ROLE OF NON-BANKS’ ELECTRONIC MONEY IN MONETARY AGGREGATES M0, M1 IN EU, INDIA, SWITZERLAND, SINGAPORE
Keywords:
electronic money, elasticity of M0, M1, currency-deposit ratio
Abstract
In the economy of each state, money is exchanged in cash and cashless forms using electronic money. Electronic money replace paper money issued by the central bank and affects the money supply. In this scientific work is investigated the effect of cash replacement by electronic money of non-banking institutions on the total amount of money supply, namely, monetary aggregates M0 and M1. The assumptions about the circulation of electronic money and their impact on the banking system are formed. This will allow for such managerial decisions regarding the use of electronic money, which will carry out the functions of money and ensure their traffic.
Key words: electronic money, elasticity of M0, M1, currency-deposit ratio.
References
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2. Weatherford J. The History of Money. New York. Three Rivers Press. 1997. –рр. 245-246.
3. Tanaka T. Possible economic consequences of digital cash. First Monday. 1996. Vol. 1/ – № 2.
4. Berentsen A. Digital Money, Liquidity, and Monetary Policy. First Monday. 1997. – Vol. 2. – № 7.
5. Kochergin D. A. Electronic Money. Moscow. DS Market Publishing House. 2011. – 423 p.
6. BIS. Statistics on payment, clearing and settlement systems in the CPMI countries - Figures for 2016. – Available at: https://www.bis.org/cpmi/publ/d172.htm.
7. Reserve requirement (From Wikipedia, the free encyclopedia). – Available at: https://en.wikipedia.org/wiki/Reserve_requirement.
Published
2019-12-16
Section
Статті
