Rösl, Gerhard; Seitz, Franz; Tödter, Karl-Heinz - In: Economies : open access journal 7 (2019) 3/67, pp. 1-18
To broaden the operational scope of monetary policy, several authors suggest cash abolition as an appropriate means of breaking through the zero lower-bound. We argue that the welfare costs of bypassing the zero lower-bound by getting rid of cash entirely are analytically equivalent to negative...