Macro and Micro Implications of the Introduction of Central Bank Digital Currencies: An Overview

Gerard Mondello, Elena Sinelnikova and Pavel Trunin
Additional contact information
Elena Sinelnikova: Center for the Study of Central Banks, Institute for Applied Economic Studies, RANEPA

No 2020-02, GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France

Abstract: After the emergence and widespread of cryptocurrencies central banks are studying how their own digital currencies may help and favor the monetary policy implementation. There are many challenges to this process both in legal and economic (financial, monetary) areas. The paper studies the potential movement from a two-tier banking system (central bank and banks) to a one-tier banking system in case of CBDCs emission, including the issues of competition and commercial banking profitability. More specific question is the change of the transmission of monetary policy with CBDC emission.

Keywords: CBDC; digital currency; cryptocurrency; monetary policy (search for similar items in EconPapers)
JEL-codes: B53 E42 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2020-02, Revised 2020-03
New Economics Papers: this item is included in nep-cba, nep-hme, nep-mac, nep-mon and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://195.220.190.85/GREDEG-WP-2020-02.pdf Revised version, 2020-03 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gre:wpaper:2020-02

Access Statistics for this paper

More papers in GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France Contact information at EDIRC.
Bibliographic data for series maintained by Patrice Bougette (patrice.bougette@univ-cotedazur.fr).