This paper evaluates the macroeconomic effects of monetary policy for a central bank digital currency rule with traditional monetary policy in an open environment. We build a dynamic stochastic general equilibrium small open model economy with interest-bearing central bank digital currency...

I explore international monetary policy coordination and its welfare effects under a two-country macroeconomic model with the Zero Lower Bound (ZLB) on nominal interest rates in a floating exchange rate regime. Under the model, I find that monetary policy coordination does not improve total...

This paper studies the impacts of foreign exchange reserves intervention under the economic structures of China that feature capital controls, managed floating exchange rate and partially sterilized intervention. The central bank transacts government bonds to sterilely intervene the foreign...

Cationic substitution is a common material modification strategy. Generally, it follows the principles of radius matching, valency equilibrium and stoichiometric substitution. However, radius-mismatched, nonstoichiometric-ratio ion substitution can achieve unexpected experimental results. Such...

Purpose – The purpose of this paper is to present the design and experiment of a universal space-saving end-effector for multi-task operations. Design/methodology/approach – The universal end-effector is equipped with capture and actuation transmission capabilities with two corresponding...