Digital Currency May Increase Household Welfare, Lower Volatility but Pose Risks to Banks

Gregory Phelan and William Chen

No 23-06, The OFR Blog from Office of Financial Research, US Department of the Treasury

Abstract: Banking-sector stability may suffer, yet household welfare may improve should a digital currency be fully integrated into the financial system. Keywords: Central bank digital currency, CBDC, volatility, digital assets, stable coins

Date: 2023-03-22
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