a solution to the monetary trilemma with which the central bank can perform its monetary policy independently of foreign …

policy-oriented approach, this article sheds light on a second public good with enormous practical relevance both for …. While monetary policy constitutes the instrument used to keep prices stable, the availability of optimal monetary objects is …

developments of the distributed ledger technology. Furthermore, this Article builds on the problems affecting stablecoins, focusing … capital formation, payment systems, monetary policy), they are intertwined and are part of the same evolution …

Central Banking and posits some policy considerations to address such risks …

I use a Bayesian vector autoregressive (VAR) model to investigate the impact of monetary and technology shocks on the … euro area stock market in 1987-2005. I find an important role for technology shocks, but not monetary shocks, in explaining … variations in real stock prices. The identification method is flexible enough to study the effects of technology news shocks. The …

the decentralized economic policy tools that influence token design, the author examines the leading token models in a …

This paper analyzes how the determinants of two entrepreneurs’ choice whether to conduct product innovation R …

consequences, including for monetary policy. Issuing an unremunerated CBDC or a wholesale CBDC does not change the objectives of … monetary policy or the operational framework for monetary policy. CBDCs can, however, induce changes in the retail, wholesale … and cross border payments that have negative spillover effects on monetary policy, through their effects on money velocity …

Central Bank Digital Currency (CBDC) has become a major policy interest among global central banks. However, its … evidence of past episodes of financial innovation we explore the hypothetical impact of CBDC based on institutionalist … aren’t fully offset. We also provide some policy implications …