00000nam 2200000zi 4500 9.933707 CaOODSP 20240209103805 m o d f cr mn||||||||| 240209t20242024onca ob f000 0 eng d CaOODSP eng rda CaOODSP eng eng fre n-us--- FB3-5/2024-4E-PDF Li, Jiaqi (Economist) author. Central bank digital currency and banking choices / by Jiaqi Li, Andrew Usher and Yu Zhu. [Ottawa] : Bank of Canada = Banque du Canada, 2024. ©2024 1 online resource (ii, 60 pages) : illustrations (some colour). text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2024-4 ISSN assigned to different series. "Last updated: February 8, 2024." Includes bibliographical references. "To what extent does a central bank digital currency (CBDC) compete with bank deposits? To answer this question, we develop and estimate a structural model where each household chooses which financial institution to deposit their digital money with. Households value the interest paid on digital money, the possibility of obtaining complementary financial products, and the access to in-branch services. A non-interest-bearing CBDC that does not provide complementary financial products can substantially crowd out bank deposits only if it provides an extensive service network. Imposing a large limit on CBDC holding would effectively mitigate this crowding out"--Abstract, page ii. Includes abstracts in English and French. Digital currency Econometric models. Bank deposits Econometric models. Banks and banking Econometric models. Monnaie électronique Modèles économétriques. Dépôts bancaires Modèles économétriques. Services bancaires Modèles économétriques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2024-4. (CaOODSP)9.806221 PDF 1.10 MB https://publications.gc.ca/collections/collection_2024/banque-bank-canada/FB3-5-2024-4-eng.pdf