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 …

Purpose The purpose of this paper is to gain some insight into central bank digital currency
research by reviewing the recent advances in central bank digital currency (CBDC) research …

We study the macroeconomic consequences of issuing central bank digital currency (CBDC)-
a universally-accessible and interest-bearing central bank liability that competes with bank …

The optimal design of a central bank digital currency (CBDC) is analyzed in an environment
where agents sort into cash, CBDC, and bank deposits according to their preferences over …

The intersection of finance and technology, known as fintech, has resulted in the dramatic
growth of innovations and has changed the entire financial landscape. While fintech has a …

The introduction of a central bank digital currency (CBDC) allows the central bank to engage
in large-scale intermediation by competing with private financial intermediaries for deposits …

We study how introducing a central bank digital currency affects equilibrium allocations and
welfare in an environment where both currency and bank deposits are used in exchange …

We show that the estimated effect of digital euro news on bank stock valuations and lending
depends on the bank's deposit reliance and the central bank digital currency (CBDC) design …

We study how introducing a central bank digital currency (CBDC) would affect the stability of
the banking system. We present a model that captures a concern commonly raised in policy …

Many central banks are contemplating whether to issue a central bank digital currency
(CBDC). A CBDC has certain potential benefits, including the possibility that it can bear …