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. …

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 …

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 …

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 …

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 …

with the cash-in-advance framework. The model predicts that both higher inflation and financial innovation - that reduces …