This website uses cookies.

By clicking the "Accept" button or continuing to browse our site, you agree to first-party and session-only cookies being stored on your device to enhance site navigation and analyze site performance and traffic. For more information on our use of cookies, please see our Privacy Policy.

Journal of Economic Literature

ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)

Cash Is Alive: How Economists Explain Holding and Use of Cash

  • Oz Shy
Journal of Economic Literature
vol. 61, no. 4, December 2023
(pp. 1465–1520)
Download Full Text PDF

Abstract

Research on holding and use of cash involves many aspects, such as reasons for holding and hoarding cash, transactional demand for cash, cash management, type of spending paid with cash, type of consumer who pays cash, merchant acceptance, how consumers get cash, currency denominations, legal aspects, cash substitutes, and cost of cash. The purpose of this article is to introduce the reader to some of the research economists do on consumer holding and use of cash.

Citation

Shy, Oz. 2023. "Cash Is Alive: How Economists Explain Holding and Use of Cash." Journal of Economic Literature, 61 (4): 1465–1520. DOI: 10.1257/jel.20221632

Additional Materials

JEL Classification

  • D11 Consumer Economics: Theory
  • D12 Consumer Economics: Empirical Analysis
  • E26 Informal Economy; Underground Economy
  • E31 Price Level; Inflation; Deflation
  • E41 Demand for Money
  • E42 Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems