Author Archives: Ping-Kuei Chen

Disciplining Central Banks: Addressing the Privacy Concerns of CBDCs and Central Bank Independence

By | November 8, 2022

The past few years have witnessed the rise of the central bank digital currency (or CBDC), with many countries exploring and testing the viability of issuing a CBDC and dissecting their political and economic implications. The current literature surrounding CBDCs focuses mainly on technical design, institutional architecture, financial inclusion benefits, macroeconomic implications, and financial stability… Read More »

What to Expect When Central Bank Digital Currencies Cross Borders—the Spillover Effects and Corresponding Policy Responses

By | August 20, 2021

Central bank digital currencies (CBDCs) impact a sovereign state’s monetary policy and financial markets, and necessitate a rethink of the roles of modern states and central banks. The current literature around CBDCs focuses on two dimensions: (1) the impact of CBDC on monetary and macroprudential policies, and (2) the institutional infrastructure, legal mandates, and technical design… Read More »