IMF Approach to Central Bank Digital Currency Capacity Development

Managing Aggregate Liquidity: The Role of a Central Bank Digital Currency∗

We study how the introduction of a central bank-issued digital currency affects interest rates, the level of economic activity, and welfare in a model where both central bank money and private bank deposits are used in exchange. Banks in our model are financially constrained and the liquidity premium on bank deposits affects the level of aggregate investment. We study the optimal design of a di...

Bank Automation System for Indian Currency A Graphical Approach

The serial numbers are currency issuance numbers, which are used as the identifiers (IDs) of the banknotes. Each sheet has its own serial numbers and the same numbers cannot be used more than once. Correctly and fast recognizing these numbers is very important due mainly to at least the three reasons. Firstly, there is a need for proper statistics by the national treasuries and the banks. Befor...

Central Bank Independence and Central Bank Conservatism: Theory with an Application to Iran

New monetary literatures widely concentrates on the importance of institutional arrangements in the effectiveness of monetary policy. The debate regarding the optimal institutional design of central banks, independence and conservatism are usually considered to be the most important ingredients for a stable and successful monetary policy. Therefore, the purpose of this study is to deal with the...

The Sensitivity of Central Bank Independence Measurements to Inflation in Iran: A New Approach

The purpose of this study is finding the sensitivity of central bank independence measurements on its impact on inflation in Iran. To this aim different measurements of the central bank independence were calculated using the indices of Grilli et al. (1991), Cukierman et al. (1992), Mathew (2006) and Dumiter (2009) for the period 1961-2012 . Although results of correlation between CBI index and ...

Reform of the IMF and World Bank