Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/241095 
Year of Publication: 
2021
Series/Report no.: 
Bank of Canada Staff Discussion Paper No. 2021-3
Publisher: 
Bank of Canada, Ottawa
Abstract: 
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.
Subjects: 
Bank notes
Central bank research
Coronavirus disease (COVID-19)
Digital currencies and fintech
Econometric and statistical methods
JEL: 
C
C1
C9
C12
E
E4
O
O5
O5
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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