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that are held for transaction purposes both in Germany and outside the euro area. The estimation of the volume of €20 … statistical terms, each resident living in Germany was therefore issued with around 30 banknotes of this denomination. Up until … now, it was not clear how many of these German-issued euro banknotes are actually used for payment purposes. Owing to the …
Persistent link: https://www.econbiz.de/10011731375
In the United States prior to 1863 each bank issued its own distinct notes. E-money shares many of the characteristics of these bank notes. This paper describes some lessons relevant to e-money from the U.S. experience with state bank notes. It examines historical evidence on how well the bank...
Persistent link: https://www.econbiz.de/10010346236
U.S. consumers' demand for cash is estimated with new panel micro data for 2008-2010 using econometric methodology … zero, cash demand by consumers using credit cards for convenience (without revolving debt) has the same small, negative …, interest elasticity as estimated in earlier periods and with broader money measures. However, cash demand by consumers using …
Persistent link: https://www.econbiz.de/10010251824
Beginning in 1864, in the United States notes of national banks were the predominant medium of exchange. Each national bank issued its own notes. E-money shares many of the characteristics of these bank notes. This paper describes some lessons relevant to emoney from the U.S. experience with...
Persistent link: https://www.econbiz.de/10010469668
The monetary authority's choice of operating procedure has significant implications for the role of monetary aggregates and interest rate policy on the business cycle. Using a dynamic general equilibrium model, we show that the type of endogenous monetary regime, together with the interaction...
Persistent link: https://www.econbiz.de/10012895445
This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical …-integrated money demand relationships can be established for both the euro area and the US. Furthermore, we find evidence for asset …
Persistent link: https://www.econbiz.de/10010206407
We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys … were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the … United States). Our paper finds cross-country differences - for example, the level of cash usage differs across countries …
Persistent link: https://www.econbiz.de/10010360396
We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries: Australia, Austria, Canada …, France, Germany, the Netherlands, and the United States (conducted 2009 through 2012). Our paper finds important cross …-country differences, for example, the level of cash usage differs across countries. Cash has not disappeared as a payment instrument …
Persistent link: https://www.econbiz.de/10010384150
We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys … were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany, and the Netherlands), and 2012 (the … United States). Our paper finds cross-country differences - for example, the level of cash use differs across countries. Cash …
Persistent link: https://www.econbiz.de/10010384798
Persistent link: https://www.econbiz.de/10001855697