Arbeitspapier
Cash and COVID-19: What happened in 2021
We provide an update on the impact the COVID-19 pandemic on the demand for cash and the use of methods of payment based on data from the Bank Note Distribution System and from consumer surveys conducted in April and August 2021. Our key findings are as follows: Cash in circulation remained high throughout 2021, driven mainly by demand for largedenomination notes; Canadians' holdings of cash on hand in April (median $70) and August (median $80) were comparable to results seen in 2020. Other cash holdings reported by Canadians remained elevated, with a median value of $260 in August; In August 2021, 62% of Canadians used cash for payments, and indicators of merchant acceptance of cash improved in both the April and August surveys; A large majority of Canadians (around 80%) in 2021 continued reporting that they have no plans to go cashless in the next five years.
- Language
-
Englisch
- Bibliographic citation
-
Series: Bank of Canada Staff Discussion Paper ; No. 2022-8
- Classification
-
Wirtschaft
Hypothesis Testing: General
Economywide Country Studies: Latin America; Caribbean
- Subject
-
Bank notes
Central bank research
Coronavirus disease (COVID-19)
Digital currencies and fintech
Econometric and statistical methods
- Event
-
Geistige Schöpfung
- (who)
-
Chen, Heng
Engert, Walter
Huynh, Kim P.
O'Habib, Daneal
Wu, Joy
Zhu, Hui
- Event
-
Veröffentlichung
- (who)
-
Bank of Canada
- (where)
-
Ottawa
- (when)
-
2022
- DOI
-
doi:10.34989/sdp-2022-8
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Chen, Heng
- Engert, Walter
- Huynh, Kim P.
- O'Habib, Daneal
- Wu, Joy
- Zhu, Hui
- Bank of Canada
Time of origin
- 2022
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Cash and COVID-19: The effects of lifting containment measures on cash demand and use
Cash and COVID-19: The impact of the second wave in Canada
Population genetics and pedigree geography of Trionychia japonica in the four mountains of Henan Province and the Taihang Mountains
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