SLIDE 1
CBDC in line with the Vollgeld approach?
- A problem of parity
The Future of Money Frankfurt 2018
Ole Bjerg, Copenhagen Business School
CBDC in line with the Vollgeld approach? - A problem of parity The - - PowerPoint PPT Presentation
CBDC in line with the Vollgeld approach? - A problem of parity The - - PowerPoint PPT Presentation
CBDC in line with the Vollgeld approach? - A problem of parity The Future of Money Frankfurt 2018 Ole Bjerg, Copenhagen Business School Parity Commercial banks and central bank Exchange rate parity CBDC and bank money are convertibleat 1:1
SLIDE 2
SLIDE 3
Parity
SLIDE 4
Parity
Exchange rate parity
CBDC and bank money are convertibleat 1:1
Commercial banks and central bank
Digital cash scenario
SLIDE 5
Parity
Exchange rate parity
CBDC and bank money are convertibleat 1:1
Settlement parity
CBDC and bank money settletaxes and debtat nominal price
Commercial banks and central bank Creditors and Treasury
Digital cash scenario
SLIDE 6
Parity
Exchange rate parity
CBDC and bank money are convertibleat 1:1
Purchasing power parity
CBDC and bank money buy assets, goods and services at the same price.
Settlement parity
CBDC and bank money settletaxes and debtat nominal price
Commercial banks and central bank Creditors and Treasury Market and money users
Digital cash scenario
SLIDE 7
Parity
Exchange rate parity
?
Purchasing power parity
CBDC and bank money buy assets, goods and services at the same price.
Settlement parity
CBDC and bank money settletaxes and debtat nominal price
Commercial banks Creditors and Treasury Market and money users
Vollgeld scenario
SLIDE 8
Parity
Exchange rate parity
?
Purchasing power parity
CBDC and bank money buy assets, goods and services at the same price.
Settlement parity
?
Commercial banks Creditors Market and money users
Vollgeld scenario
SLIDE 9
?
Exchange rate parity
?
Purchasing power parity
?
Settlement parity
?
Commercial banks Creditors Market and money users See: Bjerg, Ole: Breaking the Gilt Standard. CBS Working Paper, August 2018