I use a Bayesian vector autoregressive (VAR) model to investigate the impact of monetary and technology shocks on the … euro area stock market in 1987-2005. I find an important role for technology shocks, but not monetary shocks, in explaining … variations in real stock prices. The identification method is flexible enough to study the effects of technology news shocks. The …

Given the current state of technology, agents could potentially deal with exchange by transferring directly Central … Bank fiat monies. Are we close to private banks becoming “technologically obsolete” in the provision of payment services … infrastructure. However, even though inter-bank debt transfers are cheaper than MOE transfers, the payment infrastructure entails …