Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment
Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment
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Publisher
Chicago: The University of Chicago Press
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Language
English
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Chicago: The University of Chicago Press
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Contents
This paper develops a micro-founded general equilibrium model of payments to study the impact of a central bank digital currency (CBDC) on intermediation of private banks. If banks have market power in the deposit market, a CBDC can enhance competition, raising the deposit rate, expanding intermediation, and increasing output. A calibration to the...
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Full title
Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment
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TN_cdi_uchicagopress_journals_722517
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_uchicagopress_journals_722517
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ISSN
0022-3808
E-ISSN
1537-534X
DOI
10.1086/722517
