Jon Frost

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.

Jul 1, 2024 | bis.org | Ana M Aguilar |Jon Frost |Rafael A. Guerra |Steven Kamin

FocusDigital payments have become quite popular in advanced economies, but their rapid growth in emerging market and developing economies (EMDEs) is especially noteworthy. Between 2014 and 2021, the number of adults in EMDEs using digital payments increased from 35% to 57%. This raises the question of how digital payments contribute to economic growth and development. To date, macro evidence is limited on the extent to which digital payments impact economic growth.

Jun 6, 2024 | bis.org | Sarah Caroline Bell |Jon Frost |Boris Hofmann |Damiano Sandri

Historically, central banks have at times operated successfully with negative equity. This indicates that a negative equity position of the central bank can be fully consistent with preserving trust in money. In addition, there is no evidence of any systematic relationship between the equity position of central banks and their ability to meet their monetary policy objectives.