Balance Sheet Analysis of the Effects of Central Bank Digital Money Substitution Instead of Bank Deposits on the Balance Sheet of Economic A gents
In the current monetary system, money is a type of debt that is created by the central bank and banks in the context of balance sheet operations. Creating money in a partial reserve banking system creates or exacerbates various problems, including bankruptcy and bankrun. One way to solve such problems is to change the system of money governance to a situation where the possibility of creating bank money is eliminated (100% reserve system). Analysis of CBDC balance sheets based on the balance sheets of economic agents shows that increasing the CBDC in the people's portfolio in the economy and replacing it with bank deposits reduces the money-creating power of banks. If the CBDC completely replaces bank deposits, the money-creating power of banks will be reduced to zero. In fact, the CBDC enables the creation of a full reserve-based monetary system that eliminates the problems of bank money creation, including the high probability of cash bankruptcy (due to unequal risk on both sides of the bank balance sheet) and balance sheet bankruptcy (due to banks' ability to defer non-current facilities).
- حق عضویت دریافتی صرف حمایت از نشریات عضو و نگهداری، تکمیل و توسعه مگیران میشود.
- پرداخت حق اشتراک و دانلود مقالات اجازه بازنشر آن در سایر رسانههای چاپی و دیجیتال را به کاربر نمیدهد.