Publications

3 publications found, searching for 'Biagio Bossone '

• Working Paper No. 1015 February 20, 2023

  CBDC Next-Level: A New Architecture for Financial “Super-Stability” 

  Biagio Bossone, and Michael Haines
  Abstract

  Fractional reserve regimes generate fragile banking, and full reserve regimes (e.g., narrow banking) remove fragility at the cost of suppressing the role of banks as lenders. A Central Bank Digital Currency (CBDC) could provide safe money, but at the cost of potentially disrupting bank lending. Our aim is to avoid this potential disruption. Building on […]

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• Public Policy Brief No. 69 November 02, 2002

  Should Banks Be “Narrowed”?

  Biagio Bossone
  Abstract

  In this brief, Biagio Bossone of the International Monetary Fund evaluates narrow banking from the perspective of modern theories of financial intermediation. These theories portray the status quo banking system as a solution to otherwise intractable problems of imperfect information, risk, and even moral hazard. The system’s characteristic coupling of liquid liabilities with illiquid assets—seen […]

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• Working Paper No. 354 October 01, 2002

  Should Banks Be Narrowed?

  Biagio Bossone
  Abstract

  Over the past 70 years, a proposal to narrow the scope of banks has emerged more and more frequently in financial debates and research. Narrow banking would prevent deposit-issuing banks from lending to the private sector and restrict nonbank intermediaries from funding investments with demand deposits. Proponents of narrow banking defend it as a step […]

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