Over the years, the demand for seamless and inexpensive cross-border payments has grown in parallel with growth in international e-commerce, remittances and tourism. Yet, cross-border payments have not kept pace with the intensive modernization that has characterized domestic payment services...

In recent years, due to innovations in technology, the concept of digital currency has emerged out of the desire of some private entities to replicate specific properties of cash in the digital space. Digital currencies have been issued in various electronic formats and value propositions, and...

Payment and settlement systems and services have become vital components of the economic life of contemporary societies. Over the last decades, they have gone through several waves of reforms that have changed the landscape of the national payments system (NPS) in virtually every country in the...

This report aims at assisting Maldives Monetary Authority (MMA) to establish an effective oversight framework to monitor the different payment and settlement systems, payment instruments and payment service providers in the Maldives. The framework for oversight is based on the Bank for...

This note examines the observance by the National Bank of the Republic of Belarus (NBRB) of the good practices on transparency in monetary policy. The transparency analysis was based on a review of relevant laws and regulations and the International Monetary Fund (IMF s) code of good practices...

Health care demand price elasticies are often estimated from samples conditioned to include only sike people. This paper shows that not only may such estimates be statistically biased, but even when properly estimated they can only be interpreted as short-run price responses.