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| Tekijä: | Drehmann, M. Goodhart, C. Krueger, M. |
| Otsikko: | The challenges facing currency usage: will the traditional transaction medium be able to resist competition from the new technologies? |
| Lehti: | Economic Policy
2002 : APR, 34, p. 193-228 |
| Asiasana: | CURRENCY COMPETITION TECHNOLOGY |
| Kieli: | eng |
| Tiivistelmä: | The authors find that modern payment technologies have little impact on currency usage. To understand this lack of effect, the authors distinguish between demands for large- and small-denomination banknotes. Competition from existing electronic retail payments' products focuses mostly on small to medium-sized purchases where small bills (less than the ?50) are most common. By contrast, there are few signs, nor much likelihood, of past or current electronic products displacing holdings of large bills without government intervention. Large bills, which account for over half the stock of outstanding currency in many OECD nations, are mainly held for hoarding and bad behaviour motives ranging from hard crime to paying the plumber under the table. |
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