TY  - UNPD
A1  - Rösl, Gerhard
A1  - Seitz, Franz
T1  - Uncertainty, politics, and crises: the case for cash
N2  - We analyze the repercussions of different kinds of uncertainty on cash demand, including uncertainty of the digital infrastructures, confidence crises of the financial system, natural disasters, political uncertainties, and inflationary crises. Based on a comprehensive literature survey, theoretical considerations and complemented by case studies, we derive a classification scheme how cash holdings typically evolve in each of these types of uncertainty by separating between demand for domestic and international cash as well as between transaction and store of value balances. Hereby, we focus on the stabilizing macroeconomic properties of cash and recommend guidelines for cash supply by central banks and the banking system. Finally, we exemplify our analysis with five case studies from the developing world, namely Venezuela, Zimbabwe, Afghanistan, Iraq, and Libya.
T3  - Working paper series / Institute for Monetary and Financial Stability - 186 
KW  - Cash
KW  - banknotes
KW  - money
KW  - crises
KW  - stabilization
KW  - uncertainty
Y1  - 2023
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/69209
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-692096
UR  - https://www.imfs-frankfurt.de/forschung/imfs-working-papers/details.html?tx_mmpublications_publicationsdetail%5Bcontroller%5D=Publication&tx_mmpublications_publicationsdetail%5Bpublication%5D=442&cHash=4dac7dc21cdc12ceb8539a7597b6f3b7
PB  - Johann Wolfgang Goethe-Univ., Inst. for Monetary and Financial Stability
CY  - Frankfurt am Main
ER  -