In just a few years, central banks have rapidly ramped up their research and development
efforts on central bank digital currencies (CBDCs). A growing body of economic research …

Central bank digital currencies are engendering concern. As understanding of CBDCs is
very limited, further research is warranted which will focus not only on the economic …

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 …

Technological advances in recent years have led to a growing number of fast, electronic
means of payment available to consumers for everyday transactions, raising questions for …

Digitalization is reshaping economic activity, shrinking the role of cash, and spurring new
digital forms of money. Central banks have been pondering wheter and how to adapt. One …

Even before their deployment in major economies, one of the concerns that has been voiced
about central bank digital currency (CBDC) is that it might be too successful and lead to …

Central bank digital currencies (CBDCs) promise many benefits but, if not well designed,
they could have undesired consequences, including for monetary policy. Issuing an …

Central bank digital currencies (CBDCs) are receiving more attention than ever before. Yet
the motivations for issuance vary across countries, as do the policy approaches and …

Motivations for introducing a retail central bank digital currency (CBDC) could range from a
rapid decline in the use of physical cash or financial inclusion strategies to an …

Central banks are increasingly pondering whether to issue their own digital currencies to the
general public, so-called retail central bank digital currency (CBDC). The majority of IMF …