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- W4386965145 abstract "After introducing digital currency, the central bank emerges as a monopolist bank. It then faces an “impossible trinity”. To achieve price stability and financial stability, optimal consumption allocation is sacrificed. In this paper, I show that fiscal policy designed in coordination with the central bank achieves optimal allocation while maintaining price stability and financial stability." @default.
- W4386965145 created "2023-09-23" @default.
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- W4386965145 date "2023-09-01" @default.
- W4386965145 modified "2023-09-29" @default.
- W4386965145 title "Central Bank Digital Currency and Fiscal Policy in a Diamond-Dybvig Model" @default.
- W4386965145 cites W2157509893 @default.
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- W4386965145 doi "https://doi.org/10.1016/j.jge.2023.100089" @default.
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