Jiaqi Li is a Senior Economist in the Banking and Payments Department (BAP). She is a macroeconomist with research interests in banking, financial frictions and monetary transmission. Jiaqi obtained her PhD in Economics from the University of Cambridge.
To what extent does a central bank digital currency (CBDC) compete with bank deposits? To answer this question, we develop and estimate a structural model where each household chooses which financial institution to deposit their digital money with.
