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Persistent link: https://www.econbiz.de/10011719692
apply the equivalence result to the "Chicago Plan", cryptocurrencies, the Indian de-monetization experiment, and Central …
Persistent link: https://www.econbiz.de/10012023699
Persistent link: https://www.econbiz.de/10011944433
apply the equivalence result to the "Chicago Plan," cryptocurrencies, the Indian de-monetization experiment, and Central …
Persistent link: https://www.econbiz.de/10012018903
Persistent link: https://www.econbiz.de/10012033595
banking and the abolition of cash I propose an equivalence result according to which a marginal substitution of outside for …) incentives for equivalence and argue that these conditions likely are violated, implying that RFA would change macroeconomic …
Persistent link: https://www.econbiz.de/10011884338
banking and the abolition of cash I propose an equivalence result according to which a marginal substitution of outside for …) incentives for equivalence and argue that these conditions likely are violated, implying that RFA would change macroeconomic …
Persistent link: https://www.econbiz.de/10011889522
banking and the abolition of cash I propose an equivalence result according to which a marginal substitution of outside for …) incentives for equivalence and argue that these conditions likely are violated, implying that RFA would change macroeconomic …
Persistent link: https://www.econbiz.de/10011890522
We analyze policy in a two-tiered monetary system. Noncompetitive banks issue deposits while the central bank issues reserves and a retail CBDC. Monies differ with respect to operating costs and liquidity. We map the framework into a baseline business cycle model with “pseudo wedges” and...
Persistent link: https://www.econbiz.de/10012318352
We analyze policy in a two-tiered monetary system. Noncompetitive banks issue deposits while the central bank issues reserves and a retail CBDC. Monies differ with respect to operating costs and liquidity. We map the framework into a baseline business cycle model with "pseudo wedges" and derive...
Persistent link: https://www.econbiz.de/10012318684