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Speed of euro adoption

  • Francesco Columba

    (Bank of Italy)

This paper estimates the speed and determinants of euro adoption across Italian provinces by exploiting the natural experiment in early 2002 when the euro and lira dually circulated as legal tender. A unique data set with daily observations on the net flows of euro banknotes from the branches of the Bank of Italy, province by province, is used. The diffusion of the euro differs across Italy, being faster in the Northern regions and slower in the Southern regions and in the Islands up to the beginning of February. The speed of euro adoption is influenced by the availability of transaction technology and by demographic characteristics, but it is not influenced by literacy and criminality levels.

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File URL: https://www.economicdynamics.org/meetpapers/2007/paper_350.pdf
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Paper provided by Society for Economic Dynamics in its series 2007 Meeting Papers with number 350.

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Date of creation: 2007
Date of revision:
Handle: RePEc:red:sed007:350
Contact details of provider: Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
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  1. ten Raa, Thijs & Shestalova, Victoria, 2004. "Empirical evidence on payment media costs and switch points," Journal of Banking & Finance, Elsevier, vol. 28(1), pages 203-213, January.
  2. Duca, John V. & VanHoose, David D., 2004. "Recent developments in understanding the demand for money," Journal of Economics and Business, Elsevier, vol. 56(4), pages 247-272.
  3. Eugenio Gaiotti & Francesco Lippi, 2005. "Pricing behavior and the introduction of the euro: evidence from a panel of restaurants," Macroeconomics 0501029, EconWPA, revised 15 Feb 2005.
  4. Ten Raa, T. & Shestalova, V., 2004. "Empirical evidence on payment media costs and switch points," Other publications TiSEM a0277140-f50e-4a02-9448-3, Tilburg University, School of Economics and Management.
  5. Edmund Cannon & Giam Pietro Cipriani, 2003. "Euro-illusion: a natural experiment," Bristol Economics Discussion Papers 03/556, Department of Economics, University of Bristol, UK.
  6. Lotz, Sebastien & Rocheteau, Guillaume, 2002. "On the Launching of a New Currency," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(3), pages 563-88, August.
  7. Judson, Ruth A. & Porter, Richard D., 2004. "Currency demand by federal reserve cash office: what do we know?," Journal of Economics and Business, Elsevier, vol. 56(4), pages 273-285.
  8. Angelini, Paolo & Lippi, Francesco, 2005. "Did Inflation Really Soar After the Euro Cash Changeover? Indirect Evidence from ATM Withdrawals," CEPR Discussion Papers 4950, C.E.P.R. Discussion Papers.
  9. Roberta Zizza, 2002. "Metodologie di stima dell�economia sommersa: un�applicazione al caso italiano," Temi di discussione (Economic working papers) 463, Bank of Italy, Economic Research and International Relations Area.
  10. Francesco Columba, 2003. "Transaction Technology Innovation and Demand for Overnight Deposits in Italy," Temi di discussione (Economic working papers) 468, Bank of Italy, Economic Research and International Relations Area.
  11. Whitesell, William C, 1989. "The Demand for Currency versus Debitable Accounts: A Note," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 21(2), pages 246-57, May.
  12. Whitesell, William C, 1992. "Deposit Banks and the Market for Payment Media," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(4), pages 483-98, November.
  13. repec:ner:tilbur:urn:nbn:nl:ui:12-140874 is not listed on IDEAS
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