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Cash use across countries and the demand for central bank digital currency

Tanai Khiaonarong; Humphrey, David B. - 2019

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card-not better. Demand for digital currency will thus be weak...

Persistent link: https://www.econbiz.de/10012009449

Fintech and payments regulation : analytical framework

Tanai Khiaonarong; Goh, Terry - 2020

Financial technology (Fintech) has prompted authorities to consider their potential financial stability benefits, risks, and effective regulation. Recent developments suggest that regulatory approaches and their legal foundations need to augment entity-based regulation with increasing focus on...

Persistent link: https://www.econbiz.de/10012251408

China's monetary policy communication : frameworks, impact, and recommendations

McMahon, Michael; Schipke, Alfred; Li, Xiang - 2018

Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of effective monetary policy communication will only increase as China continues to liberalize its financial system and open its economy. This paper discusses the country's unique...

Persistent link: https://www.econbiz.de/10011978360

Trade uncertainty and investment in the euro area

Ebeke, Christian; Siminitz, Jesse - 2018

We analyze the impact of trade policy uncertainty on investment in the euro area. Our identification strategy assumes … respect to trade uncertainty. We find that the investment-to-GDP ratio is on average 0.8 percentage points lower for five … quarters following a one standard deviation increase in the level of trade uncertainty. We demonstrate that these results are …

Persistent link: https://www.econbiz.de/10011978678

Monetary Policy Coordination and the Role of Central Banks

Mohan, Rakesh - 2014

The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from...

Persistent link: https://www.econbiz.de/10014411211

Central Bank Financial Strength in Central America and the Dominican Republic

Swiston, Andrew - 2014

This paper examines the financial strength of central banks in Central America and the Dominican Republic (CADR). Some central banks are working off the effects of intervention in distressed financial institutions during the 1990’s and early 2000’s. Their net income has improved since then...

Persistent link: https://www.econbiz.de/10014411323

Inflation Reports and Models : How Well Do Central Banks Really Write?

Bulíř, Aleš - 2014

We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation factors reported by the central banks with ex-post...

Persistent link: https://www.econbiz.de/10014411339

Bank of Japan'S Monetary Easing Measures : Are they Powerful and Comprehensive?

Lam, Raphael W. - 2011

With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary easing measures since late 2009 in response to lingering deflation and a weakening economy. These measures culminated in a new Asset Purchase Program under the Comprehensive Monetary...

Persistent link: https://www.econbiz.de/10014412167

Can Emerging Market Central Banks Bail Out Banks? : A Cautionary Tale From Latin America

Jacome H., Luis I. - 2011

This paper investigates whether developing and emerging market countries can implement monetary policies similar to those used by advanced countries during the recent global crisis - injecting significant amounts of money into the financial system without facing major short-run adverse...

Persistent link: https://www.econbiz.de/10014412168

The International Monetary System : Where Are We and Where Do We Need to Go?

Mohan, Rakesh - 2013

The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial...

Persistent link: https://www.econbiz.de/10014394532