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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 as substitutes to cash payments and the role of the shadow economy …
Persistent link: https://www.econbiz.de/10012314861
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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
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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
banknotes and take due account of other determinants of cash demand. We find a significant and positive relationship between the … cash demand equation including the shadow economy. …
Persistent link: https://www.econbiz.de/10011887403
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Reserves for All? Central Bank Digital Currency, Deposits, and their (Non)-Equivalence
Niepelt, Dirk - 2018
banking and the abolition of cash I propose an equivalence result according to which a marginal substitution of outside for …
Persistent link: https://www.econbiz.de/10011931926
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A simple model of health insurance competition
Kemnitz, Alexander - 2010
This paper investigates competition between health insurance companies under different financing regulations. We consider two alternatives advanced in recent German health care reform discussions: competition by contribution rates (health contributions) and by fees (health premia). We find that...
Persistent link: https://www.econbiz.de/10010274910
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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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Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking
Li, Ye; Mayer, Simon - 2021
Stablecoins rise to meet the demand for safe assets in decentralized finance. Stablecoin issuers transform risky reserve assets into tokens of stable values, deploying a variety of tactics. To address the questions on the viability of stablecoins, regulations, and the initiatives led by large...
Persistent link: https://www.econbiz.de/10012657966