This paper deals with the issue of how the market structure in banking affects the choice of means of payment. In particular, the demand for cash is analysed from this point of view. The analysis is based on a simple spatial transactions model in which the banks’ optimization problem is...

This study utilises payment system data to analyse market participants’ liquidity usage and to trace interest rates paid on overnight loans. Our aim is to examine how liquidity usage has changed during the years 2006–2/2011 and to combine this information with data on overnight lending rates...

This article deals with the issue of how the market structure in banking affects the choice of the means of payment. In particular, the demand for cash is analysed from this point of view. The analysis is based on a simple spatial transactions model in which banks' optimization problem is...

This study discusses the effects of the Automated Teller Machine (ATM) network market structure on the availability of cash withdrawal ATM services and cash usage. The aim and novelty of the study is to construct the ATM equation. The study also contributes to the earlier discussion on the...

This paper contains a set of tests for nonlinearities in economic time series. The tests comprise both standard diagnostic tests for revealing nonlinearities and some new developments in modelling nonlinearities. The latter test procedures make use of models in chaos, theory, so-called...

This paper deals with fiscal policy coordination. In particular, it focuses on the question of how fiscal policy can be coordinated inside EMU, where countries still differ considerably in terms of cyclical behaviour and importance of country-specific shocks and well as the fiscal policy...

This paper tries to assess fiscal policy rules in the OECD countries. In particular, we examine whether the EU/EMU countries have had the same rule in terms of the cyclical situation. The analysis is based on a simple VAR model for output growth, inflation and a fiscal indicator. Empirical...

This paper provides an extended supply of labour model which allows for different intensities of legal and illegal (criminal) activities and in which criminal activities may be considered both as work and leisure. Heterogeneity of individuals is also taken into account. The model is estimated...

This paper develops a model of the relationship between public sector employment, total output and aggregate real demand in market prices, where public employment has a positive productivity effect on private output and where public employment crowds out private employment and output via wage...

This paper deals with the question whether the automatic fiscal stabilisers are strong enough to solve the problem of asymmetric shocks in the Euro area. The question is important for many reasons, for instance in terms of policy coordination and fiscal federalism. The paper reviews the current...