Bagnall, John Bounie, David Huynh, Kim P. Kosse, Anneke Schmidt, Tobias Schuh, Scott Stix, Helmut
Year of Publication:
Working Papers, Federal Reserve Bank of Boston 14-4
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 use differs across countries. Cash has not disappeared as a payment instrument, especially for low-value transactions. We also find that the use of cash is strongly correlated with transaction size, demographics, and point-of-sale characteristics such as merchant card acceptance and venue.