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A Brief Note on Bank Circulation Credit and Time Preference
The issuance of fiat money through bank circulation credit raises peoples’ time preference. This is a theoretically important aspect in the ABCT: It...
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Credit diversification and banking systemic risk
Banks generally enhance their competitiveness through credit diversification. However, credit diversification may trigger serious systemic risk...
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The impact of central bank digital currency on monetary policy effectiveness
The emergence of central bank digital currency (CBDC) is a historic event in the transformation of traditional legal monetary forms. Its issuance and...
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Retail CBDC purposes and risk transfers to the central bank
The issuance of retail central bank digital currency (CBDC) involves a transfer of risk from commercial banks to the central bank. Mechanisms that...
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Credit and Banking
Learn the fundamentals of credit.
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Fueling the Flames: The Expansion of Credit
Speculative manias gain momentum through the expansion of credit. Most increases in the supply of credit do not lead to a mania, but nearly every...
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Central bank digital currency, loan supply, and bank failure risk: a microeconomic approach
Central bank digital currencies (CBDCs), which are legal tenders in digital form, are expected to reduce currency issuance and circulation costs and...
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Credit
An essential use of modern credit is the advance through an owner of money capital (or in the case of the banks, the non-owners of money capital) to...
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Would a Retail Central Bank Digital Currency Achieve Its Intended Purpose?
The issuance of a retail central bank digital currency (CBDC) has three purposes: (1) providing the public with a digital central bank money, (2)...
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The Future of Money: Central Bank Digital Currencies
This paper examines the rationale behind the exploration by the vast majority of central banks of introducing central bank digital currencies. This...
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A literature review on the design and implementation of central bank digital currencies
Within the last five years, research on Central Bank Digital Currencies (CBDCs) has increased with increased momentum. Particular events, such as the...
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Credit Networks
Little evidence survives of the creditors of early modern banks, and Thompson and Company is no different. Without original ledgers or business...
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How a liquidity saving mechanism affects bank behavior in interconnected payment networks
A surge in banks’ liquidity needs increases settlement costs that could burden the functioning of the real economy through its impact on banks’...
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Attributes needed for Japan’s central bank digital currency
The issuance of central bank digital currencies became a real policy issue after the announcement of Facebook’s Libra. Which types of product...
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Policy Responses: Benign Neglect, Exhortation, and Bank Holidays
Is it best to leave a panic to run its course, or to rely on expedients short of providing money through a lender of last resort? Prevention in the...
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The Effects of Minimum Bank Capital and Governance on the Financing of the EMCCA Economies
The chapter analyzes the effect of minimum bank capital on the financing of the CEMAC economies over 1998–2016, using data from BEAC and COBAC....
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Spheres of Money, Payments, and Credit Systems in the Colony of Senegal in the Long Nineteenth Century
This chapter attempts to show how people made payments before the introduction of modern money and how the system was altered by colonization. The...
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Money and Credit Circuits, Cycles and Crises
This chapter examines the nature of money, credit and finance under capitalism, paying special attention to the principle of innovation, involving...
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Account-level analytic hierarchical mixing modeling for credit risk of Chinese Government financing vehicle portfolios
Traditional credit risk measurement models, requiring fair amounts of default debts, have trouble in measuring the true default probability of...
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The Strategic Allocation and Sustainability of Central Bank Investments
In recent years, the extensive recourse to unconventional monetary policy measures and the growing importance of the transition process towards a...