ASB Research Series

ASB RESEARCH SERIES

TitleResearchersDescriptionSeries Type
Digital Transformation: Some Implications for Financial and Macroeconomic StabilityHans GenbergVirtual AI-assisted financial intermediation is challenging financial intermediation and payment services that are based on personal contacts. Digital transformation is changing how and by whom financial services are provided, how payments are made within an economy and across borders, and how and where goods and services are produced in a globalized economy. These transformations bring significant benefits in the form of greater variety and convenience of financial services, faster speed of payment transactions, and more efficient production processes. But there are also potential costs. Traditional commercial banking models are challenged by unregulated FinTech and BigTech firms, possibly threatening systemic financial stability. Globalization of production processes has led to greater spillovers of economic fluctuations across borders, thereby complicating macroeconomic policy decisions.Working Paper
The COVID-19 Hardship Survey: An Evaluation of the Prihatin Rakyat Economic Stimulus PackageSam Flanders, Melati NungsariThe COVID-19 pandemic has caused a global crisis, and, while Malaysia has controlled the infection more than most countries with early exposure to the virus, the Movement Control Order (MCO) has required major economic sacrifices. This, in addition to a COVID-19-caused global economic slowdown, threatens a budget crisis for Malaysian households.Discussion
COVID-19 in Italy: an Analysis of Death Registry DataGabriele CiminelliWe analyze daily death registry data for a sample of 1,161 Italian municipalities in the 7 regions most severely hit by COVID-19. Daily deaths almost tripled in the first thirty days since the onset. Overall, COVID-19 might have killed 0.1% of the local population in just forty days. Working Paper