Results 151 to 160 of about 3,492 (210)

The digital economy, privacy, and CBDC [PDF]

open access: yesSSRN Electronic Journal, 2022
We study a model of financial intermediation, payment choice, and privacy in the digital economy. Cash preserves anonymity but cannot be used for more efficient online transactions. By contrast, bank deposits can be used online but do not preserve anonymity. Banks use the information contained in deposit flows to extract rents from merchants in need of
Ahnert, Toni   +2 more
openaire   +3 more sources

The Positive Case for a CBDC

open access: yes, 2021
Nous discutons des mérites de l’émission d’une monnaie numérique de banque centrale (MNBC) sur les plans de la concurrence et de l’innovation. Une MNBC pourrait être un outil de politique de concurrence efficace pour les paiements, en plus de soutenir le dynamisme de l’économie numérique.
Usher, Andrew   +3 more
openaire   +3 more sources

Money and Banking with Reserves and CBDC

open access: yesThe Journal of Finance, 2022
ABSTRACTWe analyze the role of retail central bank digital currency (CBDC) and reserves when banks exert deposit market power and liquidity transformation entails externalities. Optimal monetary architecture minimizes the social costs of liquidity provision, and optimal monetary policy follows modified Friedman rules.
Niepelt, Dirk
core   +4 more sources
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DLT Options for CBDC

SSRN Electronic Journal, 2022
This paper provides an overview of the distributed ledger technology (DLT) options available to central banks for issuing central bank digital currency (CBDC). We discuss the main requirements that a DLT solution must fulfill and analyze the various structures for implementation offered by DLT - public, permissioned and private - and the implications ...
Guo, Sky, Kreitem, Joseph, Moser, Thomas
openaire   +2 more sources

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