How do we pay with euro notes? Empirical evidence from Monopoly experiments

In contrast to abundant theoretical literature, there are almost no empirical studies on how individuals actually deal with cash. In this paper we analyze euro transactions, made during various games of Monopoly® (European edition), where in some games we deliberately left out one of the notes. We find that not having access to 100-euro or 10-euo notes is not as problematic for payment behavior as it is for not having 200-euro and 20-euro notes. We also find that the 50-euro note plays a crucial role in actual payments.Poisson regression model;euro cash;experiments;payment behavior

Do we need all Euro denominations?

We show that there are theoretical arguments, which indicate that leaving out the 1-euro cent and 2-euro cent leads to more efficient cash payment behavior. Next, we show that having no access to 100-euro notes and 10-euro notes is less harmful than having no 50-euro notes. Finally, we argue that the transition from the Dutch guilder to the euro should not have led to different payment behavior, at least in theory.cash payment;euro transition

How do we pay with euro notes? Empirical evidence from Monopoly experiments

In contrast to abundant theoretical literature, there are almost no empirical studies on how individuals actually deal with cash. In this paper we analyze euro transactions, made during various games of Monopoly® (European edition), where in some games we deliberately left out one of the notes. We find that not having access to 100-euro or 10-euo notes is not as problematic for payment behavior as it is for not having 200-euro and 20-euro not

An empirical analysis of euro cash payments

If the denominational structure of the euro is used in an optimal way, there should be no preferences for using certain coins and notes. In Kippers et al. (2003) it is documented that the Dutch public did have certain preferences concernin

Do we need all Euro denominations?

We show that there are theoretical arguments, which indicate that leaving out the 1-euro cent and 2-euro cent leads to more efficient cash payment behavior. Next, we show that having no access to 100-euro notes and 10-euro notes is less harmful than having no 50-euro notes. Finally, we argue that the transition from the Dutch guilder to the euro should not have led to different payment behavior, at least in theory

Empirical Studies on Cash Payments

Cash is still the most common means of daily payments. The large number of cash payments is supported by a costly distribution system in which retailers, banks and central banks participate. Currency is issued in a range of bank note and coin denominations to facilitate efficiency in cash payments. The purpose of this thesis is to study the performance of a currency range in practice. It presents a number of empirical studies on cash payments at the individual payment level, whereby cash payments are viewed as the outcome of a choice process. This type of analysis calls for labor-intensive data collection methods and the development of a sophisticated econometric model. This thesis introduces such a model for cash payments, and it reviews its application to three unique data sets of cash payments. The data concern payments in the Netherlands before and after the transition from the guilder to the euro in 2002, and payments in an experimental setting. The estimation results allow for an assessment of the use of different bank note and coin denominations in cash payments, and of possible preferences for one of more denominations. Currency research generally approaches currency use from a macroeconomic point of view. The novelty of this thesis is that it contributes to currency research by focusing on individual cash payments.Jeanine Kippers (1973) obtained her master´s degree in econometrics from the Erasmus University Rotterdam in 1997. In the same year she was employed by De Nederlandsche Bank. She participated in the preparations of the cash changeover from guilder to euro in 2002, and contributed to the development of a European cash distribution system and the restructuring of the national distribution system. During her employment at the central bank she started her research on currency use, which resulted in several papers that have been published or are currently under review. In January 2004 she joined the Pensionand Insurance Supervisory authority, as a policy advisor in the (international) field of insurance supervision

Hoe betalen we eigenlijk?

Het is voor sommige mensen nog even wennen, die euro. In het Duitse Erbach bleek een pompbediende nog niet helemaal op de hoogte van de nieuwe biljetten. Een klant rekende daar af met een biljet van 300 euro. Netjes kreeg hij vervolgens 250 euro terug

Meer betaalgemak door de euro.

De euro geeft meer betaalgemak dan de gulden. Empirisch onderzoek laat zien dat Nederlanders efficiënter dan in het guldentijdperk betalen met de reeks van eurobiljetten en -munten. Ook heeft men - in tegenstelling tot de gulden - geen sterke voorkeur voor bepaalde coupures

Muscle synergies at the elbow in static and oscillating isometric torque tasks with dual degrees of freedom

This study's aim was to identify the effect of oscillation of torques in isometric tasks under identical mechanical conditions on the muscle synergies used. It was hypothesized that bi-functional muscles would play a lesser role in torque oscillation, because they would also generate an undesired oscillation. Thus, changes in muscle synergies were expected as a consequence of oscillation in torque generation. The effect of the trajectory of torque generation was investigated in dual-degrees-of-freedom submaximal isometric oscillation torque tasks at the elbow. The torques were flexion-extension and supination-pronation. Oscillation torques were compared with static torque generations at four torque positions during oscillation. Muscle activity was determined with surface electromyography. Compared with the static torque tasks, the oscillation tasks showed an overall increased muscle activity. The oscillation tasks, however, showed similar activity patterns and muscle synergies compared to the static composite tasks. It was found that the motor system is well able to control different orthogonal combinations of slow torque oscillations and constant torques by employing a single oscillating muscle synergy