DIGITALIZATION OF THE ECONOMY

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Elena Salnikova

Abstract

Digitalization may be viewed as a technology/supply shock which affects the main economic aggregates, notably via competition, productivity and employment effects, as well as through its interaction with institutions and governance. Digital technologies are also changing the ways in which firms do business and interact with their customers and suppliers. Understanding digital transformation and the channels through which it influences the economy is therefore increasingly relevant for the conduct of monetary policy.

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