数字人民币可控匿名特性的社会福利效应研究

Research on the Social Welfare Effect of the Controllable Anonymity Feature of E-CNY

本文通过构建货币搜寻模型,对e-CNY独特的可控匿名特性的社会福利效应进行研究。理论分析和基于中国经济现实的定量分析表明,在公众存在异质性交易隐私偏好的环境中,具备可控匿名特性的e-CNY更符合部分居民对交易隐私的偏好,故能影响他们的货币持有决策,进而通过多种渠道提升社会福利总量,最大提升幅度可达0.075%。同时e-CNY也能缩小公众之间的个人福利差异,促进社会福利分配的公平和均等。

This paper constructs a money search model to research the social welfare effect of e-CNY's unique controllable anonymity feature.The theoretical analysis and quantitative analysis based on China's economic reality show that in an environment where the public has heterogeneous transaction privacy preferences,e-CNY with contrllable anonymity feature is more in line with some residents'preference for transaction privacy,so it can affect their currency-holding decisions,and then increases the total amount of social welfare through various channels,with the 0.075% maximum increase.At the same time,e-CNY can also narrow the individual welfare dfference among the public,and promote the fair and equal distribution of social welfare.