Designing Central Banks PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Designing Central Banks PDF full book. Access full book title Designing Central Banks by Heinz Herrmann. Download full books in PDF and EPUB format.
Author: Heinz Herrmann
Publisher: Routledge
ISBN: 1135214360
Category : Business & Economics
Languages : en
Pages : 263
Get Book Here
Book Description
This book looks at independence, how central banks can actually influence their respective economies, goals responsibilities and governance with contributions from such scholars as Anne Sibert and Forrest Capie.
Author: Heinz Herrmann
Publisher: Routledge
ISBN: 1135214360
Category : Business & Economics
Languages : en
Pages : 263
Get Book Here
Book Description
This book looks at independence, how central banks can actually influence their respective economies, goals responsibilities and governance with contributions from such scholars as Anne Sibert and Forrest Capie.
Author: Mr.Itai Agur
Publisher: International Monetary Fund
ISBN: 1513519883
Category : Business & Economics
Languages : en
Pages : 38
Get Book Here
Book Description
We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of payment instruments dependent on the number of their users. CBDC can be designed with attributes similar to cash or deposits, and can be interest-bearing: a CBDC that closely competes with deposits depresses bank credit and output, while a cash-like CBDC may lead to the disappearance of cash. Then, the optimal CBDC design trades off bank intermediation against the social value of maintaining diverse payment instruments. When network effects matter, an interest-bearing CBDC alleviates the central bank's tradeoff.
Author: Davide Debortoli
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Barry J. Eichengreen
Publisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 52
Get Book Here
Book Description
Author: Mr.Tommaso Mancini Griffoli
Publisher: International Monetary Fund
ISBN: 1484384571
Category : Business & Economics
Languages : en
Pages : 39
Get Book Here
Book Description
Digitalization is reshaping economic activity, shrinking the role of cash, and spurring new digital forms of money. Central banks have been pondering wheter and how to adapt. One possibility is central bank digital currency (CBDC)-- a widely accessible digital form of fiat money that could be legal tender. This discussion note proposes a conceptual framework to assess the case for CBDC adoption from the perspective of users and central banks. It discusses possible CBDC designs, and explores potential benefits and costs, with a focus on the impact on monetary policy, financial stability, and integrity. This note also surveys research and pilot studies on CBDC by central banks around the world.
Author: Mr. Dong He
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 37
Get Book Here
Book Description
This fintech note looks at how capital flow measures (CFMs) could be implemented with central bank digital currency (CBDC), and what benefits, risks and complexities could arise. There are several implications of the analysis. First, CBDC ecosystems should generally be designed such that they can accommodate the introduction of CFMs. Second, thanks to the programmability of the payment infrastructure given by the new digital technologies, certain CFMs could likely be implemented more efficiently and effectively with CBDC compared to the traditional system. Third, implementing CFMs requires central banks to collaborate on practices and standards. Finally, CFMs on CBDC need to operate alongside traditional CFMs.
Author: Mr.Bruce J. Summers
Publisher: International Monetary Fund
ISBN: 9781557753861
Category : Business & Economics
Languages : en
Pages : 232
Get Book Here
Book Description
This book makes a practical contribution to increased understanding of payment system design and management and of the relationship between the payment system and monetary policy. The authors of the twelve papers included in the book are central banking experts from around the world who draw on their experiences in providing technical assistance to the central banks of the countries of the former U.S.S.R.
Author: Sylvester C. W. Eijffinger
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
Get Book Here
Book Description
Author: John Cochrane
Publisher: Hoover Press
ISBN: 0817919260
Category : Political Science
Languages : en
Pages : 377
Get Book Here
Book Description
A central bank needs authority and a sphere of independent action. But a central bank cannot become an unelected czar with sweeping, unaccountable discretionary power. How can we balance the central bank's authority and independence with needed accountability and constraints? Drawn from a 2015 Hoover Institution conference, this book features distinguished scholars and policy makers' discussing this and other key questions about the Fed. Going beyond the widely talked about decision of whether to raise interest rates, they focus on a deeper set of questions, including, among others, How should the Fed make decisions? How should the Fed govern its internal decision-making processes? What is the trade-off between greater Fed power and less Fed independence? And how should Congress, from which the Fed ultimately receives its authority, oversee the Fed? The contributors discuss whether central banks can both follow rule-based policy in normal times but then implement a discretionary do-what-it-takes approach to stopping financial crises. They evaluate legislation, recently proposed in the US House and Senate, that would require the Fed to describe its monetary policy rule and, if and when it changed or deviated from its rule, explain the reasons. And they discuss to best ways to structure a committee—like the Federal Open Market Committee, which sets interest rates—to make good decisions, as well as offer historical reflections on the governance of the Fed and much more.
Author: Ole Bjerg
Publisher:
ISBN:
Category :
Languages : en
Pages : 57
Get Book Here
Book Description
The prospect of central banks issuing digital currency (CBDC) immediately raises the question of how this new form of money should co-exist and interact with existing forms of money. This paper evaluates three different scenarios for the implementation of CBDC in terms of their monetary policy implications. In the 'money user scenario' CBDC co-exists with both cash and commercial bank deposits. In the 'money manager scenario' cash is abolished and CBDC co-exists only with commercial bank deposits. And in the 'money maker scenario' commercial bank deposits are abolished and CBDC co-exist only with cash. The evaluation is based on an adaption of the classical international monetary policy trilemma to a domestic monetary system with multiple forms of money. Our proposition is that a monetary system with two competing money creators, the central bank and the commercial banking sector, can simultaneously only pursue two out of the following three policy objectives: Free convertibility between CBDC and bank money, parity between CBDC and bank money, and central bank monetary sovereignty, which is the use of monetary policy for anything else than support for commercial bank credit creation. This means that the decision on the design of a monetary system with CBDC implies a crucial political decision on the priorities of the central bank.
