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is often maintained that a high quality of the banknotes in circulation helps the public detect counterfeits. However … Netherlands and Germany. Participants received a set of 200 banknotes with either a high or a low average soil level, based on the …
Persistent link: https://www.econbiz.de/10011452776
Euro coins have a common European side and an individual national side. Thanks to coin migration, coins bearing a … panoply of national sides are in circulation throughout the euro area. In this paper, we model the mixing of coins circulating … that, for the coin denominations €2, €1, 50 cent and 20 cent roughly the same quantity of euro coins migrate from Germany …
Persistent link: https://www.econbiz.de/10012272025
In times of financial distress, central banks provide unlimited liquidity to avoid fire sales. In response, banks raise their demand for collateral assets, and the short-term scarcity of collateral securities leads to higher prices, the Fire Buy premium. To avoid collateral scarcity, central...
Persistent link: https://www.econbiz.de/10011587096
This paper empirically investigates whether individuals withhold a certain amount of cash for precautionary reasons at the point-of-sale (POS) in order to be able to cover future transactions that might have to be paid for in cash. Such behaviour is costly for consumers because it imposes...
Persistent link: https://www.econbiz.de/10010192759
We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries: Australia, Austria, Canada, France, Germany, the Netherlands, and the United States (conducted 2009 through 2012). Our paper finds important cross-country differences, for example, the level of cash...
Persistent link: https://www.econbiz.de/10010384150
Over the past decades, the share of very young children in daycare has increased significantly in many OECD countries, including Germany. Despite the relevance of child health for child development and later life success, the effect of early daycare attendance on health has received little...
Persistent link: https://www.econbiz.de/10014088355
This study analyzes the causal effect of an increase in the retirement age on health. We exploit a sizable cohort-specific pension reform for women using two complementary empirical approaches - a Regression Discontinuity Design and a Difference-in-Differences approach. The analysis is based on...
Persistent link: https://www.econbiz.de/10013191363
Using the exact wording of the ECB's definition of price-stability, we started a representative online survey of German citizens in January 2019 that is designed to measure long-term inflation expectations and the credibility of the inflation target. Our results indicate that credibility has...
Persistent link: https://www.econbiz.de/10012590362
Persistent link: https://www.econbiz.de/10009388757
Housing prices and household borrowing are expected to be tightly connected to each other. Better availability of credit eases liquidity constraints of households, which is likely to lead to higher demand for housing. On the other hand, housing prices may significantly influence household...
Persistent link: https://www.econbiz.de/10012502983