About this document
CBDC: Welfare and Policy Analysis by roycecheng0301 is a document available to read on EtoBox.
The document analyzes the implications of introducing central bank digital currency (CBDC) through a model of banking and payment systems. It argues that while CBDC can enhance welfare by competing with private payment methods and improving the efficiency of safe asset usage, it does not necessarily expand the set of equilibrium allocations. The paper discusses various designs for CBDC and their potential impacts on monetary policy and private banking, highlighting the importance of privacy in transactions.
- Author
- roycecheng0301
- Language
- EN