Data and code for "To Tokenize, or Not to Tokenize: The Design Question for a Central Bank Digital Currency"

This replication package contains the data, code, figures and documentation required to reproduce the calibration targets, model solutions, comparative statics, and welfare analysis in "To Tokenize, or Not to Tokenize: The Design Question for a Central Bank Digital Currency." The package uses publicly available macroeconomic, banking, cryptocurrency, and stablecoin data from FRED, stablecoin issuer reserve reports, CoinGecko, and DefiLlama to construct empirical calibration targets.

Python scripts process and harmonize the raw data, while MATLAB scripts calibrate the model, solve equilibrium conditions under baseline/no-CBDC, non-tokenized CBDC, and tokenized CBDC regimes, and generate the paper’s tables and figures. Replication package for peer-reviewed article forthcoming in the Canadian Journal of Economics.