Are Coins and Notes History in The US ?

Irena Munteanu () and Valentina Punga ()
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Irena Munteanu: “Ovidius” University of Constanța, Faculty of Economic Sciences, Romania
Valentina Punga: “Ovidius” University of Constanța, Faculty of Economic Sciences, Romania

Ovidius University Annals, Economic Sciences Series, 2023, vol. XXIII, issue 1, 996-1000

Abstract: There is a famous saying: Money changes companies and companies change money. Nowadays there are more and more opinions about the future of money and central banks. Is money issuance still a function of central banks? Regulation or deregulation? Society without physical money? These are just some of the questions we hear from both the general public and the financial banking world. This paper is a small study of money issuance and its necessity from a central bank perspective. The study on the US case is based on data published by the Federal Reserve and brings the US dollar issuance into focus. Based on volume and tightness analysis, the results show that there is still a need for physical currency in the US, especially small denomination. Although credit cards have replaced many cash transactions in recent years, the dollar is a sought-after physical currency outside the US.

Keywords: currency; Fed; monetary policy (search for similar items in EconPapers)
JEL-codes: E50 G01 G20 G21 G24 G30 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:996-1000

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