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The volume of euro coins held for transaction purposes in Germany

Altmann, Markus; Bartzsch, Nikolaus - Volkswirtschaftliche Fakultät, … - 2014

According to estimates using the seasonal method, the volume of euro coins held for transaction purposes in Germany in … Bundesbank) euro coins in circulation. 76% of the total volume of coins held for transaction purposes was accounted for by €1 and … €2 coins. Only in the case of €2 coins has the cash stock held for transaction purposes made a significant contribution …

Persistent link: https://www.econbiz.de/10011109839

Money in monetary policy design under uncertainty: the Two-Pillar Phillips Curve versus ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - 2007

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much criticism for this decision. In this paper, we explore possible justifications. The case against including money in the central bank's interest rate rule is based on a standard model...

Persistent link: https://www.econbiz.de/10010295857

Money in monetary policy design under uncertainty: The two-pillar Phillips curve versus ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - 2006

Persistent link: https://www.econbiz.de/10010298366

Money in monetary policy design under uncertainty: A formal characterization of ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - 2006

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much criticism for this decision. The case against including money in the central bank's interest rate rule is based on a standard model of the monetary transmission process that underlies...

Persistent link: https://www.econbiz.de/10010298367

Learning, endogenous indexation and disinflation in the New-Keynesian model

Wieland, Volker - 2008

This paper introduces adaptive learning and endogenous indexation in the New-Keynesian Phillips curve and studies disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation-targeting countries, in particular the gradual Chilean...

Persistent link: https://www.econbiz.de/10010298400

Central bank misperceptions and the role of money in interest rate rules

Beck, Günter W.; Wieland, Volker - 2008

Research with Keynesian-style models has emphasized the importance of the output gap for policies aimed at controlling inflation while declaring monetary aggregates largely irrelevant. Critics, however, have argued that these models need to be modified to account for observed money growth and...

Persistent link: https://www.econbiz.de/10010298408

Choosing and using payment instruments: evidence from German microdata

von Kalckreuth, Ulf; Schmidt, Tobias; Stix, Helmut - 2009

Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data on payment behaviour of German consumers, we...

Persistent link: https://www.econbiz.de/10010299952

Money in monetary policy design: Monetary cross-checking in the New-Keynesian Model

Beck, Guenter W.; Wieland, Volker - 2009

In the New-Keynesian model, optimal interest rate policy under uncertainty is formulated without reference to monetary aggregates as long as certain standard assumptions on the distributions of unobservables are satisfied. The model has been criticized for failing to explain common trends in...

Persistent link: https://www.econbiz.de/10010303717

Opting out of the great inflation: German monetary policy after the break down of Bretton Woods

Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - 2008

During the turbulent 1970s and 1980s the Bundesbank established an outstanding reputation in the world of central banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the international financial system. Eventually the...

Persistent link: https://www.econbiz.de/10010303730

Using cash to monitor liquidity: Implications for payments, currency demand and withdrawal behavior

von Kalckreuth, Ulf; Schmidt, Tobias; Stix, Helmut - 2011

Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many countries. This paper shows that consumers' desire to monitor liquidity is one of the reasons. Consumers make use of a distinctive feature of cash - a glance into one's pocket...

Persistent link: https://www.econbiz.de/10010307248