We analyze for the first time cash holdings of private households in all euro area countries from 2002 to 2019 within a … panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and … opportunity costs, we concentrate on cashless payments media as substitutes to cash payments and the role of the shadow economy …

Despite the increasing use of cashless payment instruments, the notion that cash loses importance over time can be … unambiguously refuted. In contrast, the authors show that cash demand increased steeply over the past 30 years. This is not only … is evident that cash demand always increases in times of crises, independent of the nature of the crisis itself. However …

In this paper, we focus on the stabilizing role of cash from a society-wide perspective. Starting with conceptual … remarks on the importance of money for the economy in general, special attention is paid to the unique characteristics of cash … cash can help to avoid such a situation. We find interesting similarities to both crises in two separate case studies, one …

, natural disasters) and their effects on the demand for cash in an international context. It becomes evident that over the past … 30 years cash demand always increased in times of crises, independent of the nature of the crisis itself.However, the …

Cash usage at the point-of-sale decreased perceptibly in the past years. This is mainly due to the ongoing trend … government regulations and supply-side restrictions by commercial banks. Nonetheless, overall demand for euro cash remained … issue of a Central Bank Digital Currency as a substitute or complement to cash. Although the characteristics of a possible …

We analyze the repercussions of different kinds of uncertainty on cash demand, including uncertainty of the digital … classification scheme how cash holdings typically evolve in each of these types of uncertainty by separating between demand for … domestic and international cash as well as between transaction and store of value balances. Hereby, we focus on the stabilizing …

The bulk of euro-denominated cash is held for store of value purposes, with such holdings sharply increasing in times … hold cash. In our model, the introduction of a central bank digital currency (CBDC) as a store of value that is superior to … cash leads to bank disintermediation as some depositors opt for switching to CBDC based on their beliefs. While CBDC …

Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in … cash remains so important. We propose a two-stage empirical framework which jointlyexplains credit card ownership and the … use of cash. Our results indicate that the pattern of cash usage is compatible with systematic economic decision making …

Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in … cash remains so important. We propose a two-stage empirical framework which jointly explains credit card ownership and the … use of cash. Our results indicate that the pattern of cash usage is compatible with systematic economic decision making …

Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many … distinctive feature of cash - a glance into one's pocket provides a signal for both the remaining budget as well as the level of … past expenses. We propose a theoretical framework which incorporates this feature of cash, and derives implications not …