Cash and COVID-19: the effects of lifting containment measures on cash demand and use

by Heng Chen, Walter Engert, Kim P. Huynh, Gradon Nicholls and Julia Zhu

We conduct a follow-up to Chen et al. (2020) and study demand for and use of cash after the containment measures imposed at the beginning of the COVID-19 pandemic were relaxed during the summer of 2020. We find that bank notes in circulation continued to rise in July due to ongoing cash withdrawals and decreased cash deposits in the Bank Note Distribution System. The probability of consumers using cash for payments increased in July compared with April 2020. As well, consumer cash holdings, measured as the median value of cash on hand, returned to August 2019 levels.

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Year of publication:	[2021]
Authors:	Chen, Heng ; Engert, Walter ; Huynh, Kim P. ; Nicholls, Gradon ; Zhu, Hui
Publisher:	Ottawa, Ontario, Canada : Bank of Canada
Subject:	Bank notes \| Central bank research \| Coronavirus disease (COVID-19) \| Digital currencies and fintech \| Econometric and statistical methods \| Coronavirus \| Bargeld \| Cash \| Zentralbank \| Central bank \| Wirkungsanalyse \| Impact assessment \| Geldpolitik \| Monetary policy \| Finanztechnologie \| Financial technology \| Virtuelle Währung \| Virtual currency

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Extent:	1 Online-Ressource (circa 20 Seiten) Illustrationen
Series:	Staff discussion paper. - Ottawa : [Verlag nicht ermittelbar], ISSN 1914-0568, ZDB-ID 2437267-5. - Vol. 2021, 3
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/241095 [Handle]
Classification:	C - Mathematical and Quantitative Methods ; C1 - Econometric and Statistical Methods: General ; C9 - Design of Experiments ; C12 - Hypothesis Testing ; E - Macroeconomics and Monetary Economics ; E4 - Money and Interest Rates ; O - Economic Development, Technological Change, and Growth ; O5 - Economywide Country Studies
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012488999