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What explains the growing global demand for cash?

Shirai, Sayuri; Sugandi, Eric Alexander - 2019

Demand for cash is generally known to be influenced by several factors−including transaction motive used for payment, opportunity cost, precautionary motive (such as crisis period), and other motives (such as aging and demand from abroad). In recent years, cashless payment methods have...

Persistent link: https://www.econbiz.de/10012101636

Does dollarization reduce or produce inflation?

Mengesha, Lula G.; Holmes, Mark J. - In: Journal of economic studies 42 (2015) 3, pp. 358-376

Persistent link: https://www.econbiz.de/10011349016

Do we need central bank digital currency? Economics, technology and institutions

Gnan, Ernest (contributor); Masciandaro, Donato (contributor) - 2018

Persistent link: https://www.econbiz.de/10011985213

Il circuito della moneta e il finanziamento dell'economia. Un'analisi teorica.

Cavalieri, Duccio - Volkswirtschaftliche Fakultät, … - 1999

This is a theoretical analysis of the role of money and other less liquid financial assets in the financing of the private sector of a market economy. It is concerned, basically, with the functional relations between households, firms, banks and other financial institutions, and with those...

Persistent link: https://www.econbiz.de/10011111080

Money Demand in a Banking Time Economy

Gillman, Max; Otto, Glenn - 2008

The paper presents a theory of the demand for money that combines a special case of the shopping time exchange economy … with the cash-in-advance framework. The model predicts that both higher inflation and financial innovation - that reduces … elasticity of money that rises with the inflation rate rather than the constant elasticity found in standard shopping time …

Persistent link: https://www.econbiz.de/10014029660

A unified framework for CBDC design : remuneration, collateral haircuts and quantity constraints

Assenmacher-Wesche, Katrin; Berentsen, Aleksander; … - 2021

We study the macroeconomic effects of central bank digital currency (CBDC) in a dynamic general equilibrium model. Timing and information frictions create a need for inside (bank deposits) and outside money (CBDC) to finance production. To steer the quantity of CBDC, the central bank can set the...

Persistent link: https://www.econbiz.de/10012596299

Banks' balance-sheet costs, monetary policy, and the ON RRP

Afonso, Gara; Cipriani, Marco; La Spada, Gabriele - 2022

In June 2022, the Federal Reserve started reducing the size of its balance sheet, which had expanded to just under $9 trillion in response to the COVID-19 pandemic. However, whereas banks' reserves at the Federal Reserve have decreased, the investment of money market funds (MMFs) at the Federal...

Persistent link: https://www.econbiz.de/10013465412

The macroeconomic effects of different CBDC regimes in an economy with a heterogeneous household sector

Magin, Jana Anjali; Neyer, Ulrike; Stempel, Daniel - 2023

Many central banks discuss the introduction of a Central Bank Digital Currency (CBDC). Empirical evidence suggests that households may differ in their willingness to hold CBDC. Against this background, this paper investigates the macroeconomic effects of different CBDC regimes in a New Keynesian...

Persistent link: https://www.econbiz.de/10014229087

CBDC and business cycle dynamics in a New Monetarist New Keynesian model

Assenmacher-Wesche, Katrin; Bitter, Lea; Ristiniemi, Annukka - 2023

To study implications of an interest-bearing CBDC on the economy, we integrate a New Monetarist-type decentralised market that explicitly accounts for the means-of-exchange function of bank deposits and CBDC into a New Keynesian model with financial frictions. The central bank influences the...

Persistent link: https://www.econbiz.de/10014314330

The long-run demand for M2 reconsidered

Altermatt, Sophie - 2018

first half of the 19th century. The evidence from cointegration tests suggests that a long-run equilibrium relationship for …) cointegration tests produce strong evidence in favor of a stable long-run money demand. Evidence for Israel and Lebanon is weaker … demand or it is mixed across money demand specifications and/or type of cointegration test. …

Persistent link: https://www.econbiz.de/10011961332