If access is a problem, then simplified procedures and lower thresholds may be sufficient to achieve the objective and, indeed, this is exactly what is being done by means of no-frills accounts. However, if it is because people don’t find adequate value in opening accounts, the challenge of inclusion becomes a little more complicated.
Ifo (2022), Increase in the German Minimum Wage Is Passed On as Higher Prices, 9 September. 6. Galí, J. and Gertler, M. (1999), “Inflation dynamics: A structural econometric analysis”, Journal of Monetary Economics, Vol. 44, No 2, pp. 195-222; and Galı́, J., Gertler, M. and López-Salido, J. D. (2003), „European inflation dynamics”, European Economic Review, Vol 47(4), pp. 759-760. 7.