VARs. To address these issues, we propose VAR models with outlier-augmented stochastic volatility (SV) that combine … transitory and persistent changes in volatility. The resulting density forecasts are much less sensitive to outliers in the data … the pandemic period, as well as for earlier subsamples of relatively high volatility. In historical forecasting, outlier …

explain the use of payment instruments by transaction size. In particular, using diary survey data from Canada, France … simulations show that these two factors are significant determinants of the high shares of low-value cash payments in Canada …

We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries: Australia, Austria, Canada …