A carregar...
Publicação
Central bank digital currency, bank disintermediation, and financial crises
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 300.28 KB | Adobe PDF |
Orientador(es)
Resumo(s)
The development of a Central Bank Digital Currency (CBDC) raises concerns about
potential bank disintermediation. Especially during financial crises, pessimistic consumers
may shift from bank deposits to cash that as a safer store of value. The introduction of
a CBDC, viewed as a superior substitute for cash, could amplify this effect. Using the
Diamond-Dybvig model with public money as a store of value and a Beta distribution to
capture belief dispersion during crises, this thesis analyzes how consumer beliefs drive disintermediation and its implications for financial stability, monetary policy, and the banking
sector.
Descrição
Palavras-chave
Financial crisis Central Bank Cash Central Bank Digital Currency Bank disintermediation