The present paper provides an overview on current developments of cash usage and issue of central bank digital currency … (CBDC) in the euro area and proposes a possible design of a digital euro that allows for instant offline payments. Cash … regulations and supply-side restrictions by commercial banks. Nonetheless, overall demand for euro cash remained strong and even …

An upward trend in the share of cash in GDP has been observed since the beginning of the 21st century and has not yet … well confirmed as a determinant of the cash/GDP ratio. The novelty of this study is primarily considering new determinants … of the share of cash in GDP (including in particular monetization and financial development), as well as testing the …