Following demonetization, the government has been encouraging the dream of cashless society in India, urging the people to use POS machine, e-wallet, plastic money, online payment, etc., in their day-to-day transactions. Before demonetization, people used to buy impulsively from the retail malls...

Apart from a priori assumptions on instantaneous or long run effects of structural shocks, sign restrictions have become a prominent means for structural vector autoregressive (SVAR) analysis. Moreover, second order heterogeneity of systems of times series can be fruitfully exploited for...