John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and … requires an extension of the circuit theory of money, along the lines of the credit and state money approaches of modern …. Kregel ; Chartalist ; Modern Money Theory ; State Money ; Credit Money ; Default …

estimates of the annual volume of cash payments. Since the volume of check payments (debits to checkable accounts) is regularly … recorded, our estimates of cash payments can be used to estimate the total volume of transactions (MV) from the payment side of … currency” and “missing payments”. The estimated volume of cash payments is so high when compared to personal consumption …

estimates of the annual volume of cash payments. Since the volume of check payments (debits to checkable accounts) is regularly … recorded, our estimates of cash payments can be used to estimate the total volume of transactions (MV) from the payment side of … currency” and “missing payments”. The estimated volume of cash payments is so high when compared to personal consumption …

return flows of the old series (ES1) of €20 banknotes received by the Deutsche Bundesbank. The cash balance of €20 banknotes … shipments of €20 banknotes in the amount of around €12 billion at the end of 2015, the estimated cash balance (resulting from …At the end of 2015, the Deutsche Bundesbank had issued a total net amount of just over €45 billion in €20 banknotes. In …

Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many … distinctive feature of cash - a glance into one's pocket provides a signal for both the remaining budget as well as the level of … past expenses. We propose a theoretical framework which incorporates this feature of cash, and derives implications not …

We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys … United States). Our paper finds cross-country differences - for example, the level of cash usage differs across countries …. Cash has not disappeared as a payment instrument, especially for low-value transactions. We also find that the use of cash …

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 …

We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries: Australia, Austria, Canada …-country differences, for example, the level of cash usage differs across countries. Cash has not disappeared as a payment instrument …, especially for low-value transactions. We also find that the use of cash is strongly correlated with transaction size …

bank issued its own notes. E-money shares many of the characteristics of these bank notes. This paper describes some … bank notes suggests that a privately-issued e-money system can operate efficiently but will require government intervention …

The rise of inflation in 2021 and 2022 surprised many macroeconomists who ignored the earlier surge in money growth … regulatory changes and mutual fund costs that affect the substitutability of money for other financial assets. In the short run …The velocity of broad Divisia money temporarily declines during crises like the Great and COVID Recessions, but later …