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According to estimates using the seasonal method, the volume of euro coins held for transaction purposes in Germany in … Bundesbank) euro coins in circulation. 76% of the total volume of coins held for transaction purposes was accounted for by €1 and … €2 coins. Only in the case of €2 coins has the cash stock held for transaction purposes made a significant contribution …
Persistent link: https://www.econbiz.de/10011109839
, because of speculation moves in and out of the U.S. Dollar and the Euro depending on their return, increasing volatility. U … influence in this most important policy arena. It will focus on the U.S. Dollar decline as the Reserve Currency, on the Euro …
Persistent link: https://www.econbiz.de/10008567957
Der Transaktionskassenbestand von Euro-Münzen in Deutschland betrug im Jahr 2011 nach Schätzungen mit der saisonalen … Methode 2,3 Mrd. €, was etwa 36 % des gesamten deutschen (von der Deutschen Bundesbank emittierten) Euro …-Münzumlaufs entspricht. 76 % dieses Transaktionskassenbestandes entfiel auf die 1-Euro- und die 2-Euro-Münze. Nur bei letzterer hat die …
Persistent link: https://www.econbiz.de/10011111202
charged to the merchants, who may be reluctant to accept cards and induce the cardholder to withdraw cash. In this paper, we … empirically verify for the first time the effect of the interchange fee on the decision to withdraw cash and compare it with that … there is a positive correlation between the cash usage and the level of the interchange fees. Accordingly, regulation of the …
Persistent link: https://www.econbiz.de/10011259691
The broad aim of this paper is to estimate the money demand function for the case of six Gulf Cooperation Council countries. By applying panel cointegration tests, the empirical results reveal strong evidence of cointegration between the variables of the model for individual countries as well as...
Persistent link: https://www.econbiz.de/10011212951
This paper addresses the perspective of Hayek’s doctrine on monetary arrangements in the economy and his favorable argument for an international central bank over national central bank. I also discussed Hayek’s view on free banking (i.e. for the free issue of bank notes) that would enable...
Persistent link: https://www.econbiz.de/10011260508
The monetarism, as I have tried to outline in this work is based on the ideas of the American professor Milton Friedman, who tried to revitalize and reconfigure the old quantity theory of money. These ideas were transposed and discussed by authors like Ion Pohoață, Tiberiu Brăilean or Al....
Persistent link: https://www.econbiz.de/10009325676
The Friedman rule is strongly immune to most model modifications although it has not actually been observed. The Friedman rule implicitly assumes that a government is perfectly under the control of the representative household. This paper shows that, if a government is not perfectly under the...
Persistent link: https://www.econbiz.de/10005790055
The emerging consensus in monetary policy and business cycle analysis is that money aggregates are not useful as an intermediate target for monetary policy or as an information variable. The uselessness of money as an intermediate target is driven by empirical research that suggests that money...
Persistent link: https://www.econbiz.de/10008529232
The current ruble crisis causes much trouble for many of those eastern European countries like Russia and its neighbour countries: Strong ruble depreciation and high inflation for consumer goods are its most negative consequences. Because the ruble is only a national currency, but not a world...
Persistent link: https://www.econbiz.de/10011184585