Financial sector development can play a crucial role in driving economic growth. Innovation in the payment system can potentially impact output, prices, and monetary policy transmissions. However, there is a conspicuous lack of work on the role of the payment system in driving economic activity,...

The recent increase in the use of a digital payment system is an interesting prospect in predicting macroeconomic activity. A digital payment system comprising credit cards, debit cards, automated teller machines (ATMs), and mobile banking represents a broad spectrum of spending activity. The...

The focus of this paper is to examine the asset pricing implications of a real business cycle model with recursive preferences and an investment specific technology shock. Particularly, in this model, the relative price of capital is subject to a shock and thereby it first increases the...

Increasing demand for health care due to a sizeable disease burden and the associated high catastrophic health expenditure (CHE) due to hospitalization is pushing many Indian households into impoverishment. Health insurance (HI) is a protection against CHE. However, HI market is often...

Financial sector development can play a crucial role in driving economic growth. Innovation in the payment system can potentially impact output, prices, and monetary policy transmissions. However, there is a conspicuous lack of work on the role of the payment system in driving economic activity,...

The recent increase in the use of a digital payment system is an interesting prospect in predicting macroeconomic activity. A digital payment system comprising credit cards, debit cards, automated teller machines (ATMs), and mobile banking represents a broad spectrum of spending activity. The...