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Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data
Bagnall, John; Bounie, David; Huynh, Kim P.; Kosse, Anneke - 2014
We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys … United States). Our paper finds cross-country differences – for example, the level of cash usage differs across countries …. Cash has not disappeared as a payment instrument, especially for low-value transactions. We also find that the use of cash …
Persistent link: https://www.econbiz.de/10013370109
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Why central banks (and money) rule the roost”
Sardoni, Claudio - 2006
Some have argued that a significant decrease in the demand for money, due to financial innovations, could imply that central banks are unable to implement effective monetary policies. This paper argues that central banks are always able to influence the economy's interest rates, because their...
Persistent link: https://www.econbiz.de/10010266526
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Proposals for monetary reform: A critical assessment using the general quantity equation by Wolfgang Stützel
Tarne, Ruben - 2018
Europe is still suffering from the turmoil created by the Great Financial Crisis. Finding solutions to the danger of new financial crises is an important criterion for a stable European Union. Proponents of the Sovereign Money System (SMS) identify the ability of private banks to create money as...
Persistent link: https://www.econbiz.de/10011812478
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Reserves for all? Central bank digital currency, deposits, and their (non)-equivalence
Niepelt, Dirk - 2018
central bank money. After distinguishing RFA from cryptocurrencies and relating the proposal to discussions about narrow … banking and the abolition of cash I propose an equivalence result according to which a marginal substitution of outside for … inside money does not affect macroeconomic outcomes. I identify key conditions on bank and government (central bank …
Persistent link: https://www.econbiz.de/10011961435
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Monetary policy strategies of the European Central Bank and the Federal Reserve Bank of the US
Sardoni, Claudio; Wray, L. Randall - 2005
central bank ; fiscal policy ; aggregate demand ; growth …
Persistent link: https://www.econbiz.de/10010276452
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Changes in central bank procedures during the subprime crisis and their repercussions on monetary theory
Lavoie, Marc - 2010
The subprime financial crisis has forced several North American and European central banks to take extraordinary measures and to modify some of their operational procedures. These changes have made even clearer the deficiencies and lack of realism in mainstream monetary theory, as can be found...
Persistent link: https://www.econbiz.de/10010286547
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Transaction Costs, Money and Units of Account
Bengtsson, Ingemar - 2005
In the paper, an analogy with length measurement is applied in order to explore the nature of the unit for value measurement, i.e. the unit of account. As the meter is defined as the length traveled by light in vacuum during 1/299 792 458 of a second, the unit of account krona is defined as the...
Persistent link: https://www.econbiz.de/10013208484
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Money and Reciprocity
Hens, Thorsten; Vogt, Bodo - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003
Based on an experimental analysis of a simple monetary economy we argue that a monetary system is more stable than one would expect from individual rationality. Weshow that positive reciprocity stabilizes the monetary system, provided everyparticipant considers accepting money as a reasonable...
Persistent link: https://www.econbiz.de/10005858586
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On the Micro-foundations of Money : The Capitol Hill Baby-Sitting Co-op
Hens, Thorsten; Schenk-Hoppe, Klaus Reiner; Vogt, Bodo - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003
This paper contributes to the micro-foundation of money in centralizedmarkets with idiosyncratic uncertainty. It shows existence of stationarymonetary equilibria and ensures that there is an optimum quantity ofmoney. The rational solution of our model is compared with actual be-havior in a...
Persistent link: https://www.econbiz.de/10005858589
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How Do Debit Cards Affect Cash Demand? Survey Data Evidence
Stix, Helmut - 2003
This paper analyzes how EFT-POS payments and ATM withdrawals affect purse cash demand. In particular, survey data about … Austrian individuals are employed to estimate a cash demand equation which takes account of sample selection effects. The … results reveal that purse cash demand is significantly affected by debit card usage and that there are significant differences …
Persistent link: https://www.econbiz.de/10013369999