Despite the growing importance of the debit card in most developed countries, there are relatively few academic studies that analyze the impact of such evolution on the demand for cash. Beyond data availability, this research is complicated by the fact that the debit card provides two services...

In this note, we study, test and discuss two original classes of payment aggregation rules based on transaction size models in order to replicate the demand for cash and deposits in the economy. First, we show that some of the aggregation rules call for special consideration since they better...