Economists worldwide find cash still used ‘extensively’
Cash "has not disappeared" as a payment instrument, and is still used "extensively" in low-value transactions, according to a working paper published by the European Central Bank (ECB) today.
In Consumer cash usage: a cross-country comparison with payment diary survey data, John Bagnall, David Bounie, Kim Huynh, Anneke Kosse, Tobias Schmidt, Scott Schuh and Helmut Stix analyse survey data from Australia, Austria, Canada, France, Germany, the Netherlands and the United States.
The authors find
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on FMI
China and Hong Kong set to launch Swap Connect
New trading link will make it easier for foreign investors to hedge interest rate risks
Fed triennial study shows rapid growth in electronic payments
ACH payments contributed to 90% of non-cash payment value increases in three years
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
ECB hails launch of new wholesale settlement system
Eurosystem’s new RTGS system and liquidity management tool went live on March 20
FSB sets ‘priority actions’ for global payments reform
Broad study of interoperability and alignment has been narrowed down to specific actions
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
Lawmakers join pushback over SEC dealer rule
Bipartisan letter to Treasury says proposal would damage market liquidity
Cash demand solid despite digitalisation, CPMI finds
Latest ‘red book’ statistics show rapid growth in cashless payments, but demand for cash still resilient