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Consumption and Capital Mobility in the Nordic Countries

Lindberg, Sara - 1999

I use a consumption-based test to examine the importance of income constraints and the degree of capital mobility across the Nordic countries over the period 1968-96. In particular, I explore the effects of financial deregulation of the 1980s. The estimating equation is derived along the lines...

Persistent link: https://www.econbiz.de/10010321799

On the political economy of financial deregulation

Ertürk, Korkut Alp - 2016

Drawing broadly on the literature on the political economy of the financial crisis, the paper looks at deregulation as a market driven process that culminated in a collective action failure. In the run up to the 2008 Financial Crisis strong competition and moral hazard went hand in hand and that...

Persistent link: https://www.econbiz.de/10011882744

Intrinsic moral hazard

Ertürk, Korkut A. - 2019

The paper argues that financial deregulation incentivized financial firms to take excessive risks and over-expand because it turned social insurance against systemic risk into a common pool (or open) resource. The increased size and complexity of deregulated financial markets in turn raised the...

Persistent link: https://www.econbiz.de/10013269239

U.S. Banking Deregulation, Small Businesses, and Interstate Insurance of Personal Income

Demyanyk, Yuliya; Ostergaard, Charlotte; Sørensen, Bent E. - 2006

We estimate the effects of deregulation of U.S. banking restrictions on the amount of interstate personal income insurance during the period 1970-2001. Interstate income insurance occurs when personal income reacts less than one-to-one to state-specific shocks to output. We find that income...

Persistent link: https://www.econbiz.de/10012143661

Restricting or abolishing cash: An effective instrument for fighting the shadow economy, crime and terrorism?

Schneider, Friedrich - 2017

This paper has four goals: First, the use of cash as a possible driving factor of the shadow economy is investigated …. Second, the use of cash in crime, here especially in corruption, is also econometrically investigated. The influence is … about organized crime are also shown; the importance of cash is diminishing. Third, some remarks about terrorism are made …

Persistent link: https://www.econbiz.de/10011916753

Reserves for all? Central bank digital currency, deposits, and their (non)-equivalence

Niepelt, Dirk - 2018

banking and the abolition of cash I propose an equivalence result according to which a marginal substitution of outside for …

Persistent link: https://www.econbiz.de/10011961435

Do Consumers Pay More Using Debit Cards than Cash? An Experiment

Runnemark, Emma; Hedman, Jonas; Xiao, Xiao - 2014

We conduct an incentivized experiment to test whether the willingness to pay is higher for debit cards compared to cash … for three consumer products. Our findings support this conjecture also after controlling for cash availability, spending …

Persistent link: https://www.econbiz.de/10013208689

Private Bank Money vs Central Bank Money: A Historical Lesson for CBDC Introduction

Grodecka-Messi, Anna - 2019

smooth the profits. The effect on lending is either non-significant or ambiguous. This study of central bank cash …

Persistent link: https://www.econbiz.de/10013208862

Financial Innovation, Payment Choice and Cash Demand – Causal Evidence from the Staggered Introduction of Contactless Debit Cards

Brown, Martin; Hentschel, Nicole; Mettler, Hannes; … - 2020

We examine how an innovation in payment technology impacts on consumer payment choice and cash demand. We study the … reduction in the cash share of payments and no reduction of average cash demand. Treatment effects on payment choice are … strongest among consumers with an intermediate pre-treatment use of cash. Explorative analyses reveal that effects are largely …

Persistent link: https://www.econbiz.de/10013370147

Do credit constraints amplify macroeconomic fluctuations?

Liu, Zheng; Wang, Pengfei; Zha, Tao - 2010

mechanism to explain the observed persistent comovements between housing prices and business investment. We develop such a …

Persistent link: https://www.econbiz.de/10010292216