This paper examines the effects of macroeconomic policy and regulatory environment on mobile money usage. Specifically, we develop an autoregressive distributed lag model to investigate effect key variables tax usage in Uganda. Using monthly data spanning period March 2009 September 2020, find that short run, is positively affected by inflation while financial innovation, exchange rate, interes...

in literature about inflation targeting, main factor is interest rate. in new surveys, price of some assets as housing is important in inflation targeting. iran inflation targeting is based on money changes and is not based on interest rate and housing price. in this paper, we want to survey problems of wrong policy of iran policy makers. we reveal that, using rate of deposit profit and growth ...

This paper estimates a reduced-form model of the Japanese economy that incorporates a role for money in the determination of GDP growth and inflation. Real base money growth is shown to be a significant determinant of GDP growth, suggesting a role for money even under a monetary policy operating regime in which base money is endogenous to the determination of an official interest rate. An aggre...

This paper discusses the effects of asset price volatility on loan and aggregate output in a utility-based approach. In a real dynamic economy with heterogeneous agents, the creditdebt relationship is endogenously determined, given that borrowers are more productive but subject to collateral constraints. Resource allocation among borrowers and lenders affects the aggregate output as well as ass...

Real interest and inflation rates have been very low in many industrialized countries since the Great Recession. In this paper, a mechanism of low and floating real interest and inflation rates is examined based on the concept a “Nash equilibrium of a Pareto inefficient path” and the law of motion for trend inflation. I show that, because the link between the marginal product of capital and the...

Seasonal fluctuations are as large as cyclical fluctuations. Monetary policy in the U.S. has dealt with seasonality by smoothing nominal rates of interest. The original motivation for this was that seasonality in nominal interest rates put recurring strain on the banking system. We build a model of monetary policy in the presence of seasonality which puts financial market conditions in the fore...

Abstract: Central banks have long been interested in obtaining precise estimations of money demand given the fact that the evolution of money demand plays a key role over several monetary variables. One implication of currency substitution is that the exchange rate could serve as another determinant of the demand for money. Due to the recent currency crisis in Iran, it would be important to inv...

Monetary policy is a factor that affects of economic activities country. refers to the use monetary indiactors suc as interest rates, money supply, and exchage rate under control central bank in order achieve stability. Economic stability serves maintain balance costs or prices, so excessive inflation occurs. This study examines effect indicators on inflation. Time series data using analysis mo...