Jon Frost

4 days ago | bis.org | Ryan Banerjee |Jon Frost |Michael Chui

BIS Bulletin | No 101 | Today's two-tier monetary system performs a crucial role: providing money in an elastic way through overdrafts and lines of credit in the face of uncertainty and unforeseen shocks. During the Covid-19 pandemic, such elasticity allowed central banks and commercial banks to provide a discretionary increase in the money supply to manage global shocks.

2 months ago | bis.org | Linda Jeng |Jon Frost |Elisabeth Noble |Chris Brummer

FocusAccess to data is a critical competitive factor within and beyond the financial system. Data access may be achieved through regulatory interventions, such as open banking, or through mergers. We assess how mergers among data-rich firms can impact competition, drawing on examples from the payments and technology sectors. We review how competition authorities are considering data in merger assessments, identifying limitations and proposing new metrics to support data valuation.

Sep 26, 2024 | aei.org | Steven Kamin |Ana M Aguilar |Jon Frost |Rafael A. Guerra

AbstractWe examine the relationship between digital payment innovation, economic growth and informal activities in 101 economies over 2014–19. We find that a one-percentage point increase in digital payments use is associated with increases in the growth of GDP per capita of 0.10 percentage points over a two-year period, and a decline in the share of informal sector employment of 0.06 percentage points over a two-year period.

Sep 17, 2024 | aei.org | Ana M Aguilar |Julian Caballero |Julián Caballero |Jon Frost |Christian Upper

AbstractAcross the Americas, low output and productivity growth are key policy challenges. Growth expectations for many countries have fallen in recent years, with Latin America and the Caribbean especially lagging behind emerging market peers. In many cases, total factor productivity growth has been negative for decades. This is due to several structural factors, including low overall investment, low educational attainment, high informality, and inadequate infrastructure.

Jul 8, 2024 | aei.org | Steven Kamin |Ana M Aguilar |Jon Frost |Rafael A. Guerra

By Ana Aguilar, Jon Frost, Rafael Guerra, Steven Kamin and Alexandre TombiniAbstractWe examine the relationship between digital payment innovation, economic growth and informal activities in 101 economies over 2014–19.