Studies from Central University of Finance and Economics Yield New Data on Investment (The Effects of Interbank Market On Central Bank Digital Currency and Transmission of Monetary Policy): Investment

2026 JUL 28 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- New research on Investment is the subject of a report. According to news reporting originating in Beijing, People’s Republic of China, by NewsRx journalists, research stated, “In this paper, we examine the transmission mechanism of central bank digital currency (CBDC) in an economy with heterogeneous banks and an interbank market, using a New Keynesian DSGE framework.”

The news reporters obtained a quote from the research from the Central University of Finance and Economics, “Our findings show that the interbank market amplifies monetary policy shocks compared to a baseline scenario where the interbank market is absent or non-functional. Within the interbank setting, whether CBDC acts as a substitute for, or a complement to bank deposits plays a crucial role in either dampening or amplifying the transmission of monetary policy shocks in the presence of liquidity shocks and interbank market.”

According to the news reporters, the research concluded: “Furthermore, we find that the presence of liquidity shocks is critical in shaping outcomes in the presence of an interbank market.”

This research has been peer-reviewed.

For more information on this research see: The Effects of Interbank Market On Central Bank Digital Currency and Transmission of Monetary Policy. North American Journal of Economics and Finance, 2026;85. North American Journal of Economics and Finance can be contacted at: Elsevier Science Inc, Ste 800, 230 Park Ave, New York, NY 10169, USA. (Elsevier - www.elsevier.com; North American Journal of Economics and Finance - http://www.journals.elsevier.com/north-american-journal-of-economics-and-finance/)

Our news correspondents report that additional information may be obtained by contacting Bayarmaa Adiya, Central University of Finance and Economics, Beijing, People’s Republic of China.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.najef.2026.102671. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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