Electronic Money and the Monetary Transmission Process - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Electronic Money and the Monetary Transmission Process write by Frank Hespeler. This book was released on 2008. Electronic Money and the Monetary Transmission Process available in PDF, EPUB and Kindle.
E-Money and Monetary Policy Transmission
E-Money and Monetary Policy Transmission - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook E-Money and Monetary Policy Transmission write by Zixuan Huang. This book was released on 2024-03-29. E-Money and Monetary Policy Transmission available in PDF, EPUB and Kindle. E-money development has important yet theoretically ambiguous consequences for monetary policy transmission, because nonbank deposit-taking e-money issuers (EMIs) (e.g., mobile network operators) can either complement or substitute banks. Case studies of e-money regulations point to complementarity of EMIs with banks, implying that the development of e-money could deepen financial intermediation and strengthen monetary policy transmission. The issue is further explored with panel data, on both monthly (covering 21 countries) and annual (covering 47 countries) frequencies, over 2001 to 2019. We use a two-way fixed effect estimator to estimate the causal effects of e-money development on monetary policy transmission. We find that e-money development has accompanied stronger monetary policy transmission (measured by the responsiveness of interest rates to the policy rate), growth in bank deposits and credit, and efficiency gains in financial intermediation (measured by the lending-to-deposit rate spread). Evidence is more pronounced in countries where e-money development takes off in a context of limited financial inclusion. This paper highlights the potential benefits of e-money development in strengthening monetary policy transmission, especially in countries with limited financial inclusion.
The Rise of Digital Money
The Rise of Digital Money - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Rise of Digital Money write by Mr.Tobias Adrian. This book was released on 2019-07-15. The Rise of Digital Money available in PDF, EPUB and Kindle. This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
Electronic Money Flows
Electronic Money Flows - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Electronic Money Flows write by Elinor Solomon. This book was released on 2012-12-06. Electronic Money Flows available in PDF, EPUB and Kindle. Electronic Money Flows describes the far-reaching present changes under way in payments and capital markets. Electronic payment forms are in the process of molding a new financial regime-largely shared and inter dependent-throughout the world. Our earlier Electronic Funds Transfers and Payments (Kluwer, 1987) looked at the new money technology in its initial phases of development and in broad focus. Then, as now, the contributors came from many different disciplines. The synthesis of their diverse views laid out the background for the electronic payments revolution to come, and the great benefits but also risks for segmented sectors of society. The old questions have not gone away; new ones have been added to the agenda. For example, what is the nature of money today amidst an array of computer-based options? What money and turnover concepts are appropriate to the electronic age? What are the effects of high-speed money flows on markets, volatility, money control, even the business cycle? Is the financial system more prone to instability but also to faster correction, given the swift movement of money and payments? At the same time, is privacy imperilled by the ubiquitous computer-linked webs that move both information and money? This second book is thus companion to Electronic Funds Transfers and Payments and expands upon it. Contributors discuss the expectations that have and have not come to fruition, together withthe new issuesofthe past four years.
Six Puzzles in Electronic Money and Banking
Six Puzzles in Electronic Money and Banking - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Six Puzzles in Electronic Money and Banking write by Connel Fullenkamp. This book was released on 2004. Six Puzzles in Electronic Money and Banking available in PDF, EPUB and Kindle.
