| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6024 |
| DP6024 Loans or Grants | |
| Daniel Cohen; Helmut Reisen; Pierre Jacquet | |
| 发表日期 | 2007-01-07 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Advances in the transaction technology allow agents to economize on the cost of cash management. We argue that accounting for the impact of new transaction technologies on currency holding behaviour is important to obtain theoretically consistent estimates of the demand for money. We modify a standard inventory model to study the effect of the withdrawal technology on the demand for currency. An empirical specification for the households demand schedule is suggested in which both the level of currency holdings and the interest rate elasticity of the demand depend on the withdrawal technology available to agents (e.g. ATM card ownership or a high/low density of bank branches, ATMs). The theoretical implications are tested using a unique panel of Italian household data (on currency holdings, deposit interest rates, consumption, development of banking services, etc.) for the 1989-2004 period. |
| 主题 | International Macroeconomics |
| 关键词 | Inventory models Money demand Technological change |
| URL | https://cepr.org/publications/dp6024 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534863 |
| 推荐引用方式 GB/T 7714 | Daniel Cohen,Helmut Reisen,Pierre Jacquet. DP6024 Loans or Grants. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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