Essays on innovation, central bank digital currency and asset pricing by George, Ammu

“…The simulations show that 1) interest-bearing CBDC is welfare improving for an emerging market economy; 2) the adjustable interest rate on CBDC causes uneven distributional effects between households and financial investors; and 3) exchange rate management becomes even more effective when interest-bearing CBDC interacts with sterilised FX intervention. …”
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Essays on international transmission of monetary policy and global financial risk spillover by Liu, Jingting

“…This thesis explores international transmission of monetary policy and global financial risk spillover into emerging market economies in three aspects. First, it asks how US monetary shocks and global financial risks are transmitted into emerging countries by investigating the underlying mechanism and how uncovered interest rate parity (UIP) deviation may be part of the mechanism. …”
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