We develop a quantitative New Keynesian DSGE model with monopolistic banks to study the macroeconomic effects of introducing a central bank digital currency (CBDC). Households benefit from an ...

This paper proposes a concept of a global currency and introduces a “global currency pricing” (GCP) specification into a standard N-country open economy macroeconomic model. A global currency is ...

Abstract: As the adoption of distributed energy resources (DERs) increases, it introduces several challenges to the distribution grid (DG), including reverse power flow, voltage instability, and grid ...

Abstract: A mixed traffic flow with connected automated vehicles (CAVs) and human-driven vehicles (HDVs) will persist for a long time. It is essential to utilize the limited road resources of freeways ...