We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys … were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the … United States). Our paper finds cross-country differences - for example, the level of cash usage differs across countries …

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 …

. Nevertheless, the use of cash remains significant. We hypothesize that the lack of card acceptance at the point of sale is a key … reason why cash continues to play an important role. We formulate a simple inventory model that predicts that the level of … cash demand falls with an increase in card acceptance. We use detailed payment diary data from Austrian and Canadian …

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