDC on the funding structure and …

by the observation that the money at the core of these systems, central bank money, is injected into the economy on terms …

We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky … chartalist, respectively), the rate of wage inflation depends on either unemployment or the wage-setting policies of the … inflation affects aggregate demand through its impact on the value of assets and debts. Bank rates depend on an endogenous …

This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery … the slowdown and later the weak pace of the recovery – errors made by many other forecasters. At the same time, inflation …

This paper develops a model of the Chinese economy using a DSGE framework that accommodates a banking sector and money …