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How has cash usage evolved in recent decades? What might drive demand in the future?

Author

Listed:
  • Fish, Tom

    () (Bank of England)

  • Whymark , Roy

    () (Bank of England)

Abstract

Cash is often in the media spotlight. While some predict its impending demise, most people continue to use banknotes in their day-to-day lives. Although consumers are less likely to use cash for transactions than they were in the past, aggregate demand for banknotes is increasing. This article considers how cash usage has evolved in recent decades, how cash is used today, and why the Bank of England needs to prepare for a future where cash remains important.

Suggested Citation

  • Fish, Tom & Whymark , Roy, 2015. "How has cash usage evolved in recent decades? What might drive demand in the future?," Bank of England Quarterly Bulletin, Bank of England, vol. 55(3), pages 216-227.
  • Handle: RePEc:boe:qbullt:0178
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    File URL: https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2015/how-has-cash-usage-evolved-in-recent-decades-what-might-drive-demand-in-the-future.pdf?la=en&hash=4AA04C755C1B8BBDC70CE55CAD488E348FEDDAC5
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    References listed on IDEAS

    as
    1. Allen, Helen & Dent, Andrew, 2010. "Managing the circulation of banknotes," Bank of England Quarterly Bulletin, Bank of England, vol. 50(4), pages 302-310.
    2. Dent , Andrew & Dison, Will, 2012. "The Bank of England’s Real-Time Gross Settlement infrastructure," Bank of England Quarterly Bulletin, Bank of England, vol. 52(3), pages 234-243.
    3. Ali, Robleh & Barrdear, John & Clews, Roger & Southgate, James, 2014. "The economics of digital currencies," Bank of England Quarterly Bulletin, Bank of England, vol. 54(3), pages 276-286.
    4. McLeay, Michael & Radia, Amar & Thomas, Ryland, 2014. "Money creation in the modern economy," Bank of England Quarterly Bulletin, Bank of England, vol. 54(1), pages 14-27.
    5. Naqvi, Mona & Southgate, James, 2013. "Banknotes, local currencies and central bank objectives," Bank of England Quarterly Bulletin, Bank of England, vol. 53(4), pages 317-325.
    6. Ali, Robleh & Barrdear, John & Clews, Roger & Southgate, James, 2014. "Innovations in payment technologies and the emergence of digital currencies," Bank of England Quarterly Bulletin, Bank of England, vol. 54(3), pages 262-275.
    7. McLeay, Michael & Radia, Amar & Thomas, Ryland, 2014. "Money in the modern economy: an introduction," Bank of England Quarterly Bulletin, Bank of England, vol. 54(1), pages 4-13.
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    Cited by:

    1. McClintock, Ronan & Whymark, Roy, 2016. "Bank of England notes: the switch to polymer," Bank of England Quarterly Bulletin, Bank of England, vol. 56(1), pages 23-32.
    2. Miller, Callum, 2017. "Addressing the limitations of forecasting banknote demand," International Cash Conference 2017 – War on Cash: Is there a Future for Cash? 162912, Deutsche Bundesbank.
    3. Barrdear, John & Kumhof, Michael, 2016. "The macroeconomics of central bank issued digital currencies," Bank of England working papers 605, Bank of England.

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