CBDC in line with the Vollgeld approach? - A problem of parity The - PowerPoint PPT Presentation

Feb 12, 2024 •125 likes •225 views

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

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 Parity Digital cash scenario
Commercial banks and central bank Exchange rate parity CBDC and bank money are convertibleat 1:1 Creditors and Treasury Parity Settlement parity CBDC and bank money settletaxes and debtat nominal price Digital cash scenario
Commercial banks and central bank Exchange rate parity CBDC and bank money are convertibleat 1:1 Creditors and Market and Treasury money users Parity Settlement Purchasing parity power parity CBDC and bank money CBDC and bank money settletaxes and debtat buy assets, goods and nominal price services at the same price. Digital cash scenario
Commercial banks Exchange rate parity ? Creditors and Market and Treasury money users Parity Settlement Purchasing parity power parity CBDC and bank money CBDC and bank money settletaxes and debtat buy assets, goods and nominal price services at the same price. Vollgeld scenario
Commercial banks Exchange rate parity ? Creditors Market and money users Parity Settlement Purchasing parity power parity CBDC and bank money ? buy assets, goods and services at the same price. Vollgeld scenario
Commercial banks Exchange rate parity ? Creditors Market and money users ? Settlement Purchasing parity power parity ? ? Vollgeld scenario See: Bjerg, Ole: Breaking the Gilt Standard. CBS Working Paper, August 2018

Recommend

CBDC & Banking Liberalization The Future of Money Frankfurt 24 th November 2018 Miguel A.

CBDC & Banking Liberalization The Future of Money Frankfurt 24 th November 2018 Miguel A. Fernndez Ordez cbDC and CBDC models cbDC (commercial bank Digital Currency) Money and Banking are closely linked. They are

454 views • 11 slides

Vollgeld 101 The Future of Money - Conference Manuel Klein Quotes from central bank publications

Vollgeld 101 The Future of Money - Conference Manuel Klein Quotes from central bank publications Money creation in practice differs from some popular misconceptions banks do not act simply as intermediaries, lending out deposits that

267 views • 24 slides

Semiclassical Approach to Pairing of Drip-Line Nuclei P. Schuck IPN Orsay and LPMMC Grenoble

Semiclassical Approach to Pairing of Drip-Line Nuclei P. Schuck IPN Orsay and LPMMC Grenoble CONTENT Thomas-Fermi approximation for gap, TF-BCS Drip-line situations, drip-line nuclei BCS vs HFB -corrections to LDA Applications of TF-BCS

642 views • 17 slides

DC Power line Undergrounding Pepco Procurement & Contracting Approach, Timeline, and Vendor

DC Power line Undergrounding Pepco Procurement & Contracting Approach, Timeline, and Vendor Registration Process Presented by: Reginald McCauley, Director, Supply Chain September 18, 2014 Agenda Procurement approach Procurement

365 views • 32 slides

IAG key messages Good top line momentum in all business segments with a disciplined approach

June 29, 2004 1 Investor and Analyst Conference IAG key messages Good top line momentum in all business segments with a disciplined approach that delivers a stable ROE IAG is taking advantage of consolidation to grow its market shares

1.2k views • 61 slides

Energy efficiency through an on-line learning approach for forecasting of indoor temperature F.

Energy efficiency through an on-line learning approach for forecasting of indoor temperature Energy efficiency through an on-line learning approach for forecasting of indoor temperature F. Zamora-Mart nez, P . Romeu, J. Pardo , P .

353 views • 21 slides

Reaching out a Bayesian approach to detecting giant planets beyond the ice line Rodrigo F. Daz

Reaching out a Bayesian approach to detecting giant planets beyond the ice line Rodrigo F. Daz Geneva Observatory rodrigo.diaz@unige.ch Hbrard, Bouchy, Udry, Arnold, Astudillo-Defru, Boisse, Bonfils, Borgniet, Bourrier, Courcol, Delfosse,

383 views • 24 slides

Approach to practical application of Deep Learning in manufacturer's production line Masahiro

Approach to practical application of Deep Learning in manufacturer's production line Masahiro Kashiwagi, Hiroyuki Kusaka, Kiminori Kurosawa and Kenji Nishide 1 1 Applications Service Agriculture Advertisement Education Security Deep

504 views • 32 slides

Consider a line ST with its line bisector below. U S T O From the definition of a line

D AY 66 P ROPERTIES OF BISECTED LINE I NTRODUCTION A farm owner may want to construct a path that passes exactly through the middle of his farm so enable access to various parts of the farm. The problem will be how to identify a line that

291 views • 9 slides

outline Institute for Software Research motivation A Software Product Line Approach

Institute for Software Research outline Institute for Software Research motivation A Software Product Line Approach software product line for Handling Privacy Constraints our privacy-enabling user modeling architecture in Web

