Interest in central bank digital currencies (CBDCs) has been burgeoning with 134 countries now exploring its implementation. In December 2022, India started its CBDC pilot program to continue its tran
The data and programs replicate tables and figures from "Bank Market Power and Central Bank Digital Currency: A Case of Imperfect Substitution" by Gong, Han and Zhu. Please see the ReadMe file for add
The introduction of a central bank digital currency (CBDC) allows the central bank to engage in large-scale intermediation by competing with private financial intermediaries for deposits. Yet, since a
A central bank digital currency, or CBDC, may provide an attractive alternative to traditional demand deposits held in private banks. When offering CBDC accounts, the central bank needs to confront cl
