Frontmatter -- Preface -- Acknowledgments -- Contents -- About the Authors -- Part I: Money and Society -- Chapter 1. A Great Human Invention: The Role of Money in Society -- Chapter 2. Why Some People Have So Much Money and Others Have So Little -- Part II: Central Banks and Global Finance --...

We examine the open-economy implications of the introduction of a central bank digital currency (CBDC). We add a CBDC to the menu of monetary assets available in a standard two-country DSGE model with financial frictions and consider a broad set of alternative technical features in CBDC design....