Arbeitspapier

Cash and crises: No surprises by the virus

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 true on a global scale, but also for the most important currencies in advanced countries (USD, EUR, CHF, GBP and JPY). In this paper, they focus especially on the role of different crises (technological crises, financial market crises, natural disasters) and analyse the demand for small and large banknote denominations since the 1990s in an international perspective. It is evident that cash demand always increases in times of crises, independent of the nature of the crisis itself. However, largely unaffected from crises we observe a trend increase in global cash aligned with a shift from transaction balances towards more hoarding, especially in the form of large denomination banknotes.

Sprache
Englisch

Erschienen in
Series: IMFS Working Paper Series ; No. 150

Klassifikation
Wirtschaft
Demand for Money
Money Supply; Credit; Money Multipliers
Central Banks and Their Policies
Thema
Cash
banknotes
crises
Corona

Ereignis
Geistige Schöpfung
(wer)
Rösl, Gerhard
Seitz, Franz
Ereignis
Veröffentlichung
(wer)
Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS)
(wo)
Frankfurt a. M.
(wann)
2021

Handle
URN
urn:nbn:de:hebis:30:3-564471
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Rösl, Gerhard
  • Seitz, Franz
  • Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS)

Entstanden

  • 2021

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