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| 02195cam 2200361zi 4500 |
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| 001 | 9.902739 |
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| 003 | CaOODSP |
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| 005 | 20221107180039 |
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| 006 | m o d f |
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| 007 | cr |n||||||||| |
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| 008 | 210820t20212021oncd ob f|0| 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2021-10E-PDF |
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| 100 | 1 |aJiang, Janet Hua, |eauthor. |
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| 245 | 10|aMonetary policy pass-through with central bank digital currency / |cby Janet Jiang and Yu Zhu. |
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| 264 | 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2021. |
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| 264 | 4|c©2021 |
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| 300 | |a1 online resource (ii, 33 pages) : |bcharts. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = |aDocument de travail du personnel, |x1701-9397 ; |v2021-10 |
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| 500 | |a"Last updated: March 9, 2021." |
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| 504 | |aIncludes bibliographical references (pages 31-33). |
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| 520 | |a"This paper investigates how the introduction of an interest-bearing central bank digital currency (CBDC) that serves as a perfect substitute for bank deposits as an electronic means of payment affects monetary policy pass-through. When the deposit market is not fully competitive, the CBDC tends to weaken the pass-through of the interest on reserves. The interest on CBDC impacts the deposit market more directly compared with the interest onreserves. The CBDC rate can also have stronger pass-through to the loan market; however, the effect can be dampened by the policy on the interest on reserves. Therefore, coordination between the two policy rates is needed to effectively achieve policy goals"--Abstract, page ii. |
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| 650 | 0|aTransmission mechanism (Monetary policy)|zCanada. |
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| 650 | 0|aDigital currency|zCanada. |
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| 650 | 6|aMécanismes de transmission (Politique monétaire)|zCanada. |
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| 650 | 6|aMonnaie électronique|zCanada. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2021-10.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s555 KB|uhttps://publications.gc.ca/collections/collection_2021/banque-bank-canada/FB3-5-2021-10-eng.pdf |
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