Arango, Carlos; Bouhdaoui, Yassine; Bounie, David; … - BANCO DE LA REPÚBLICA - 2014
Despite various payment innovations, today, cash is still heavily used to pay for low-value purchases. This paper … develops a simulation model to test whether standard implications of the theory on cash management and payment choices can …, Germany and the Netherlands, we test the assumption that cash is still the most efficient payment instrument, and the idea …