Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Finance and Financial Management
Cbdc: Context, Challenges, And Conditions For A Successful Adoption, Charlie Nhuc Hiang Lay
Cbdc: Context, Challenges, And Conditions For A Successful Adoption, Charlie Nhuc Hiang Lay
Dissertations and Theses Collection (Open Access)
Central bank digital currencies (CBDC) are the digital version of physical notes and coins. They are the latest milestone in the evolution of money over the centuries due to technological advancements. This digitalisation of physical money primarily serves as a medium of exchange that has a central bank anchor. There are two versions of CBDC, wholesale and retail. This thesis focuses on retail CBDC, which targets the general public and small daily transactions. It discusses the issues and the plausible implementation of a retail CBDC. A CBDC will preserve monetary sovereignty, foster financial stability, and counter private network effects, i.e., …
Sandwiched Between A Rock And A Hard Place?, Thomas Lam, David Fernandez
Sandwiched Between A Rock And A Hard Place?, Thomas Lam, David Fernandez
Sim Kee Boon Institute for Financial Economics
The policy gap between US and China is likely to be widening further, potentially raising and unevenly distributing the risks of negative spillovers for Asia and the rest of the world.
Monetary Policy Surprises, Stock Returns, And Financial And Liquidity Constraints, In An Exchange Rate Monetary Policy System, John M. Sequeira
Monetary Policy Surprises, Stock Returns, And Financial And Liquidity Constraints, In An Exchange Rate Monetary Policy System, John M. Sequeira
Research Collection Lee Kong Chian School Of Business
This study examines the impact of monetary policy surprises on the stock price behaviour of a small developed economy, whose monetary policy is based on the exchange rate. We find that monetary policy surprises associated with all contractionary policy levers and a neutral policy lever, have a consistently significant and negative impact on stock returns. In comparison, only monetary policy surprises associated with a downward re-centering policy lever, has a significantly positive effect on stock returns. Using a recalibrated classification system, we also find that monetary policy surprises differ across sectors of the economy. Our results show how monetary policy …