Suchergebnisse

Cashless economy is a situation in which the flow of cash within an economy is non-existent and all transactions are done through electronic media channels. Prime Minister Narendra Modi, has expressed his views, on moving towards a cashless economy and creating an Indian cashless society, for betterment of Indian economy and encouraged people of India, to use cashless transactions, consider mobile phone usage, as a wallet and a bank. Moreover, the cash culture in India is dominant and people prefer to use cash wherever possible. In another step towards a cashless economy, a new service (UPI) has been recently launched that will allow for transaction using two smartphones. This is helpful for secure transactions for people who are not technology savvy. Aadhaarenabled payment system (AEPS) also used as cashless transactions. Government also promoting mobile wallets, people does not need a debit card, credit card or internet banking password for making payment using a mobile wallet. In this just load money in the wallet via IMPS and use it on the move. People can download mobile wallet app from play store. 'Digital India' focuses on transforming India in to a digitally empowered and knowledge economy. Bharat Interface for Money (BHIM) App also launched by government to promotes cashless transactions.

Cashless economy is a situation in which the flow of cash within an economy is non-existent and all transactions are done through electronic media channels. Prime Minister Narendra Modi, has expressed his views, on moving towards a cashless economy and creating an Indian cashless society, for betterment of Indian economy and encouraged people of India, to use cashless transactions, consider mobile phone usage, as a wallet and a bank. Moreover, the cash culture in India is dominant and people prefer to use cash wherever possible. In another step towards a cashless economy, a new service (UPI) has been recently launched that will allow for transaction using two smartphones. This is helpful for secure transactions for people who are not technology savvy. Aadhaar-enabled payment system (AEPS) also used as cashless transactions. Government also promoting mobile wallets, people does not need a debit card, credit card or internet banking password for making payment using a mobile wallet. In this just load money in the wallet via IMPS and use it on the move. People can download mobile wallet app from play store. 'Digital India' focuses on transforming India in to a digitally empowered and knowledge economy. Bharat Interface for Money (BHIM) App also launched by government to promotes cashless transactions.

Canzoneri and Diba (2004) show that the Taylor principle is not a panacea for equilibrium determinacy in a model where bonds and money provide liquidity services to households. We consider a cashless New Keynesian model with two types of government bonds. One bond provides transaction services, whereas the other is used only as a store of value. We show that the Taylor principle is still sacrosanct, and that the results of Leeper (1991) are confirmed.

The present paper introduces two bonds in a standard New-Keynesian model to study the role of segmentation in bond markets for the determinacy of rational expectations equilibria. We use a strongly-separable utility function to model 'liquid' bonds that provide transaction services for the purchase of consumption goods. 'Illiquid' bonds, instead, provide the standard services of store of value. We interpret liquid bonds as mimicking short-term instruments, and illiquid bonds to represent long-dated instruments. In this simple setting, the expectation hypothesis holds after log-linearizing the model and after pricing the bonds according to an affine scheme. We assume that monetary policy follows a standard Taylor rule. In this context, the inflation targeting parameter should be higher than one for determinacy of rational expectations equilibria to be achieved. We compute an analytical solution for the bond pricing kernel. We also show that the possibility of obtaining this analytical solution depends on the type of utility function. When utility is weakly separable between consumption and liquid bonds, the Taylor principle holds conditional to the output and inflation coefficients in the Taylor rule. Achieving solution determinacy requires constraining these coefficients within bounds that depend on the structural parameters of the model, like the intertemporal elasticity of consumption substitution.

