Guest editors

• Katrin Assenmacher, European Central Bank 

• Michael Frenkel, WHU

 

Central banks around the world are exploring the idea of introducing central bank digital cur-rencies (CBDCs), i.e. digital central bank money that can be used by citizen for retail payments (retail CBDC) or is accessible for non-bank financial institutions (wholesale CBDC). The emer-gence of crypto-currencies and the Covid-19 pandemic have accelerated these efforts. At the same time, the literature on CBDCs is developing fast, covering design considerations, eco-nomic, financial and monetary policy implications as well as legal and regulatory issues, includ-ing their international dimension.

 

Contributions to the special issue may deal with, but are not limited to the following topics:

• Motivations for the introduction of a CBDC, including potential benefits and costs of CBDC;
• Estimates of potential demand and interlinkages with other means of payments;
• Macroeconomic effects of a CBDC, implications for monetary policy transmission and stance, effects on central bank balance sheets;
• Consequences for financial stability, the banking system as well as banks’ business mod-els and profitability;
• The potential role of CBDC in the global financial system, international finance implica-tions, the interoperability of different national CBDCs, effects on cross-border transac-tions, capital flows and the exchange rate;
• Issues linked to design choices, such as privacy related trade-offs, innovations in finan-cial services and financial inclusion, issuance and distribution models.

 

All papers will be looked after by one guest editor and refereed by two anonymous referees. They should be submitted in English through the online portal https://mc.manuscriptcen-tral.com/jbnst selecting research-article as type and “Special Issue: Central Bank Digital Currency” as attribute.

 

If you are in doubt whether your paper fits into the special issue, please contact the guest editors.

 

Finally accepted papers will be published immediately online ahead of print.

The Journal of Economics and Statistics (Jahrbücher für Nationalökonomie und Statistik) is a scientific journal published in Germany since 1863, since 2016 by De Gruyter Oldenbourg. The Journal of Economics and Statistics publishes papers in all fields of economics and applied statistics. A specific focus is on papers combining theory with empirical analyses. Papers providing conclusions for economic policy in Europe are particularly welcome. Nevertheless, distinguished papers dealing exlusively with economic theory, empirical models, or economic history, will not be excluded from consideration. The editors invite replication studies focusing on the robustness of empirical findings. The section Data Observer presents articles on data sets available for empirical research and institutions providing research data. The journal also publishes special issues, short comments, and book reviews.