美联储-CBDC对金融稳定的影响（英）-2024.4-48页

FinanceandEconomicsDiscussionSeriesFederalReserveBoard,Washington,D.C.ISSN1936-2854(Print)ISSN2767-3898(Online)FinancialStabilityImplicationsofCBDCFrancescaCarapella,Jin-WookChang,SebastianInfante,MelissaLeistra,AraziLubis,andAlexandrosP.Vardoulakis2024-021Pleasecitethispaperas:Carapella,Francesca,Jin-WookChang,SebastianInfante,MelissaLeistra,AraziLubis,andAlexandrosP.Vardoulakis(2024).“FinancialStabilityImplicationsofCBDC,”FinanceandEconomicsDiscussionSeries2024-021.Washington:BoardofGovernorsoftheFederalReserveSystem,https://doi.org/10.17016/FEDS.2024.021.NOTE:StaffworkingpapersintheFinanceandEconomicsDiscussionSeries(FEDS)arepreliminarymaterialscirculatedtostimulatediscussionandcriticalcomment.TheanalysisandconclusionssetfortharethoseoftheauthorsanddonotindicateconcurrencebyothermembersoftheresearchstaffortheBoardofGovernors.ReferencesinpublicationstotheFinanceandEconomicsDiscussionSeries(otherthanacknowledgement)shouldbeclearedwiththeauthor(s)toprotectthetentativecharacterofthesepapers.FinancialStabilityImplicationsofCBDC1FrancescaCarapella,Jin‐WookChang,SebastianInfante,MelissaLeistra,AraziLubis,andAlexandrosP.VardoulakisBoardofGovernorsoftheFederalReserveSystemApril10,2024AbstractACentralBankDigitalCurrency(CBDC)isaformofdigitalmoneythatisdenominatedinthenationalunitofaccountandconstitutesadirectliab...