For every economy, money is a critical medium of exchange. Money emerges as an intermediary and store of values to improve a barter system. Cashless finance endures utilization generally digital money or plastic without money or currency in papery appearance. The moderate of regulating economic activity endure possibly the massive motivator toward advance the digital economy. This research scrutinizes the progress of embrace cashless payment on economic development and growth of Malaysia. Due to rapid growth in the digital economy, electronic money transactions in Malaysia have increased significantly from in the last fifteen years. There is a positive trend in electronic money usage. The increases caused by the awareness of the society and the government that encourages in using electronic money. At the same time, the velocity of paper money in Malaysia tends to decrease during the same period. While there is a negative trend in the velocity of money, the money supply (M1) has increased in order to maintain an economic growth of the country. ; Esta investigación examina el progreso de la adopción de pagos sin efectivo en el desarrollo económico y el crecimiento de Malasia. Debido al rápido crecimiento de la economía digital, las transacciones de dinero electrónico en Malasia han aumentado significativamente en los últimos quince años. Hay una tendencia positiva en el uso del dinero electrónico. Los aumentos causados por la conciencia de la sociedad y el gobierno que fomenta el uso del dinero electrónico. Al mismo tiempo, la velocidad del papel moneda en Malasia tiende a disminuir durante el mismo período. Si bien hay una tendencia negativa en la velocidad del dinero, la oferta de dinero (M1) ha aumentado para mantener el crecimiento económico del país.

For every economy, money is a critical medium of exchange. Money emerges as an intermediary and store of values to improve a barter system. Cashless finance endures utilization generally digital money or plastic without money or currency in papery appearance. The moderate of regulating economic activity endure possibly the massive motivator toward advance the digital economy. This research scrutinizes the progress of embrace cashless payment on economic development and growth of Malaysia. Due to rapid growth in the digital economy, electronic money transactions in Malaysia have increased significantly from in the last fifteen years. There is a positive trend in electronic money usage. The increases caused by the awareness of the society and the government that encourages in using electronic money. At the same time, the velocity of paper money in Malaysia tends to decrease during the same period. While there is a negative trend in the velocity of money, the money supply (M1) has increased in order to maintain an economic growth of the country. ; Esta investigación examina el progreso de la adopción de pagos sin efectivo en el desarrollo económico y el crecimiento de Malasia. Debido al rápido crecimiento de la economía digital, las transacciones de dinero electrónico en Malasia han aumentado significativamente en los últimos quince años. Hay una tendencia positiva en el uso del dinero electrónico. Los aumentos causados por la conciencia de la sociedad y el gobierno que fomenta el uso del dinero electrónico. Al mismo tiempo, la velocidad del papel moneda en Malasia tiende a disminuir durante el mismo período. Si bien hay una tendencia negativa en la velocidad del dinero, la oferta de dinero (M1) ha aumentado para mantener el crecimiento económico del país.

Demonetization in India has given a boost to digital payments and has encouraged people to go cashless. The government of India in tandem with RBI has been setting out plans to encourage electronic payments that enable India to move towards cashless economy, with the aim to curb the flow of black money and circulation of counterfeit currency. With the advent of technology, consumers have enormous options of making payments through debit cards, credit cards and internet banking, which facilitates the payment for the transactions more convenient and accessible. With the increased penetration of smart phones usage amongst Indians, mobile payments is gaining grounds in India. Besides being used to access internet, people use smart phones to store receipts, business cards and bills. But of late smart phones function as leather wallets, commonly known as "mobile wallet" or M-Wallet. M-Wallet services help the smart phones users to transfer money from bank to m-wallet and use that money to pay for services such as shopping, tickets, recharging and bill payments. M-Wallet not only offers convenience and security but also offers affordability over other modes of payment especially when transferring of money is involved. India is witnessing growth of M-wallet service providers like Paytm, Mobikwik, Vodafone m-pesa and others. The purpose of this study is to analyze and find out the status of adoption of M-wallet services and to find out the gender and age based variance in adoption of M-wallet modes of cashless payments/ transactions. The findings of this study suggest that adoption of M-wallet has increased due to three main factors convenience, ease of use, compulsion after demonetization. It has been found that there is gender and age based variance in the adoption of M-wallet.

