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The irreplaceability of cash and recent limitations on tis use : Why Europe is off the track

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  • The irreplaceability of cash and recent limitations on tis use
  • Beretta,Edoardo
  • Deutsche Bundesbank Eurosystem


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Title The irreplaceability of cash and recent limitations on tis use
Similar Titles
Sub Title

Why Europe is off the track

Material Type Proceedings
Author(English)

Beretta,Edoardo

Publisher

[Frankfurt],[Germany] : Deutsche Bundesbank Eurosystem

Date 2014-09
Pages 21
Subject Country Europe(Europe)
Language English
File Type Link
Subject Economy < General
Economy < Financial Policy
Holding Deutsche Bundesbank Eurosystem
License

Abstract

The paper questions whether cash payments, in any post-industrial economy, are merely a barbarous relic of the past and whether they should be replaced by e-money. Our analysis aims to demonstrate that, being faster and more ‘expendable’ than bank transfers, cheques and other forms of credit, liquid money represents a natural drive towards economic flexibility and growth. From a behavioural perspective, cash resources entail reassuring as well as emotive components, which have ancestral origins and cannot be simply rooted out by law. Another major critical issue in today’s academic and political debate is the alleged contribution of cash transactions to avoiding capital traceability.