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Instant Payments : Regulatory Innovation and Payment Substitution Across Countries
Khiaonarong, Tanai; Humphrey, David - 2022
, reduce payment risk, and have significantly replaced the use of cash, cards, or check and direct debit payments. We note the …
Persistent link: https://www.econbiz.de/10014237875
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Digital Money and Central Banks Balance Sheet
Singh, Manmohan; Armas, Adrian - 2022
Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type...
Persistent link: https://www.econbiz.de/10014236308
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Falling Use of Cash and Demand for Retail Central Bank Digital Currency
Khiaonarong, Tanai; Humphrey, David - 2022
Cash use in most countries is falling slowly. On the margin, younger adults favor cash substitutes over cash. For older … the demand for cash and why it is falling. Cash use may continue to fall, and card use (the main cash substitute) may fall …
Persistent link: https://www.econbiz.de/10013295132
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Fintech and Payments Regulation : Analytical Framework
Khiaonarong, Tanai - 2020
Financial technology (Fintech) has prompted authorities to consider their potential financial stability benefits, risks, and effective regulation. Recent developments suggest that regulatory approaches and their legal foundations need to augment entity-based regulation with increasing focus on...
Persistent link: https://www.econbiz.de/10012830835
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Cash Use Across Countries and the Demand for Central Bank Digital Currency
Khiaonarong, Tanai - 2019
The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While …-not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference … for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be …
Persistent link: https://www.econbiz.de/10012889147
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Dirty Money : Does the Risk of Infectious Disease Lower Demand for Cash?
Cevik, Serhan - 2021
handling potentially contaminated cash. This paper is the first empirical attempt in the literature to investigate whether the … risk of infectious diseases affects demand for physical cash. Since the intensity of cash use may influence the spread of … lowers demand for physical cash, after controlling for macroeconomic, financial, and technological factors. While the …
Persistent link: https://www.econbiz.de/10013252023
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Some Alternative Monetary Facts
Stella, Peter; Singh, Manmohan; Bhargava, Apoorv - 2021
In this paper, we discuss the modern history of monetarism and its alternatives, as well as the changing empirical relationship of various measures of money and inflation. After demonstrating that previous naïve correlations between money and inflation as established in the 20th century...
Persistent link: https://www.econbiz.de/10013243075
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Monetary Policy in a Developing Country : Loan Applications and Real Effects
Abuka, Charles Augustine - 2016
The transmission of monetary policy to credit aggregates and the real economy can be impaired by weaknesses in the contracting environment, shallow financial markets, and a concentrated banking system. We empirically assess the bank lending channel in Uganda during 2010-2014 using a supervisory...
Persistent link: https://www.econbiz.de/10012999746
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Monetary Policy Implications Central Bank Digital Currencies : Perspectives on Jurisdictions with Conventional and Islamic Banking Systems
Lukonga, Inutu - 2023
Central bank digital currencies (CBDCs) promise many benefits but, if not well designed, they could have undesired consequences, including for monetary policy. Issuing an unremunerated CBDC or a wholesale CBDC does not change the objectives of monetary policy or the operational framework for...
Persistent link: https://www.econbiz.de/10014355809
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Measurement and Use of Cash by Half the World's Population
Khiaonarong, Tanai; Humphrey, David - 2023
The use of cash for payments is not well measured. We view the value of cash withdrawn from ATMs, or as a share of all … payments, as a more accurate and timely measure of cash use compared to the standard measure of currency in circulation, or as … trend in cash use for payments is currently falling for half the world’s population. Such a measure can help inform policy …
Persistent link: https://www.econbiz.de/10014351364