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Cash in circulation and the shadow economy : an empirical investigation for Euro area countries and beyond
Seitz, Franz; Reimers, Hans-Eggert; Schneider, Friedrich - 2018
banknotes and take due account of other determinants of cash demand. We find a significant and positive relationship between the … cash demand equation including the shadow economy. …
Persistent link: https://www.econbiz.de/10011872942
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Less-cash or more-cash? : determinants and trends of currency in circulation in a panel of 17 economies
Chandrakamal, Kumar; Kumar, Pramod - 2023
Digital payments are growing rapidly, and the use of cash seems to be declining, at least in advanced economies in … Europe and the U.S. However, the literature on payment systems provides an interesting perspective- cash, or currency, when … are also significant across a group of heterogeneous countries. Interest rates are found to affect the demand for cash …
Persistent link: https://www.econbiz.de/10014424236
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Payment innovations, the shadow economy and cash demand of households in euro area countries
Reimers, Hans-Eggert; Schneider, Friedrich; Seitz, Franz - 2020
panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and …' cash holdings, the volume of transactions and the size of the shadow economy irrespective of country size for all euro area …We analyze for the first time cash holdings of private households in all euro area countries from 2002 to 2019 within a …
Persistent link: https://www.econbiz.de/10012291866
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Cash in Circulation and the Shadow Economy : An Empirical Investigation for Euro Area Countries and Beyond
Seitz, Franz - 2018
banknotes and take due account of other determinants of cash demand. We find a significant and positive relationship between the … cash demand equation including the shadow economy …
Persistent link: https://www.econbiz.de/10012912426
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A microfounded model of money demand under uncertainty, and its empirical validation using cointegration and rolling-window dynamic multiplier analysis
Größl, Ingrid; Tarassow, Artur - 2015
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account leads to ambiguous effects w.r.t. to the...
Persistent link: https://www.econbiz.de/10010520781
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A microfounded model of money demand under uncertainty, and some empirical evidence
Größl, Ingrid; Tarassow, Artur - 2018
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account where linearization procedures in our...
Persistent link: https://www.econbiz.de/10011790638
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Corporate sector cash holding : optimal levels, macro context, or external shocks?
Berent, Tomasz; Śniechowski, Maciej - In: International journal of management and economics 59 (2023) 4, pp. 297-314
cash holding. To do this, we use the new data for Poland and review original datasets from Bates et al. [2009] for the U ….S. We find no trace of a trend for Poland and believe most trends for the U.S. come from the cash piling toward the end of … the sample period. At best, the U.S. trend applies merely to small firms. We believe cash holding is a period …
Persistent link: https://www.econbiz.de/10014476839
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Long and Plosser meet Bewley and Lucas
Dong, Feng; Wen, Yi - 2018
We develop a N-sector business cycle network model a la Long and Plosser (1983), featuring heterogenous money demand a la Bewley (1980) and Lucas (1980). Despite incomplete markets and a well-defined distribution of real money balances across heterogeneous households, the enriched N-sector...
Persistent link: https://www.econbiz.de/10011911508
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Currency substitution : evidence from Nigeria
Doguwa, Sani I. - In: CBN journal of applied statistics 5 (2014) 2, pp. 1-23
This paper examines the existence, causes and effects of currency substitution in Nigeria by estimating conventional money demand equations based on a partial adjustment and an autoregressive distributed lag models using three definitions of monetary aggregates. The behavior of the foreign...
Persistent link: https://www.econbiz.de/10011488762
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The (in)stability of money demand in the Euro area
Nautz, Dieter; Rondorf, Ulrike - 2010
The instability of standard money demand functions has undermined the role of monetary aggregates for monetary policy analysis in the euro area. This paper uses country-specific monetary aggregates to shed more light on the economics behind the instability of euro area money demand. Our results...
Persistent link: https://www.econbiz.de/10008664568