文章基本信息

标题：Broadening Narrow Money: Monetary Policy with a Central Bank Digital Currency
本地全文：下载
作者：Jack Meaning ; Ben Dyson ; James Barker 等
期刊名称：International Journal of Central Banking
印刷版ISSN：1815-4654
出版年度：2021
期号：6
语种：English
出版社：IJCB Publications Fulfillment
摘要：This paper discusses central bank digital currency (CBDC) and its potential impact on the monetary transmission mechanism. We first offer a general definition of CBDC which should make the concept accessible to a wide range of economists and policy practitioners.We then investigate how CBDC could affect the various stages of transmission, from markets for central bank money to the real economy. We conclude that monetary policy would be able to operate much as it does now, by varying the price or quantity of central bank money. Transmission may even be strengthened for a given change in policy instruments.