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Ergebnisse für "Tobias Schmidt"

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  1. Using cash to monitor liquidity
    implications for payments, currency demand and withdrawal behavior
    Autor*in: Kalckreuth, Ulf von; Schmidt, Tobias; Stix, Helmut
    Erschienen: 2011
    Verlag:  European Central Bank, Frankfurt am Main

    Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many countries. This paper shows that consumers' desire to monitor liquidity is one of the reasons. Consumers make use of a distinctive... mehr

    Standort:
    Staats- und Universitätsbibliothek Bremen
    Fernleihe:
    keine Fernleihe

    Standort:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 534 (1385)
    Fernleihe:
    keine Fernleihe

     

    Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many countries. This paper shows that consumers' desire to monitor liquidity is one of the reasons. Consumers make use of a distinctive feature of cash - a glance into one's pocket provides a signal for both the remaining budget as well as the level of past expenses. We propose a theoretical framework which incorporates this feature of cash, and derives implications not only for cash usage as such but also for a broader set of payment-related activities. Survey data from Germany on consumers' payment and withdrawal patterns are used to test these implications empirically. The data are consistent with all theoretical predictions: consumers who need to keep control over their remaining liquidity and who have elevated costs of information processing and storage will conduct a larger percentage of their payments using cash, hold fewer non-cash payment instruments, withdraw less often and hold larger cash balances than other consumers. Such consumers also use payment cards for some transactions; they switch to non-cash payment instruments only at higher transaction values than other consumers, however. Our model provides an explanation of why cash usage has declined only slowly in some countries despite broad diffusion of non-cash means of payment. - Payment behavior ; payment instruments ; withdrawal behavior ; payment cards ; payment innovation ; cash usage ; currency demand ; survey data

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/153819
    Schriftenreihe: Working paper series / European Central Bank ; 1385
    Umfang: Online-Ressource, (54 S., 1,45 MB)
  2. Using cash to monitor liquidity
    implications for payments, currency demand and withdrawal behavior
    Autor*in: Kalckreuth, Ulf von; Schmidt, Tobias; Stix, Helmut
    Erschienen: 2011
    Verlag:  Dt. Bundesbank, Frankfurt, M.

    Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many countries. This paper shows that consumers’ desire to monitor liquidity is one of the reasons. Consumers make use of a distinctive... mehr

    Standort:
    Staats- und Universitätsbibliothek Bremen
    Fernleihe:
    keine Fernleihe

    Standort:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 12 (2011,22)
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Osnabrück
    Fernleihe:
    keine Fernleihe

     

    Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many countries. This paper shows that consumers’ desire to monitor liquidity is one of the reasons. Consumers make use of a distinctive feature of cash – a glance into one’s pocket provides a signal for both the remaining budget as well as the level of past expenses. We propose a theoretical framework which incorporates this feature of cash, and derives implications not only for cash usage as such but also for a broader set of paymentrelated activities. Survey data from Germany on consumers’ payment and withdrawal patterns are used to test these implications empirically. The data are consistent with all theoretical predictions: consumers who need to keep control over their remaining liquidity and who have elevated costs of information processing and storage will conduct a larger percentage of their payments using cash, hold fewer non-cash payment instruments, withdraw less often and hold larger cash balances than other consumers. Such consumers also use payment cards for some transactions; they switch to non-cash payment instruments only at higher transaction values than other consumers, however. Our model provides an explanation of why cash usage has declined only slowly in some countries despite broad diffusion of non-cash means of payment. -- Payment behavior ; payment instruments ; withdrawal behavior ; payment cards ; payment innovation ; cash usage ; currency demand ; survey data

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9783865587473
    Weitere Identifier:
    hdl: 10419/52131
    Schriftenreihe: Array ; 22/2011
    Schlagworte: Kassenhaltungsansatz; Zahlungsverkehr; Bargeldloser Zahlungsverkehr; Konsumentenverhalten; Liquiditätspräferenz; Schätzung; Deutschland
    Umfang: Online-Ressource (PDF-Datei: 57, [7] S., 622 KB)
    Bemerkung(en):

    Zsfassung in dt. Sprache
  3. Choosing and using payment instruments
    evidence from German microdata
    Autor*in: Kalckreuth, Ulf von; Schmidt, Tobias; Stix, Helmut
    Erschienen: 2009
    Verlag:  Dt. Bundesbank, Frankfurt, M.

    Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data... mehr

    Standort:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 12 (2009.36)
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Osnabrück
    Fernleihe:
    keine Fernleihe

     

    Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data on payment behaviour of German consumers, we shed light on how individuals choose payment instruments and why cash remains so important. We propose a two-stage empirical framework which jointly explains credit card ownership and the use of cash. Our results indicate that the pattern of cash usage is compatible with systematic economic decision making. Consumers decide upon the adoption of payment cards and then use available payment media according to their transaction and personal characteristics, the relative costs of cash and card usage, and their assessment of payment instruments’ characteristics. Whereas older consumers use significantly more cash, the comparison with younger consumers shows that the difference in payment behaviour is not explained by age as such but to a large extent by differences in the characteristics of these two groups. It is interesting that the possession of a credit card, especially alongside a debit card, does not significantly affect the use of cash in Germany. -- Payment instruments ; payment cards ; payment behaviour ; payment innovation ; cash usage ; cash substitution ; debit cards ; credit cards ; survey data

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9783865585929
    Weitere Identifier:
    hdl: 10419/30032
    Schriftenreihe: Array ; 2009,36
    Schlagworte: Zahlungsverkehr; Konsumentenverhalten; Kreditkarte; Bargeld; Mikrodaten; Deutschland
    Umfang: Online-Ressource (50 S., 425 KB)
    Bemerkung(en):

    Zsfassungen in dt. und engl. Sprache
  4. Choosing and using payment instruments
    evidence from German microdata
    Autor*in: Kalckreuth, Ulf von; Schmidt, Tobias; Stix, Helmut
    Erschienen: 2009
    Verlag:  European Central Bank, Frankfurt am Main

    Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data... mehr

    Standort:
    Staats- und Universitätsbibliothek Bremen
    Fernleihe:
    keine Fernleihe

    Standort:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 534 (1144)
    Fernleihe:
    keine Fernleihe

     

    Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data on payment behaviour of German consumers, we shed light on how individuals choose payment instruments and why cash remains so important. We propose a two-stage empirical framework which jointlyexplains credit card ownership and the use of cash. Our results indicate that the pattern of cash usage is compatible with systematic economic decision making. Consumers decide upon the adoption of payment cards and then use available payment media according to their transaction and personal characteristics, the relative costs of cash and card usage, and their assessment of payment instruments' characteristics. Whereas older consumers use significantly more cash, the comparison with younger consumers shows that the difference in payment behaviour is not explained by age as such but to a large extent by differences in the characteristics of these two groups. It is interesting that the possession of a credit card, especially alongside a debit card, does not significantly affect the use of cash in Germany

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/153578
    Schriftenreihe: Working paper series / European Central Bank ; 1144
    Schlagworte: Zahlungsverkehr; Konsumentenverhalten; Kreditkarte; Bargeld; Mikrodaten; Deutschland
    Umfang: Online-Ressource, (46 S., 878 KB)