Technology by far has one of the most profound impacts on development of human lives. Banking industry is growing rapidly with the use of various technologies like ATMs, on-line banking, Telephone banking, Mobile banking etc., plastic cards are some of the banking products that cater to the...

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank production approach. The estimate of welfare cost uses fundamental parameters of utility and production technologies. It is compared to a cash-only economy, and a Lucas (2000)...