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  1. A model for central bank digital currencies
    implications for bank funding and monetary policy
    Author: Groß, Jonas; Schiller, Jonathan
    Published: January 13, 2021
    Publisher:  Verein für Socialpolitik, [Köln]

    Central bankers express concerns that central bank digital currencies (CBDCs) might disintermediate commercial banks and facilitate bank runs. We analyze these concerns in a DSGE framework and provide a rationale for the disintermediation of the... more

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    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DSM 13
    Inter-library loan:
    No inter-library loan

     

    Central bankers express concerns that central bank digital currencies (CBDCs) might disintermediate commercial banks and facilitate bank runs. We analyze these concerns in a DSGE framework and provide a rationale for the disintermediation of the banking sector. Our focus is on the central bank's options to counteract the adverse effects of losses in bank funding depending on different CBDC designs. We find that the central bank can stabilize the financial sector by acting as a lender of last resort or by actively governing demand for CBDC.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/242350
    Series: Jahrestagung 2021 / Verein für Socialpolitik ; 32
    Subjects: CBDC; financial stability; monetary policy; disintermediation; DSGE
    Scope: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  2. Should central banks issue digital currency?
    Author: Sanches, Daniel; Keister, Todd
    Published: [2021]
    Publisher:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

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    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 438
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 21, 37 (November 2021)
    Subjects: Monetary policy; public vs. private money; electronic payments; liquidity premium; disintermediation
    Scope: 1 Online-Ressource (circa 51 Seiten), Illustrationen