Macroeconomics of Digitalization—Evolving Issues and Perspectives

Sakshi Awasthy () and Sarat Dhal
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Sakshi Awasthy: Reserve Bank of India
Sarat Dhal: Reserve Bank of India

Chapter Chapter 14 in India’s Contemporary Macroeconomic Themes, 2023, pp 343-356 from Springer

Abstract: Abstract Despite the rapid pace at which digitalization has permeated various sectors of the economy, the assessment of its macroeconomic implications remains scarce in extant literature. This exploratory article provides a generalized perspective on the impact of ongoing digitalization on key economic indicators related to productivity and economic growth, inflation dynamics, financial markets, and currency demand. Deriving insights from contemporary literature in the field, we posit that the unprecedented advancements in technology can contest various postulates of conventional macroeconomic theory, thereby warranting agile policymaking to recalibrate the economy for the new digital order. This synoptic piece aims to encourage theoretical and empirical research works on the evolving issues of digitalization from the context of developing and emerging market economies.

Keywords: Macroeconomics; Monetary policy; Inflation and Phillip’s curve; Digitalization and payment systems; Economic growth and productivity; Technological change; Currency demand and money supply; E00; E52; E31; E42; O4; O33; E41 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-99-5728-6_14

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DOI: 10.1007/978-981-99-5728-6_14

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