National Bank of Hungary paper explains strong demand for cash in Eastern Europe
Effective payment systems contribute to the strong demand for cash observed in several eastern European countries, according to a National Bank of Hungary paper, published on Tuesday.
Balázs Sisak, the paper's author, explains why there is a high demand for cash in several central European countries, especially in Hungary. By distinguishing between legal and illegal cash demand, Sisak attempts to model the demand for legal cash based on transactional and saving motives.
The results show that
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