Kaur, Harpreet; Srivastava, Surbhi; Singh, Shanu - In: Policy Implications on International Financial …, (pp. 237-264). 2025
This chapter investigates the welfare implications of introducing Central Bank Digital Currency (CBDC) in an economy with tax evasion and varying degrees of central bank independence (CBI). The model considers scenarios with and without central bank independence, where the fiscal authority...