The period from the 1950s to the late 1970s saw an almost uniform decline of cash-to-GDP ratios in industrial countries. A closer look at the German payment system suggests that the factor causing such a change has been the shift towards cashless wage payments. In this period, in Germany, the...

Services dominate all advanced economies but service innovations are still an underresearched topic. One of the reasons are definitional and measurement difficulties. The goal of the paper is to highlight those by reviewing recent literature and to assess the current state of knowledge and...

Services dominate all advanced economies but service innovations are still an underresearched topic. One of the reasons are definitional and measurement difficulties. The goal of the paper is to highlight those by reviewing recent literature and to assess the current state of knowledge and...

The use of cashless payment instruments has been on an increase over many years now. At the same time, demand for cash has been on the rise as well and we can observe a particularly high level of growth demand for banknotes during crisis times. The increase in demand for cash known as the...

We use an 'unexplained demand for cash' approach to measure the size of the shadow economy in Sweden. The size of the shadow economy is found to have increased from 3.8 to 6.5 per cent of GDP from 1990 to 2004. This result is also supported by our finding of an increased residual between...

This paper deals with the issue of how the market structure in banking affects the choice of means of payment.In particular, the demand for cash is analysed from this point of view.The analysis is based on a simple spatial transactions model in which the banks' optimization problem is solved.The...

This study discusses the effects of the Automated Teller Machine (ATM) network market structure on the availability of cash withdrawal ATM services and cash usage.The aim and novelty of the study is to construct the ATM equation.The study also contributes to the earlier discussion on the effects...

This paper deals with the issue of how the market structure in banking affects the choice of means of payment. In particular, the demand for cash is analysed from this point of view. The analysis is based on a simple spatial transactions model in which the banks’ optimization problem is...