Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/336307 
Year of Publication: 
2020
Citation: 
[Journal:] Latin American Journal of Central Banking (LAJCB) [ISSN:] 2666-1438 [Volume:] 1 [Issue:] 1/4 [Article No.:] 100004 [Year:] 2020 [Pages:] 1-10
Publisher: 
Elsevier, Amsterdam
Abstract: 
Cash is an extremely useful social contrivance. Kenneth Rogoff, who calls for phasing-out high denomination cash over time, recently discussed two possible drawbacks of high-denomination cash: the extensive use of high-denomination cash in crime and in illicit and corrupt activities and the role cash plays in preventing deeply negative nominal interest rates imposed on bank accounts. I will argue that using cash is preferable to the alternative, which entails worse types of crimes committed in the absence of cash. Consequently, the current high-denomination cash in the U.S. should be retained.
Subjects: 
Debt
Cash
Crime
JEL: 
E42
E58
D23
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.