Central Bank Digital Currency: A Literature Review

Carapella, Francesca; Flemming, Jean

doi:10.17016/2380-7172.2790

Cited by 46 publications

(13 citation statements)

References 13 publications

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“…Expression (13) stipulates that bankers are constrained in their ability to issue liabilities (i.e., deposits and central bank funding). For a given period t, deposits and central bank …nancing cannot exceed total risk-weighted assets.…”

Section: Banksmentioning

confidence: 99%

“…Among the many potential bene…ts CBDCs entail, satisfying the demand for a safe, digital means of payment stands out. The most discussed challenge of issuing a CBDC is the risk of bank disintermediation through deposit substitution (Carapella and Flemming 2020).…”

Section: Introductionmentioning

confidence: 99%

“…f m and f mm denote the …rst and second derivate of f (m t ) with respect to cash holdings, m t , respectively 13. Alternatively, we could have accounted for the technological superiority of CBDC, relative to cash, by allowing for cash and CBDC to weigh di¤erently in the CES aggregator and in the utility function (see, e.g.,Ferrari et al 2020) Feenstra (1986).…”

mentioning

confidence: 99%

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The Optimal Quantity of CBDC in a Bank-Based Economy

et al. 2022

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Section: Banksmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

mentioning

confidence: 99%

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The Optimal Quantity of CBDC in a Bank-Based Economy

et al. 2022

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“…The importance of this review paper is further underpinned by the fact that review papers on CBDC are scarce in the literature. This paper builds on the review of Carapella and Flemming (2020) and Kiff et al (2020) and seeks to delineate the key themes in CBDC research which were not highlighted by Carapella and Flemming (2020) and Kiff et al (2020).…”

Section: Introductionmentioning

confidence: 99%

Central bank digital currency research around the world: a review of literature

Ozili¹

2022

JMLC

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Purpose The purpose of this paper is to gain some insight into central bank digital currency research by reviewing the recent advances in central bank digital currency (CBDC) research in a way that would help researchers, policy makers and practitioners to take a closer look at CBDC. Design/methodology/approach The paper uses a systematic literature review methodology. Findings The review shows a general consensus that a CBDC is a liability of the central bank and it has cash-like attributes. The review also presents the motivation and benefits of issuing a CBDC such as the need to increase financial inclusion, the need to improve the conduct of monetary policy and to foster efficient digital payments. The review also shows that many central banks are researching the potential to issue CBDCs due to its many benefits. However, a number of studies have called for caution against over-optimism about the potential benefits of CBDC due to the limiting nature of CBDC design and its inability to meet multiple competing goals. Suggested areas for future research are identified such as the need to find the optimal CBDC design that meets all competing objectives, the need for empirical evidence on the effect of CBDC on the cost of credit and financial stability, and the need to find a balance between limiting the CBDC holdings of users and allowing users to hold as much CBDC as they want, and there is a need to undertake country-specific and regional case studies of CBDC design. Originality/value This review paper offers new areas for further research in central bank digital currencies.

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“…Notwithstanding a growing CBDCs literature on topics ranging from the underlying technology to their impact on the financial system, many important research questions remain (Carapella and Flemming, 2020). Bibliometric analysis provides a quantitative approach to identify the research questions, influential aspects of the literature, and evolution trends through mathematical and statistical methods.…”

Section: Introductionmentioning

confidence: 99%

Central Bank Digital Currencies: A Bibliometric Analysis

2021

JABE

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Rapid technological advances in electronic money and payment methods entice central banks to consider their role in an ever more digital world. Transformative changes to the financial and monetary system are met with an array of policy responses, including the issuance of central bank digital currencies. This paper examines the trends in the evolution of central bank digital currency literature and identifies the important features of the research area. A bibliometric analysis was used to analyze 77 journal articles on central bank digital currencies published from 2018 to 2020 in Scopus Database. Through performance, cocitation, and co-word analysis of the retrieved literature, we document the main journals, countries, authors, and emerging fields of research in central bank digital currencies.

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Central Bank Digital Currency: A Literature Review

Cited by 46 publications

References 13 publications

The Optimal Quantity of CBDC in a Bank-Based Economy

The Optimal Quantity of CBDC in a Bank-Based Economy

Central bank digital currency research around the world: a review of literature

Central Bank Digital Currencies: A Bibliometric Analysis

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