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Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data

Author

Listed:
  • John Bagnall

    (Reserve Bank of Australia)

  • David Bounie

    (Telecom ParisTech. 46)

  • Kim P. Huynh

    (Bank of Canada)

  • Anneke Kosse

    (De Nederlandsche Bank)

  • Tobias Schmidt

    (Deutsche Bundesbank)

  • Scott Schuh

    (Federal Reserve Bank of Boston)

  • Helmut Stix

    (Oesterreichische Nationalbank, Economic Studies Division)

Abstract

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. 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.

Suggested Citation

  • John Bagnall & David Bounie & Kim P. Huynh & Anneke Kosse & Tobias Schmidt & Scott Schuh & Helmut Stix, 2014. "Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data," Working Papers 192, Oesterreichische Nationalbank (Austrian Central Bank).
    • Handle: RePEc:onb:oenbwp:192
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    Keywords

    Money Demand; Payment Systems; Harmonization;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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