We develop a model to explain a puzzling trend in cash demand in recent years: the value of bank notes in circulation … as a percentage of GDP has remained stable despite decreasing cash usage at points of sale owing to competition from … alternative means of payment such as credit cards. The main feature of the model is that cash circulates between economic …

We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys … United States). Our paper finds cross-country differences - for example, the level of cash usage differs across countries …. Cash has not disappeared as a payment instrument, especially for low-value transactions. We also find that the use of cash …

' use of cash relative to debit and credit cards. The authors find that consumers who perceive debit cards and credit cards … to be more convenient and less risky than cash use them more frequently. Even at low levels of perceived risk, consumers … shift substantially away from cash and towards alternative payment methods. However, the authors' results reveal that there …

Despite various payment innovations, today, cash is still heavily used to pay for low-value purchases. This paper … develops a simulation model to test whether standard implications of the theory on cash management and payment choices can …, Germany and the Netherlands, we test the assumption that cash is still the most efficient payment instrument, and the idea …

. While the demise of cash is not imminent, it is important for the central bank to continue to evaluate its potential roles …