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来源类型Working Paper
规范类型报告
DOI10.3386/w29489
来源IDWorking Paper 29489
Central Bank Digital Currencies and The Emerging Markets: The Currency Substitution Challenge
Sebastian Edwards
发表日期2021-11-22
出版年2021
语种英语
摘要In this paper, I discuss the implications for emerging countries of the adoption of central bank digital currencies (CBDCs) in advanced jurisdictions, such as the United States, the United Kingdom, and the Euro Zone. The analysis identifies benefits as well as costs. Among the former, one of the most important is lower costs for migrants’ remittances. Some of the costs of global CBDCs are associated with currency substitution, sudden currency depreciations, and lower seigniorage. At the global level, a smooth rollout of CBDCs in center countries requires international coordination. In addition, emerging countries will benefit from the implementation of stronger macroprudential regulations
主题Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy ; International Economics ; International Finance
URLhttps://www.nber.org/papers/w29489
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/587163
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GB/T 7714
Sebastian Edwards. Central Bank Digital Currencies and The Emerging Markets: The Currency Substitution Challenge. 2021.
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