In this paper, we develop a model incorporating the impact of financial inclusion to study the implications of introducing a retail central bank digital currency (CBDC). CBDCs in developing countries ...

We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; ...

[Photo/Xinhua] Since the first day I started covering stories about the digital yuan, one question has occupied my mind constantly — What is the real relationship between the country's push toward a ...