We shed light on the demand for a central bank digital currency (CBDC) as a means of payment, based on survey payment …

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 …

We study how the introduction of a central bank-issued digital currency affects interest rates, the level of economic … activity, and welfare in an environment where both central bank money and private bank deposits are used in exchange. Banks in … our model are financially constrained, and the liquidity premium on bank deposits affects the level of aggregate …

We study the macroeconomic effects of central bank digital currency (CBDC) in a dynamic general equilibrium model …. Timing and information frictions create a need for inside (bank deposits) and outside money (CBDC) to finance production. To … steer the quantity of CBDC, the central bank can set the lending and deposit rates for CBDC as well as collateral and …

We analyze policy in a two-tiered monetary system. Noncompetitive banks issue deposits while the central bank issues …

We analyze policy in a two-tiered monetary system. Noncompetitive banks issue deposits while the central bank issues …