Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322046 
Year of Publication: 
2025
Series/Report no.: 
ECB Working Paper No. 3035
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
We field a series of experiments in a population-representative survey of European consumers to examine their attitudes towards the possible introduction of a digital euro. First, we show that a short video explaining the key features of the digital euro is effective in changing consumers' beliefs about such a new form of payment and increases the likelihood of adoption by 12pp relative to a control group that is not shown the video. Second, we find that on aggregate consumers would allocate a relatively small fraction from a positive wealth shock to digital euros and their allocation to other liquid assets would be little affected. Third, holding limits in the range of €1,000 to €10,000 have insignificant differential effects on the composition of liquid asset holdings. We also show that a non-trivial fraction of consumers report that they will not adopt the digital euro due to strong preferences for existing forms of payment.
Subjects: 
Central Bank Digital Currencies (CBDC)
Payments
Randomized Control Trial (RCT)
Household Finance
Household Expectations
Consumer Expectations Survey
Money
central bank
consumer behaviour
payment
virtual currency
household
JEL: 
E41
E58
D12
D14
G51
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-7120-1
Document Type: 
Working Paper

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