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. Due to the inadequate data availability, the cash balance held for domestic transactions by sector cannot be fully … €2 coins. Only in the case of €2 coins has the cash stock held for transaction purposes made a significant contribution … method of determining the demand for this denomination. Given the overall weakness in the growth of the cash held for …
Persistent link: https://www.econbiz.de/10011109839
recorded, our estimates of cash payments can be used to estimate the total volume of transactions (MV) from the payment side of … estimates of the annual volume of cash payments. Since the volume of check payments (debits to checkable accounts) is regularly … currency” and “missing payments”. The estimated volume of cash payments is so high when compared to personal consumption …
Persistent link: https://www.econbiz.de/10005837536
charged to the merchants, who may be reluctant to accept cards and induce the cardholder to withdraw cash. In this paper, we … empirically verify for the first time the effect of the interchange fee on the decision to withdraw cash and compare it with that … there is a positive correlation between the cash usage and the level of the interchange fees. Accordingly, regulation of the …
Persistent link: https://www.econbiz.de/10011259691
This paper explores the relationship between Milton Friedman’s work and the work on Divisia monetary aggregation, originated by William A. Barnett. The paradoxes associated with Milton Friedman’s work are largely resolved by replacing the official simple-sum monetary aggregates with monetary...
Persistent link: https://www.econbiz.de/10011260064
This paper addresses the perspective of Hayek’s doctrine on monetary arrangements in the economy and his favorable argument for an international central bank over national central bank. I also discussed Hayek’s view on free banking (i.e. for the free issue of bank notes) that would enable...
Persistent link: https://www.econbiz.de/10011260508
relation to the introduction of cash money, including commemorative coinage, iil most European Union countries in the year 2002 …
Persistent link: https://www.econbiz.de/10005260311
This paper is an attempt to contribute to the ongoing debate: should central bank of Pakistan adopt inflation targeting or continue with the monetary targeting as a monetary policy strategy? A pre-requisite for monetary targeting strategy is a stable money demand function, which in turn requires...
Persistent link: https://www.econbiz.de/10009644923
The paper discusses the structural changes taking place in the financial system of the Republic of Croatia after the country became independent. Particular attention is given to the banking system, bankruptcies and rehabilitation of banks. Furthermore, the paper analyzes the development of...
Persistent link: https://www.econbiz.de/10005836443
economies. Over the past 20 years Post Keynesian authors have established conclusively that despite strictly-enforced cash …
Persistent link: https://www.econbiz.de/10005070484
This paper builds monthly time-series of Divisia monetary aggregates for the Gulf area for the period of June 2004 to December 2011, using area-wide data. We also offer an "economic stability" indicator for the GCC area by analyzing the dynamics pertaining to certain variables such as the dual...
Persistent link: https://www.econbiz.de/10011107521