262 views • 4 slides

X-Line 101 June 2019 X-Line 101 X-Line Unit Overview What makes X-Line unique X-Line 101

X-Line 101 June 2019 X-Line 101 X-Line Unit Overview What makes X-Line unique X-Line 101 Technology Changes, The Function Stays The Same Old Technology New Technology Carburetor Fuel Injection Distributor Electronic

767 views • 58 slides

Line Segments and Triangles A line drawing = set of line segments + set of faces. We need to

Chapter 6 Hidden-Line Elimination Line Segments and Triangles Tests for Visibility Input Format of 3D Objects Holes and Invisible Line Segments Individual Faces and Line Segments Automatic Generation of Input Files HP-GL

511 views • 30 slides

DC Power Line Undergrounding Technical Approach Presented by: Keith Foxx, DDOT Program Manager

DC Power Line Undergrounding Technical Approach Presented by: Keith Foxx, DDOT Program Manager & Scott Placide, Pepco Electrical Engineer II Date: September 18, 2014 Agenda Safety Culture Technical Overview Planning and

607 views • 18 slides

Notes Other Standard Approach Find where line intersects plane of triangle Email list

Notes Other Standard Approach Find where line intersects plane of triangle Email list Check if it s on the segment Even if you re just auditing! Find if that point is inside the triangle Use barycentric coordinates

540 views • 4 slides

SFO Runway Layout Runway 28L Offset PROCEDURE: Visual Arrivals, Foster City Arrivals TEAL LINE:

SFO Runway Layout Runway 28L Offset PROCEDURE: Visual Arrivals, Foster City Arrivals TEAL LINE: existing 28L ILS. PINK LINE: existing 28R ILS. GRAY LINE : existing RNAV (RNP) Y RWY 28R. ORANGE LINE : existing FMS Bridge Visual Approach 28R. GREEN

200 views • 8 slides

Off-line Signature Verification: A Circular Outline Grid-Based Feature Extraction Approach

8vas. Jornadas de Ciencias de la Computaci on (XIII JCC) XIII JCC Off-line Signature Verification: A Circular Outline Grid-Based Feature Extraction Approach Motivation Contributions Feature Marianela Parodi Extraction SVM-based <

652 views • 28 slides

On-line Multi-label Classification A Problem Transformation Approach Jesse Read Supervisors:

On-line Multi-label Classification A Problem Transformation Approach Jesse Read Supervisors: Bernhard Pfahringer, Geoff Holmes Hamilton, New Zealand Outline Multi-label Classification Problem Transformation Binary Method

885 views • 51 slides

Typical Approach & Practical Case Studies of DC Insulator Dimensioning for AC to DC Line

Typical Approach & Practical Case Studies of DC Insulator Dimensioning for AC to DC Line Conversion ANDREAS DERNFALK Typical Approach & Practical Case Studies of DC Insulator Dimensioning for AC to DC Line Conversion Andreas Dernfalk

305 views • 18 slides

Title Slide Math 696 Class July 19, 2002 Line 1 Line 2 Line 3 Line 4 Line 5 Line 6 Line 7

Title Slide Math 696 Class July 19, 2002 Line 1 Line 2 Line 3 Line 4 Line 5 Line 6 Line 7 1 0 sin( x ) =?

312 views • 3 slides

Hudson Line Investments and Capacity Constraints Pascack Valley Line The Pascack Valley

Pascack Valley Line Hudson Line Investments and Capacity Constraints Pascack Valley Line The Pascack Valley Line is a single track line (with recently added passing sidings) jointly operated and controlled by New Jersey Transit with

189 views • 4 slides

starting point of two or more rays or lines. Bisect To divide something, in this case, a line

D AY 36 C OPYING AND BISECTING A LINE SEGMENT AND AN ANGLE I NTRODUCTION We are familiar with the terms line segment and angle, having defined and discussed their properties in our previous lessons. In the real world, angles and line

629 views • 34 slides

Example 1 1. Find the equation of the line joining P = (1 , 1 , 1) to Q = (1 , 0 , 1) in vector

Lines and Planes in R 3 1.3 P. Danziger Lines in R 3 We wish to represent lines in R 3 . Note that a line may be described in two different ways: By specifying two points on the line. By specifying one point on the line and a vector

472 views • 13 slides

= P ( t ) f ( x , y ) ds ( , t ) line A set of line integrals form

Moscow-Bavarian Joint Advanced Student School 2006 / Medical Imaging Principles of Computerized Tomographic Imaging and Cone-Beam Reconstruction Line Integrals Line integrals represent the integral of some parameter of the object along the

658 views • 16 slides

Line Break Presentation INTRODUCTION Safety considerations in line breaks and openings. Line

Line Break Presentation INTRODUCTION Safety considerations in line breaks and openings. Line Break: The PSM objective is to prevent unwanted release of hazardous chemicals that could expose employee's to harm. Our Three Goals for this

855 views • 16 slides