| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8065 |
| DP8065 Immigration and large banknotes | |
| Andreas Fischer | |
| 发表日期 | 2010-10-18 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Do immigrants have a higher demand for large denominated banknotes than natives? This micro study examines whether banknote orders for CHF 1,000 notes, a banknote used for storage purposes, is concentrated in Swiss municipalities with a high foreign-to-native ratio. The evidence for 251 Swiss municipalities finds that immigrants hoard fewer CHF 1,000 banknotes than natives. This result means that immigration reduces seigniorage (per person) as measured by banknote orders. A 1% increase in the immigrant-to-native ratio is coincident with a reduction in banknote orders by CHF 4,000. This reduction is attributed to wealth and age eects linked to immigrants. |
| 主题 | International Macroeconomics |
| 关键词 | Hoarding Immigration Large banknotes Money demand |
| URL | https://cepr.org/publications/dp8065 |
| 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/536881 |
| 推荐引用方式 GB/T 7714 | Andreas Fischer. DP8065 Immigration and large banknotes. 2010. |
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