"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 …

This paper studies the role of uncertainty in the corporate cash hoarding puzzle. The baseline model is a stochastic … neoclassical growth model featuring idiosyncratic and uninsurable technology shocks and a cash-in-advance constraint on new … investments on the individual firm level. Individual agents' choices regarding cash holdings are analyzed and the effects of the …