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dc.contributor.authorGrech, Aaron George-
dc.identifier.citationGrech, A. G. (2014). The demand for currency in Malta. Munich Personal RePEc Archive, MPRA Paper no 53878, 1-8.en_GB
dc.description.abstractThis article studies the demand for one particular component of the money stock, currency, in Malta in the light of the existing theoretical and empirical frameworks. In particular, it argues that the commonly applied analytical framework needs to be tweaked slightly for it to explain better the reasons underpinning the relatively high currency demand in Malta compared with other euro area countries. In particular, the presence of a large tourism sector is likely to be boosting demand beyond what one would expect. Similarly the presence of a significant shadow economy appears to be exerting some influence on the magnitude of currency holdings. That said, this study suggests that there is scope for a number of policies which could lead to lower demand for notes, particularly measures to facilitate the use of electronic means of payment and efforts to discourage the shadow economy.en_GB
dc.publisherMunich Personal RePEc Archiveen_GB
dc.subjectDemand for money -- Maltaen_GB
dc.subjectMonetary policy -- Maltaen_GB
dc.subjectMoney -- Maltaen_GB
dc.subjectInterest ratesen_GB
dc.titleThe demand for currency in Maltaen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
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