Narrow money and transaction technology: New disaggregated evidence

Francesco Columba ()

Journal of Economics and Business, 2009, vol. 61, issue 4, pages 312-325

Abstract: This paper analyses the effect of transaction technology innovation on narrow money using Italian data disaggregated at provincial level. In particular, this study assesses the impact of the diffusion of ATMs (automated teller machines) and of POS (points of sale), on the demand for currency and on the demand for M1 using a unique data set. We find that transaction technology innovation has a negative effect on the demand for currency in circulation, while its effect on M1 is positive; additionally, heterogeneity in the use of cash within Italy is detected.

Keywords: Currency; Demand; for; money; Financial; innovation; Monetary; aggregates (search for similar items in EconPapers)
Date: 2009

Downloads: (external link)
http://www.sciencedirect.com/science/article/B6V7T ... 5034e32e5dab00e8baec
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Narrow money and transaction technology: new disaggregated evidence (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:eee:jebusi:v:61:y::i:4:p:312-325

Access Statistics for this article

Journal of Economics and Business is edited by G. P. Szegö

More articles in Journal of Economics and Business from Elsevier
Series data maintained by Heidi Boesdal ().