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Payment Innovations, the Shadow Economy and Cash Demand of Households in Euro Area Countries

Reimers, Hans-Eggert; Schneider, Friedrich; Seitz, Franz - 2021

We analyze for the first time cash holdings of private households in all euro area countries from 2002 to 2019 within a … panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and … opportunity costs, we concentrate on cashless payments media as substitutes to cash payments and the role of the shadow economy …

Persistent link: https://www.econbiz.de/10013315295

The Pandemic, Cash and Retail Payment Behaviour : Insights from the Future of Payments Database

Auer, Raphael A.; Cornelli, Giulio; Frost, Jon - 2023

? What do they imply for the future of cash and digital payments? We assemble a new “Future of Payments” database on retail … countries. We find that card-not-present payments, payment app downloads and the volume of cash in circulation all rose in weeks …

Persistent link: https://www.econbiz.de/10014261473

Trade retaliation in a monetary-trade model

Whalley, John; Yu, Jun; Zhang, Shunming - 2009

We explore how outcomes of trade policy retaliation (Nash tariff games) are affected when trade simultaneously takes places geographically across countries and through time via financial intermediation. In such models deficits and surpluses in goods trade are endogenously determined, and...

Persistent link: https://www.econbiz.de/10010264539

The Demand for Fact-Checking

Chopra, Felix; Haaland, Ingar; Roth, Christopher - 2021

Using a large-scale online experiment with more than 8,000 U.S. respondents, we examine how the demand for a politics newsletter changes when the newsletter content is fact-checked. We first document an overall muted demand for fact-checking when the newsletter features stories from an...

Persistent link: https://www.econbiz.de/10013228860

A Monetary Equilibrium with the Lender of Last Resort

Matsuoka, Tarishi; Watanabe, Makoto - 2023

This paper studies the role of a lender of last resort (LLR) in a monetary model where a shortage of a bank’s monetary reserves (a liquidity crisis) occurs endogenously. We show that discount window lending by the LLR is welfare-improving but reduces banks’ ex-ante incentive to hold monetary...

Persistent link: https://www.econbiz.de/10014356320

Endogenous Timing and Income Inequality in the Voluntary Provision of Public Goods : Theory and Experiment

Itaya, Jun-ichi - 2019

This paper investigates how the heterogenous incomes and preferences of potential donors affect the timing of contribution decisions when it is endogenously determined by contributors themselves. More specifically, we use a simple setting with two donors, Cobb-Douglas preferences, and complete...

Persistent link: https://www.econbiz.de/10012892149

The Purity of Impure Public Goods

Brumme, Anja; Buchholz, Wolfgang; Rübbelke, Dirk T. G. - 2021

In this paper we demonstrate how the impure public good model can be converted into a pure public good model with satiation of private consumption, which can be handled more easily, by using a variation of the aggregative game approach as devised by Cornes and Hartley (2007). We point out the...

Persistent link: https://www.econbiz.de/10013250030

Dynamic Games of Common-Property Resource Exploitation When Self-Image Matters

Van Long, Ngo - 2019

The purpose of this paper is to model the influence of Kantian moral scruples in a dynamic environment. Our objectives are two-fold. Firstly, we investigate how a Nash equilibrium among agents who have moral scruples may ensure that the exploitation of a common property renewable resource is...

Persistent link: https://www.econbiz.de/10012860769

General Equilibrium and Dynamic Inconsistency

Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2022

We study the role of expectations of naive agents in a general equilibrium version of the Ramsey model with quasi-hyperbolic discounting. When agents recognize others’ naivete, as strongly suggested by empirical evidence, they revise consumption paths, correctly anticipating prices in a...

Persistent link: https://www.econbiz.de/10014080053

A General Equilibrium Theory of Occupational Choice Under Optimistic Beliefs About Entrepreneurial Ability

Dell'Era, Michele - 2019

This paper studies the impact of optimism on occupational choice using a general equilibrium framework. The model shows that optimism has four main qualitative effects: it leads to a misallocation of talent, drives up input prices, raises the number of entrepreneurs, and makes entrepreneurs...

Persistent link: https://www.econbiz.de/10012892272