A recent Parliamentary Treasury Committee Inquiry considered three issues that are significant for economic policy: What determines the aggregate level of household net saving and the saving ratio in the…
We study the macroeconomic consequences of issuing central bank digital currency (CBDC) — a universally accessible and interest-bearing central bank liability, implemented via distributed ledgers, that competes with bank deposits…
In the loanable funds model that dominates the literature, banks are nonfinancial warehouses that receive physical commodity deposits from savers before lending the commodities to borrowers. In the financing model…
Die Finanzkrise 2008 ist auch zehn Jahre danach nicht behoben, nur aufgeschoben. Die Rettungspolitik im Interesse von Banken, Finanzvermögen und überschuldeten Staaten hat eine Zombifizierung von Teilen des Banken- und…
The Riksbank has provided the general public with money for 350 years, but as the use of cash is continuing to decline in Sweden, we need to think in new…