Financial Stability Implications of CBDC
Abstract A Central Bank Digital Currency (CBDC) is a form of digital money that is
denominated in the national unit of account, constitutes a direct liability of the central bank …
denominated in the national unit of account, constitutes a direct liability of the central bank …
[PDF][PDF] Interbank trade: why it's good and how to get it
G Baughman, F Carapella - 2023 - cowles.yale.edu
We provide a theory for the collapse in bank-to-bank trade experienced in the United States
since the 2007-2009 financial crisis and since the onset of a floor system for monetary …
since the 2007-2009 financial crisis and since the onset of a floor system for monetary …
Monetary policy implementation and payment system modernization
J Witmer - 2020 - econstor.eu
24/7 payment settlement may impact the demand for central bank reserves and thus could
have an effect on monetary policy implementation. Using the standard workhorse model of …
have an effect on monetary policy implementation. Using the standard workhorse model of …
[HTML][HTML] Federal Funds Rate Control with Voluntary Reserve Targets
G Baughman, F Carapella - 2019 - federalreserve.gov
Since the financial crisis, the large quantity of reserves created under quantitative easing,
combined with the framework employed by the Federal Reserve to implement monetary …
combined with the framework employed by the Federal Reserve to implement monetary …
A Simple Model of Voluntary Reserve Targets with Tolerance Bands
G Baughman, F Carapella - Journal of Money, Credit and …, 2023 - Wiley Online Library
This paper presents a version of the model of voluntary reserve targets (VRT) developed in
Baughman and Carapella (2020) simplified to have a Walrasian instead of frictional …
Baughman and Carapella (2020) simplified to have a Walrasian instead of frictional …