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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...
Persistent link: https://www.econbiz.de/10013315295
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Oil Rents Shocks and Inequality in Iran
Farzanegan, Mohammad Reza; Krieger, Tim - 2018
We study the short and long run responses of income inequality to positive per capita oil and gas rent shocks in Iran …, the Autoregressive-Distributed Lag (ARDL) results show that in the long run, a 10-percent increase in oil and gas rents … different channels potentially affecting the income distribution in Iran. Our analysis can help policymakers evaluate and …
Persistent link: https://www.econbiz.de/10011794215
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Cash in Circulation and the Shadow Economy: An Empirical Investigation for Euro Area Countries and Beyond
Seitz, Franz; Reimers, Hans-Eggert; Schneider, Friedrich - 2018
We analyze the net issues of the national euro area central banks in relation to the dynamics of the shadow economy within a panel cointegration framework. Besides the total net issues, we distinguish between large, medium and small euro banknotes and take due account of other determinants of...
Persistent link: https://www.econbiz.de/10011887403
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The role of monetary aggregates in the policy analysis of the Swiss National Bank
Kirchgässner, Gebhard; Wolters, Jürgen - 2010
Using Swiss data from 1983 to 2008, this paper investigates whether growth rates of the different measures of the quantity of money and or excess money can be used to forecast inflation. After a preliminary data analysis, money demand relations are specified, estimated and tested. Then,...
Persistent link: https://www.econbiz.de/10010266089
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The money-age distribution: empirical facts and limited monetary models
Heer, Burkhard; Maußner, Alfred; McNelis, Paul D. - 2007
The money-age distribution is hump-shaped for the US post-war economy. There is no clear cut relation between the variation of money holdings within generations and age. Furthermore, money is found to be only weakly correlated with both income and wealth. We analyze three motives for money...
Persistent link: https://www.econbiz.de/10010275795
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The quantity theory of money: An assessment of its real linchpin prediction
Hillinger, Claude; Süssmuth, Bernd - 2010
This study approaches the Quantity Theory of Money at a conceptual level, asking how it can be most reasonably interpreted and quantitatively assessed. The resulting approach is straightforward. Unlike studies relying on other methods we find evidence of its linchpin prediction that is not...
Persistent link: https://www.econbiz.de/10010276869
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Comment on Feige's Paper "Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the 'Shadow Economy'?"
Schneider, Friedrich - 2016
This comment provides a reply to Prof. Feige’s paper with the title “Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the ‘Shadow Economy’?”, in which Prof. Feige heavily criticizes me. I show that the same critique which Prof. Feige...
Persistent link: https://www.econbiz.de/10011451424
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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 - 2020
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...
Persistent link: https://www.econbiz.de/10012314861
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Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking
Li, Ye; Mayer, Simon - 2021
and characterize an instability trap. The system is bimodal: stability can last for a long time, but once stablecoins …
Persistent link: https://www.econbiz.de/10012657966
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The Liquidity Premium of Digital Payment Vehicle
Chen, Zefeng; Jiang, Zhengyang - 2022
Do digital payment technologies generate liquidity premia like cash and Treasury? We provide an estimate in the context of the world's largest digital payment platform, Alipay. Our empirical strategy exploits the variation in the timing of the introduction of money market funds that users on...
Persistent link: https://www.econbiz.de/10013427719