dc.contributor.author | Whited, Toni M. | de |
dc.contributor.author | Wu, Yufeng | de |
dc.contributor.author | Xiao, Kairong | de |
dc.date.accessioned | 2023-10-30T10:33:59Z | |
dc.date.available | 2023-10-30T10:33:59Z | |
dc.date.issued | 2023 | de |
dc.identifier.uri | https://www.ssoar.info/ssoar/handle/document/90145 | |
dc.description.abstract | We estimate a dynamic banking model to quantify the impact of a central bank digital currency (CBDC) on the banking system. Our counterfactuals show that a one-dollar introduction of CBDC replaces bank deposits by around 80 cents on the margin. Bank lending falls by one-fourth of the drop in deposits because banks partially replace lost deposits with wholesale funding. This substitution raises banks’ interest-rate risk exposure and lowers their resilience to negative equity shocks. If CBDC bears interest or is intermediated through banks, it captures a greater deposit market share, amplifying the impact on lending. The effect on lending is amplified for small banks, for which wholesale funding is more expensive. | de |
dc.language | en | de |
dc.subject.ddc | Wirtschaft | de |
dc.subject.ddc | Economics | en |
dc.subject.other | central bank digital currency; banking competition; maturity mismatch; financial stability | de |
dc.title | Will Central Bank Digital Currency Disintermediate Banks? | de |
dc.description.review | begutachtet | de |
dc.description.review | reviewed | en |
dc.source.volume | 47 | de |
dc.publisher.country | AUT | de |
dc.publisher.city | Wien | de |
dc.source.series | IHS Working Paper | |
dc.subject.classoz | Wirtschaftspolitik | de |
dc.subject.classoz | Economic Policy | en |
dc.subject.thesoz | Zentralbank | de |
dc.subject.thesoz | central bank | en |
dc.subject.thesoz | Digitalisierung | de |
dc.subject.thesoz | digitalization | en |
dc.subject.thesoz | Währung | de |
dc.subject.thesoz | currency | en |
dc.subject.thesoz | Währungspolitik | de |
dc.subject.thesoz | currency policy | en |
dc.subject.thesoz | Wettbewerb | de |
dc.subject.thesoz | competition | en |
dc.subject.thesoz | Stabilität | de |
dc.subject.thesoz | stability | en |
dc.subject.thesoz | Kreditvergabe | de |
dc.subject.thesoz | lending | en |
dc.identifier.urn | urn:nbn:de:0168-ssoar-90145-8 | |
dc.rights.licence | Creative Commons - Namensnennung 4.0 | de |
dc.rights.licence | Creative Commons - Attribution 4.0 | en |
ssoar.contributor.institution | IHS (Wien) | de |
internal.status | formal und inhaltlich fertig erschlossen | de |
internal.identifier.thesoz | 10037627 | |
internal.identifier.thesoz | 10063943 | |
internal.identifier.thesoz | 10040827 | |
internal.identifier.thesoz | 10034538 | |
internal.identifier.thesoz | 10047904 | |
internal.identifier.thesoz | 10054888 | |
internal.identifier.thesoz | 10039711 | |
dc.type.stock | monograph | de |
dc.type.document | Arbeitspapier | de |
dc.type.document | working paper | en |
dc.source.pageinfo | 55 | de |
internal.identifier.classoz | 1090302 | |
internal.identifier.document | 3 | |
dc.contributor.corporateeditor | Institut für Höhere Studien (IHS), Wien | |
internal.identifier.corporateeditor | 191 | |
internal.identifier.ddc | 330 | |
dc.description.pubstatus | Veröffentlichungsversion | de |
dc.description.pubstatus | Published Version | en |
internal.identifier.licence | 16 | |
internal.identifier.pubstatus | 1 | |
internal.identifier.review | 2 | |
internal.identifier.series | 1457 | |
internal.pdf.valid | false | |
internal.pdf.wellformed | false | |
internal.pdf.encrypted | false | |