"banknotes" or "checks." The distinction between the two is that a check must be redeemed by the issuing bank with each use … limits the bank's risk-taking behavior, so that banknotes will be preferred over checks. …

explanation for the continued popularity of checks. An underlying assumption of these studies is that check float operates as a …

Though checks' popularity is now waning in favor of electronic payments, checks were, for much of the twentieth century … payment between local merchants, checks became more versatile through the development of negotiability in sixteenth …-century Europe. The suppression of banknotes in eighteenth-century England further promoted the use of checks. In the United States …

also provide more overdraft credit and bounce a smaller share of checks following preemption. The share of low …