This study proposed a novel attempt to explain the effect of government support and individual’s perceived susceptibility to COVID-19 in adopting e-Wallet by integrating technology acceptance model (TAM) and health belief model (HBM). A total of 232 valid responses were collected through online survey. The hypotheses were analysed and validated by using the partial least square structural equation modelling (PLS-SEM) approach. The study found that the HBM construct, which is perceived susceptibility, was only mediated by perceived usefulness. Meanwhile, government support was fully mediated by both perceived usefulness and perceived ease of use. The FinTech practitioners should consider the ease of use and usefulness of e-Wallet in fulfilling the needs of the consumers. In addition, instead of subsidising the consumers, the Government should also focus on the public facilities such as the stable connectivity that allow the consumers to stay connected and trust on the connectivity for e-Wallet. This study adopted holistic and integrative modesl which are TAM and HBM to explain the intention to adopt e-Wallet services during COVID-19 pandemic.
The term advertising refers to the strategy that affects consumer behaviour and induces higher household final consumption expenditure (HFCE), which is associated with incredibly demanding for money upon transaction usages and a reduction in search costs. The model of money demand that is stable, reliable and well defined is crucial for central banks in formulating their monetary policy to minimise the gap between the supply and demand of money. Hence, this paper examines the influence of expenditure in advertising (ADEX) towards the level of demand for money among the households in Russia. An approach known as Autoregressive distributed lag (ARDL) is opted to model the money demand function (MDF) of Russia and nine years of quarterly data from 2008 to 2016 have been used in the estimation. Empirical findings reveal that ADEX not only positively influences the Russian’s money demand in long term, its MDF also becomes more superior when the ADEX has been added. As such, this study suggests that ADEX can be taken into account as a non-traditional explanatory variable in the formulation of a stable and well-specified MDF for the case in Russia.
This study investigates the significance of Divisia monetary aggregates in formulating the monetary policy in Indonesia. A money demand function has been constructed to compare the relative performance for Simple-sum M1 and M2 (SSM1 and SSM2) and Divisia M1 and M2 (DM1 and DM2) monetary aggregates. The econometrics testing procedures that have been utilized in the estimation include unit root test, cointegration test, Vector Error Correction Model (VECM), Granger causality test and residual test. Empirical findings indicate that only DM1 model yields credible result amongst all of the money demand models. The obtained coefficients for DM1 model are consistent with a prior theoretical expectation and carry plausible magnitudes. The DM1 model is satisfactory as proven by the diagnostic tests. Divisia monetary aggregates are proven not only theoretical superior but also empirical valid as useful measurement of money for the case of Indonesia. The central bank of Indonesia may consider using Divisia monetary aggregates as the policy variables in formulating monetary policy.
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