An empirical analysis of euro cash payments |
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Authors: | Philip Hans Franses Jeanine Kippers |
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Affiliation: | a Econometric Institute H11-34, Erasmus University Rotterdam, P.O. Box 1738, NL-3000 DR Rotterdam, The Netherlands b De Nederlandsche Bank, Amsterdam, The Netherlands |
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Abstract: | If the denominational structure of the euro is used in an optimal way, there should be no preferences for certain coins and notes when making cash payments. In Kippers et al. [2003. An empirical study of cash payments. Statistica Neerlandica 57, 484-508] it is documented that the Dutch public did have certain preferences concerning the Dutch guilder in the sense that a few notes and coins were used less often than they should have been. With the advent of the euro, which changed the denominational structure from 1--5 (guilder) to 1-2-5 (euro), it is of interest to examine whether there are any preferences for euro coins and notes. In this paper we use a unique dataset for the Netherlands to empirically examine if the euro range is used in an optimal way. We find that there are no preferences for certain euro denominations. |
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Keywords: | E42 E58 |
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