We estimate the demand for transaction and non-transaction cash balances in Canada, Denmark, Iceland, Sweden and Norway … over the last decades using the seasonal method. These countries share many features that are relevant for cash demand, but … nevertheless show large differences in terms of aggregate cash balances. While Canada, Iceland and Denmark have seen increased …

The properties of money commonly referenced in the economics literature were originally identified by Jevons (1876) and … Menger (1892) in the late 1800s and were intended to describe physical currencies, such as commodity money, metallic coins … quantum money. These forms of money have novel properties that have not been studied extensively within the economics …

There is much in our increasingly digitized economies to suggest that the use of cash should fall. However, in almost … developing countries and an extensive set of possible explanatory variables to estimate panel regressions for cash demand. In … new finding is that our estimations point to a negative relationship between cash and corruption, and between cash and …

This paper demonstrates how a target for money growth can be beneficial for an inflation targeting central bank acting … under discretion. Because the growth rate of money is closely related to the change in the interest rate and he growth of … real output, delegating a money growth target to the central bank makes discretionary policy more inertial, leading to …

Cash is being used less and less for making payments in many countries, including Canada and Sweden, which might … suggest that cash will eventually disappear. However, cash in circulation in most countries, including Canada, has been stable … for decades, and even rising in recent years. In contrast, aggregate cash demand in Sweden has been falling steadily. This …

We use an 'unexplained demand for cash' approach to measure the size of the shadow economy in Sweden. The size of the … changes in net financial positions. Moreover, the correlation between the demand for cash that cannot be explained by recorded …

money growth. The backward-looking model displays considerable parameter instability, both from a statistical and economic …