The Effects of Central Bank Digital Currencies News on Financial Markets
نویسندگان
چکیده
Based on coverage of over 660m news stories from LexisNexis News & Business between 2015–2021, we provide two new indices around the growing area Central Bank Digital Currency (CBDC): CBDC Uncertainty Index (CBDCUI) and Attention (CBDCAI). We show that both spiked during related to developments in relation digital currency items. demonstrate have a significant negative relationship with volatilities MSCI World Banks Index, USEPU, FTSE All-World positive cryptocurrency markets, foreign exchange bond VIX, gold. Our results suggest financial markets are more sensitive than as proxy by these indices. These findings contain useful insights individual institutional investors, can guide policymakers, regulators, media how evolved barometer digital-currency era.
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ژورنال
عنوان ژورنال: Technological Forecasting and Social Change
سال: 2022
ISSN: ['0040-1625', '1873-5509']
DOI: https://doi.org/10.1016/j.techfore.2022.121715