Suchergebnisse

We estimate a dynamic banking model to quantify the impact of a central bank digital currency (CBDC) on the banking system. Our counterfactuals show that a one-dollar introduction of CBDC replaces bank deposits by around 80 cents on the margin. Bank lending falls by one-fourth of the drop in deposits because banks partially replace lost deposits with wholesale funding. This substitution raises banks' interest-rate risk exposure and lowers their resilience to negative equity shocks. If CBDC bears interest or is intermediated through banks, it captures a greater deposit market share, amplifying the impact on lending. The effect on lending is amplified for small banks, for which wholesale funding is more expensive.

My dissertation traces the invention and development of a new form of banking, body banking. Today, the body bank as an institution that collects, stores, processes, and distributes a human body product is a taken-for-granted aspect of medicine in the United States. We donate to blood banks, we cherish sperm bank babies, and we contemplate many sorts of banks, including cord blood banks, gene banks, and egg banks. Such institutions have existed for the past century in the metaphorical shadow of financial banks, and like those better-studied banks have stirred considerable controversy. The driving question behind my dissertation is simply, why banks? How did we come to use "bank" to apply to bodies as well as to dollars? More intriguingly, what does this analogy show us and what is it hiding?

Jurisdiction — In general — Territorial — Expropriation of alien property — Property outside territory of expropriating State — Bank account at Pennsylvania bank — Account opened by Pakistan bank in connection with activities of East Pakistan branch — Secession of Bangladesh — Nationalization of branch of Pakistan bank — Whether extending to bank account in Pennsylvania — Act of State doctrine — The law of the United States192States as international persons — In general — Recognition of acts of foreign States and governments — Act of State doctrine — Expropriation — Property located outside expropriating State — Bank account at Pennsylvania bank — Situs — Whether act of State doctrine requires court to give effect to confiscation without compensation if property is located in United States — State succession — Bangladesh — Bank account opened by Pakistan bank in connection with activities of East Pakistan branch — Secession of Bangladesh — Nationalization of East Pakistan branch — Ownership of bank account — The law of the United States