Electronic bill payment Electronic bill payment Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account. These payments are typically executed electronically as a direct deposit through a national payment system, operated by the banks or in conjunction with the government. Payment is typically initiated by the payer but can also be set up as
Demand for money exogenous volatility. The authors attribute the difference to technological innovations in the financial markets, financial deregulation, and the related issue of the changing menu of assets considered in the definition of money. Later work by Lawrence Ball suggests that the use of adapted aggregates, such as near monies, can produce a more stable demand function. Through his research, Ball was able to show that using the return on near monies produced smaller deviations than previous models. If the demand for money is stable then a monetary policy which consists of a monetary rule which targets the growth rate of some