The ongoing pandemic has resulted in a disruption of the life of all citizens and impacted all the spheres, more so the financial system because the Pandemic and its aftermath has shut all economic activity except those which as per the government directives are considered the most essential. This has deeply impacted private consumption, external trade as well as investment in the economy. Accordingly, both in retail stores and e-commerce orders, a common strand is that many of the consumers are now paying bills via digital payment mechanisms and taking contactless delivery of goods wherever possible. "Digital financial transaction systems, e-wallets and apps, online transactions using e-banking, usage of Plastic money (Debit and Credit Cards), etc. have recorded a substantial increase in demand during the crisis". The objective of the present paper is to examine and analyze the digital finance transactions in selected cities during the ongoing pandemic

This paper proposes a flexible-price theory of the role of money in an economy with incomplete idiosyncratic risk sharing. When the risk premium goes up, money provides a safe store of value that prevents interest rates from falling, reducing investment. Investment is too high during booms when risk is low, and too low during slumps when risk is high. Monetary policy cannot correct this: money is superneutral and Ricardian equivalence holds. The optimal allocation requires the Friedman rule and a tax/subsidy on capital. The real effects of money survive even in the cashless limit. (JEL E32, E41, E43, E44, E52)

Стаття присвячена дослідженню трендів розвитку роздрібної торгівлі в умовах цифрової економіки в світових масштабах та тенденцій електронної комерції в економіці України. Стрімкі темпи розвитку інноваційних Інтернет технологій суттєво змінили підходи до організації роздрібної торгівлі та ведення торгівельної діяльності в умовах викликів цифрової економіки. Відтак, у сучасній економіці електронну комерцію слід розглядати як інноваційну форму роздрібної торгівлі як наслідок, управляти нею з урахуванням сучасних тенденцій.В ході досліджень проаналізовано основні світові тренди розвитку електронної комерції, виокремлено десять ключових відмінностей сучасної електронної торгівлі від традиційної концепції роздрібної торгівлі, зокрема: прозорість та екологічність, стримування повернення товарів, регіональне оподаткування, Progressive Web App (PWA), соціальні мережі, штучний інтелект, маркування QR-кодом, Інтернет-магазини - маркетплейси, сегмент покупців-автомобілістів, синдикований контент.Розкрито головні тенденції розвитку електронної торгівлі в Україні, визначено десять основних напрямків розвитку в сучасних умовах діджиталізації економіки, зокрема: технології AR і VR, розвиток cashless, безпека електронного документообігу, онлайн-сервіси перевірки надійності, послуги trade-in, мобільний пошук магазинів, сервіси зворотного зв'язку, бізнес-моделі дропшіппінгу, власні торгові марки, програми лояльності в CRM.Засвідчено статистичними даними, що за показниками Global Competitiveness Index 2018 не зважаючи на несприятливі умови політико-економічного середовища Україна має значний потенціал у розвитку індустрії електронної комерції завдяки достатньо високому рівню освіти населення, можливостей розвитку ринку, ступеню адоптації ІКТ та можливості впровадження інновацій. ; The article is devoted to the research of retail trade trends in the digital economy on a global scale and trends of e-commerce in the Ukrainian economy.The rapid growth of development of innovative Internet technologies has significantly changed the approaches to the organization of retail and trading activities in the face of the challenges of the digital economy.Therefore, in the modern economy, e-commerce should be considered as an innovative form of retail trade and, as a result, should be managed in accordance with modern trends.The research analyzed the main global trends of e-commerce development, identified ten key differences of modern e-commerce from the traditional concept of retail trade, in particular: transparency and environmental friendliness, deterrence of goods return, regional taxation, Progressive Web App (PWA), social networks, artificial intelligence, labeling with QR code, online stores - marketplaces, a segment of customers-motorists, syndicated content.The main trends in the development of e-commerce in Ukraine are revealed, ten key directions of development in modern conditions of the digitalization economy are identified, in particular: AR and VR technologies, cashless development, electronic document security, online reliability testing services, trade-in services, mobile search for stores, feedback services, drop shipping business models, own trade brands, loyalty programs in the CRM.Witnessed by statistics, that, according to figures Global Competitiveness Index 2018 and despite the unfavorable political and economic environment, Ukraine has significant potential in the development of e-commerce industry due to a fairly high level education of the population, opportunities of market development, the degree of ICT adaptation and innovation opportunities.