Similar Search Results

Central Bank Digital Currency - Financial System Implications and Control

Bindseil, Ulrich - 2019

IT progress and its application to the financial industry have inspired central banks and academics to reflect about the merits of central bank digital currencies (CBDC) accessible to the broad public. This paper first briefly recalls the advantages that have been associated with CBDC and...

Persistent link: https://www.econbiz.de/10012870904

Central Bank Digital Currency : One, Two or None?

Pfister, Christian - 2019

innovation and to lower transactions costs using a blockchain. The motives for issuing a RCBDC could be to supply the public with … bank money (banknotes and reserves). A WCBDC would have to be issued on a permissioned rather than a public blockchain. It … would also have to be remunerated to keep reserves and the WCBDC at par. A RCBDC would not necessarily use the blockchain …

Persistent link: https://www.econbiz.de/10012861120

The Cryptocurrency Frontier in Monetary Engineering

Ametrano, Ferdinando M. - 2020

Bitcoin is a scarce digital asset: more of a cryptocommodity than a cryptocurrency, it represents the equivalent of digital gold. It is used as money, as gold has always been, but it is not a good unit of account: extreme deflationary price instability has hampered its usability, making it...

Persistent link: https://www.econbiz.de/10012856500

Revisiting the monetary sovereignty rationale for CBDCs

Brooks, Skylar - 2021

As currently articulated, the monetary sovereignty argument for central bank digital currencies (CBDCs) rests on the idea that without them, private and foreign digital monies could displace domestic currencies (a process called currency substitution), threatening the central bank's monetary...

Persistent link: https://www.econbiz.de/10012797485

The Economics of Central Bank Digital Currency

Ahnert, Toni; Assenmacher, Katrin; Hoffmann, Peter; … - 2022

This paper provides a structured overview of the burgeoning literature on the economics of CBDC. We document the economic forces that shape the rise of digital money and review motives for the issuance of CBDC. We then study the implications for the financial system and discuss of a number of...

Persistent link: https://www.econbiz.de/10013403003

Optimal Central Bank Digital Currency (CBDC) Design for Emerging Economies

Syarifuddin, Ferry - 2023

This study uses meta-SWOT analysis to asses the internal strength and weaknesses, as well as the external opportunities and threats, followed by the determination of most optimal CBDC design in emerging economies. In analyzing internal aspects, CBDC allows us to have an efficient payment system,...

Persistent link: https://www.econbiz.de/10014258427

Design of a rule based monetary policy in a Central Bank Digital Currency System

Wijngaard, Jacob; Hee, Kees van - In: Central European review of economics and management : CEREM 5 (2021) 4, pp. 61-95

Aim: This paper presupposes a purely Central Bank Digital Currency (CBDC) based system. Its aim is to describe how such a system facilitates complete new possibilities to design a suitable monetary policy. More specifically, the purpose is to show that the available monetary tools can be used to...

Persistent link: https://www.econbiz.de/10013202350

Do we need central bank digital currency? Economics, technology and institutions

Gnan, Ernest (contributor); Masciandaro, Donato (contributor) - 2018

Persistent link: https://www.econbiz.de/10011985213

Digital currencies in financial networks

Castrén, Olli; Kavonius, Ilja Kristian; Rancan, Michela - 2020

We introduce a digital currency, either as a central bank digital currency (CBDC) or a financial crypto asset (stablecoin), in the network of financial accounts. Simulating a shift of deposits by both households and non-financial corporations from the banking sector to the digital currency, we...

Persistent link: https://www.econbiz.de/10012241146

Designing central bank digital currencies

Agur, Itai; Ari, Anil; Dell'Ariccia, Giovanni - 2019

We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC, and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of a payment instrument depend on the number of...

Persistent link: https://www.econbiz.de/10012137068