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Bargeld, Zinsen für Sparer, rein staatliche Währungen: Jahrhundertealte Gewissheiten des Geldes sind plötzlich passé …
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to address future deflationary shocks. The existence of cash prevents central banks from cutting interest rates much … below zero. In this paper, we consider the practical feasibility of recent proposals for decoupling cash from electronic … money to achieve a negative yield on cash which would remove the lower bound constraint on monetary policy. We discuss how …
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The elimination of large-denomination banknotes is one of several options to relax the effective-lower-bound constraint on nominal interest rates. We explore timing issues associated with the calling-in of large notes from a central banker's perspective and employ an optimal stopping model to...
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"Introduction - Cash on Trial, findings from a conference jointly organized by SUERF, University of Zurich and …Over millennia, mankind has used hard cash in various forms ranging from shells to gold coins and paper. More recently …, cash has become unpopular in political circles, as it effectively restricts states’ power to tax (explicitly or via …
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