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An empirical analysis of euro cash payments

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Author Info
J. Kippers
P.H. Franses () (FEW-Econometrie en besliskunde)

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Abstract

If the denominational structure of the euro is used in an optimal way, there should be no preferences for using certain coins and notes. In Kippers et al. (2003) it is documented that the Dutch public did have certain preferences concerning the Dutch guilder, in the sense that some notes and coins were used less often than expected. With the advent of the euro, it is now of interest to examine whether these preferences also exist for euro coins and notes, also as the denominational structure of the guilder was 1-2½-5, while for the euro it is now 1-2-5. In this paper we use two new and rather unique data sets for the Netherlands to empirically examine if the euro range is used in an optimal way. Using a statistical model, specifically designed for this purpose, we find that the Dutch public does not seem to have preferences for certain denominations. Hence, the task of paying with cash has become easier for Dutch consumers.

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Paper provided by Erasmus University Rotterdam, Econometric Institute in its series Econometric Institute Report with number 330.

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Date of creation: 2003
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Handle: RePEc:dgr:eureir:2003330

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Keywords: Euro cash Truncated Poisson regression model Payment behaviour

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Boeschoten, W C & Fase, M M G, 1989. "The Way We Pay with Money," Journal of Business & Economic Statistics, American Statistical Association, vol. 7(3), pages 319-26, July.
  2. Jeanine Kippers & Erjen van Nierop & Richard Paap & Philip Hans Franses, 2002. "An Empirical Study of Cash Payments," Tinbergen Institute Discussion Papers 02-075/4, Tinbergen Institute. [Downloadable!]
  3. Cramer, J. S., 1983. "Currency by denomination," Economics Letters, Elsevier, vol. 12(3-4), pages 299-303. [Downloadable!] (restricted)
  4. Jeanine Kippers & Erjen Nierop & Richard Paap & Philip Hans Franses, 2003. "An Empirical Study of Cash Payments," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 57(4), pages 484-508. [Downloadable!] (restricted)
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  1. Carlos A. Arango A. & Martha Misas A. & Juan Nicolás Hernández, . "La Demanda de Especies Monetarias en Colombia: Estructura y Pronóstico," Borradores de Economia 309, Banco de la Republica de Colombia. [Downloadable!]
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