dependent variable in the money demand equation a direct measure of the value of cash transactions: the flow of cash withdrawn … from current accounts relative to total non-cash payments. This avoids use of the Fisher equation and so overcomes two … larger aggregate of the unobserved economy and represents a significant component of total cash payments. We then propose an …

, investments and changes in net financial positions. Moreover, the correlation between the demand for cash that cannot be explained …

In many industrialized countries, cash usage at points of sale has been decreasing owing to competition from … alternative means of payment such as credit cards. At the same time, cash demand, measured as currency in circulation over GDP … the “cash paradox,” poses a challenge to standard monetary models. We introduce two new features into the standard cash …

In The Curse of Cash, Kenneth Rogoff lists reductions in criminal activity and tax evasion among the primary benefits … of eliminating cash. We maintain that, to the extent that individuals are interested in purchasing illicit goods and … services or evading taxes, eliminating cash will encourage them to switch to close substitutes. Hence, governments intent on …

around the world, there is scant evidence of a shift away from cash. As the appetite for cash remains unabated, few societies … are close to “cashless” or even “lesscash”. In fact, demand for cash has risen in most advanced economies since the start … opportunity cost of holding cash) rather than by payment needs …

Providing bank notes is one of the Bank of Canada’s core functions. The Bank is therefore interested in whether cash is …. We provide a perspective on these issues by exploring access of First Nations reserves to cash. To do so, we measure the … distance between the 637 reserve band offices in Canada and their closest cash sources. In this study, these cash sources are …