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 …

The bulk of cash is held for store of value purposes, with such holdings sharply increasing in
times of high economic uncertainty and only a fraction of the population choosing to hoard …

There is much in our increasingly digitized economies to suggest that the use of cash should
fall. However, in almost all countries, it is constant or rising with a few notable exceptions …

In order to understand why there is a continuous increase in euro banknote circulation even
though the use of cash for transactions is decreasing in the euro area–a phenomenon …

This paper focuses on the role of specific types of crisis (technological crisis, financial market
crisis, natural disaster) and their effects on the demand for cash in an international context …

We analyze the repercussions of different kinds of uncertainty on cash demand, including
uncertainty of cashless infrastructures, confidence crises of the financial system, natural …

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 …

The present paper analyzes the net cash issues of the Banque de France. It is divided in two
parts. The first estimates cash demand functions for different denominational groups (small …

Liquidity management is a key mission of a central bank. In particular, the adequate
provision of banknotes requires the understanding of what drives currency demand. The …

In this study, we assess the main drivers of banknote circulation in Italy over the last decades
by using a number of econometric tools proposed in the literature. We explore the role …