By setting bounds on money growth, the commodity standard is a solution to the monetary authority's time inconsistency problem, which arises from the fixed wage structure of the economy. If there is a supply shock to the backing commodity, the suspension of the commodity standard may be...

"Demonetization" is a multi-dimensional phenomenon with far reaching impact on all sections of the society just like a budget i.e. impact on home-makers and households, on taxpayers, savers and investors, on farmers and industrialists, on hoarders and tax evaders and so on. When India adopted...

Demonetization drive of Nov. 8, 2016 led to nullification of 86% of India's currency that was in circulation. It was aimed at weeding out the black market's cash supply and counterfeit notes that are disrupting the socio-politico-economic landscape of the world's second largest emerging market....

Demonetisation step of 2016 was somehow different from to earlier steps because of its sudden declaration taking aback the general public, bankers who were to deal mainly with the situation, as it was feared that if the black market caught any whisper of what the government was planning, they...

We analyze a unique episode in the history of monetary economics, the 2016 Indian "demonetization." This policy made 86% of cash in circulation illegal tender overnight, with new notes gradually introduced over the next several months. We present a model of demonetization where agents hold cash...

The aim of this paper is to analyze the demand of both traditional and new media of exchange – as cryptocurrencies and central bank digital currencies – proposing a novel specification of the demand for money. In this specification, the medium of payment (MOP) has three properties: the first...

This paper aims to demonstrate the optimization of digital banking after demonetization of a series of currency notes denominated in 500 and 1,000 in India. The government initiated the demonetization process on November 8, 2016. India is a developing country and Indian banks have been offering...

Indian present government took a bold and surprising decision on 8th November, 2016 to demonetize two largest denomination notes (1000 and 500 rupee) with a view to eradicate the black money from the market. The paper emphasizes on recent Indian demonetization confrontation with a brief...

November 8, 2016 declaration by Indian Prime Minister, Narendra Modi that all 500- and 1000-rupee banknotes notes of the Mahatma Gandhi Series would cease being legal tender from midnight 9th November 2016 was greeted with shock and dismay. The pronouncement demonetized the two banknotes....

Technology has been a game changer, and with its advancement things around us have changed drastically offering comfort and convenience. The Smartphone has brought about a change in our lives facilitating ordering food, groceries, movie ticket or cab booking with just a few clicks. The Mobile...