Currency demand, new technology, and the adoption of electronic money: Micro evidence from Japan

Hiroshi Fujiki and Migiwa Tanaka

Economics Letters, 2014, vol. 125, issue 1, 5-8

Abstract: We estimate currency demand functions conditional on electronic money adoption with household-level survey data from Japan under an Instrumental Quantile Regression framework. Contrary to theoretical predictions, our results suggest that users of electronic money hold more currency than non-users.

Keywords: Currency demand; Transaction demand for money; Electronic money; Instrumental quantile regression; Retail payment (search for similar items in EconPapers)
JEL-codes: C13 E40 E41 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:125:y:2014:i:1:p:5-8

DOI: 10.1016/j.econlet.2014.07.032

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