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Demand for cash and its determinants : a post-crisis approach

Skibińska-Fabrowska, Ilona - In: Journal of central banking theory and practice 12 (2023) 2, pp. 103-131

The use of cashless payment instruments has been on an increase over many years now. At the same time, demand for cash … times. The increase in demand for cash known as the "banknote paradox" is a phenomenon observed in many economies. It … results from the existence of two streams of demand for cash - transactional and precautionary, and the differences in the …

Persistent link: https://www.econbiz.de/10014316654

The cost of using cash and checks in Uruguay

Álvez, Marcelo; Lluberas, Rodrigo; Ponce, Jorge - In: Journal of central banking theory and practice 9 (2020) 2, pp. 109-129

reduce transaction costs by (partially) replacing less efficient means of payment, e.g. paper-cash and checks. In this paper … we find that the cost of using cash in Uruguay is approximately 0.61% of GDP. Interestingly, 98.1% of this cost is borne … GDP. Overall, replacing paper-cash and checks by other (electronic) means of payment would imply a transaction cost …

Persistent link: https://www.econbiz.de/10012305828

Central bank digital currency : scenarios of implementation and potential consequences for monetary system

Kaczmarek, Patryk - In: Journal of central banking theory and practice 11 (2022) 3, pp. 137-154

cash in total payments is systematically decreasing, which poses the risk of being supplanted by other instruments … cash. The purpose of this paper is to examine the abovementioned issues and indication of potential scenarios for the …

Persistent link: https://www.econbiz.de/10013407508

Market power and bank profitability : evidence from Montenegro and Serbia

Grubišić, Zoran; Kamenković, Sandra; Kaličanin, Tijana - In: Journal of central banking theory and practice 11 (2022) 1, pp. 5-22

This study investigates the relationship between profitability and market power in the banking sector using data from the financial reports of the banks that operated in Serbia and Montenegro, covering the period from the first quarter of 2010 to the last quarter of 2019. In order to investigate...

Persistent link: https://www.econbiz.de/10012805908

Central bank intervention in the inflation targeting

Krušković, Borivoje D. - In: Journal of central banking theory and practice 11 (2022) 1, pp. 67-85

This paper analyses the impact of central bank interven-tions in the inflation targeting regime. The results of empirical stud-ies in this paper show if there is a shock of the exchange rate, which would lead to depreciation of the exchange rate, a central bank may decide to mush instability on...

Persistent link: https://www.econbiz.de/10012805926

Macroprudential transparency and price stability in emerging and developing countries

Trabelsi, Emna - In: Journal of central banking theory and practice 11 (2022) 1, pp. 105-129

One of the focuses of recent literature has been the macroeconomic effects of macroprudential policy instruments. The innovation of this paper is that it studies the effects of transparent macro-prudential policies on price stability. The results presented herein provide the first empirical...

Persistent link: https://www.econbiz.de/10012805963

Toward a new comparative public law of central bank legislation : designing legislative mandates for central bank private securities assets purchases and nominal GDP targeting

Michael, Bryane; Osaulenko, Svitlana - In: Journal of central banking theory and practice 10 (2021) 1, pp. 5-38

What role could unconventional monetary policy - and particularly unconventional policies like private asset purchases under a quantitative easing or lender of last resort scheme - play in influencing economic growth directly? A wide literature in economics explores the pros and cons of using...

Persistent link: https://www.econbiz.de/10012548924

Macroeconomic determinants of MIR interest rate margin in the Euro area

Anastasiou, Dimitrios - In: Journal of central banking theory and practice 10 (2021) 1, pp. 39-53

This study aims to examine the determinants of the MIR interest rate in the Euro area for the period 2003Q1-2015Q3. By employing Fixed and Random Effects as econometric methodologies, I examine whether the MIR rate is affected by the following macroeconomic factors: unemployment rate, inflation...

Persistent link: https://www.econbiz.de/10012548930

Comparative analysis of the banking sector competitiveness in Serbia and Montenegro

Grubišić, Zoran; Kamenković, Sandra; Kaličanin, Tijana - In: Journal of central banking theory and practice 10 (2021) 1, pp. 75-91

Central banks often use certain concentration indices in their official reports to determine the degree of intensity of competition, of which the most common are the concentration ratio and the Herfindahl-Hirschman index. It is important to emphasize that when calculating the value of these...

Persistent link: https://www.econbiz.de/10012548965

Does monetary policy credibility help in anchoring inflation expectations? : evidence from six inflation targeting emerging economies

Güler, Aslı - In: Journal of central banking theory and practice 10 (2021) 1, pp. 93-111

Most emerging market central banks have adopted inflation targeting as their monetary policy system. The heart of inflation targeting system is inflation expectations. The success of a central bank in achieving targets depends on to the extent to which inflation expectations are formed by the...

Persistent link: https://www.econbiz.de/10012548972