Studies from Shaanxi Normal University Add New Findings in the Area of Economic Change and Restructuring (The Impact of Central Bank Digital Currency On Monetary Policy Effectiveness): Economics – Economic Change and Restructuring

2024 JUN 25 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- Research findings on Economics - Economic Change and Restructuring are discussed in a new report. According to news reporting from Shaanxi, People’s Republic of China, by NewsRx journalists, research stated, “The emergence of central bank digital currency (CBDC) is a historic event in the transformation of traditional legal monetary forms. Its issuance and circulation change the existing monetary hierarchy and monetary system.”

Financial supporters for this research include National Social Science Fund of China, National Social Science Fund of China.

The news correspondents obtained a quote from the research from Shaanxi Normal University, “From the perspective that CBDC affects the monetary policy effectiveness, we introduce CBDC, quantity rule, and price rule into the traditional dynamic stochastic general equilibrium model, and propose a new DSGE model including households, manufacturers, the government, and the central bank. The impacts of CBDC on the effectiveness of quantity-based and price-based monetary policies are discussed separately, and three conclusions are drawn. First, the technology shock has better policy effects under the price rule. Second, the response of economic variables to the price rule shock is more significant. Third, the CBDC interest rate shock produces desirable policy effects on economic variables.”

According to the news reporters, the research concluded: “Based on the above conclusions, we put forward policy suggestions and future research directions.”

This research has been peer-reviewed.

For more information on this research see: The Impact of Central Bank Digital Currency On Monetary Policy Effectiveness. Economic Change and Restructuring, 2024;57(3). Economic Change and Restructuring can be contacted at: Springer, One New York Plaza, Suite 4600, New York, Ny, United States. (Springer - www.springer.com; Economic Change and Restructuring - http://www.springerlink.com/content/1573-9414/)

Our news journalists report that additional information may be obtained by contacting Binghui Wu, Shaanxi Normal University, International Business School, Xian, Shaanxi, People’s Republic of China.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s10644-024-09720-y. 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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