Cash and COVID-19: The impact of the second wave in Canada

Heng Chen, Walter Engert, Marie-Helene Felt, Kim Huynh, Gradon Nicholls, Daneal O'Habib and Julia Zhu

No 2021-12, Discussion Papers from Bank of Canada

Abstract: We use consumer surveys conducted in April, July and November 2020 to study how the COVID-19 pandemic affected the demand for cash and the use of various methods of payment. Continuing from Chen et al. (2020, 2021), we use data from the Bank Note Distribution System (BNDS) to track how the amount of cash in circulation changed throughout 2020. The November 2020 survey included a three-day payment diary. We compare this diary with similar diaries from 2009, 2013 and 2017 to study long-term trends in cash use and payment methods.

Keywords: Bank notes; Central bank research; Coronavirus disease (COVID-19); Digital currencies and fintech; Econometric and statistical methods (search for similar items in EconPapers)
JEL-codes: C12 E4 O54 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2021-07
New Economics Papers: this item is included in nep-cba, nep-isf, nep-mac, nep-mon and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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