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Replacement of cash by cards in US consumer payments [An article from: Journal of Economics and Business]
Book Details
Author(s)D.B. Humphrey
PublisherElsevier
ISBN / ASINB000RQZD36
ISBN-13978B000RQZD33
AvailabilityAvailable for download now
MarketplaceUnited States 🇺🇸
Description
This digital document is a journal article from Journal of Economics and Business, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
Time-series data on cash use in any country is essentially nonexistent. An econometric model is developed to overcome this difficulty. Applied to the US, we estimate cash use over the past 25 years. The share of cash in (legal) consumer payments appears to have fallen by a third, from 0.31 in 1974 to 0.20 in 2000. Checks replaced some cash during the 1970s, credit cards replaced some checks during the 1980s, while debit cards replaced both cash and checks in the 1990s. Even so, cash is not projected to go to zero anytime soon (95 words).
Description:
Time-series data on cash use in any country is essentially nonexistent. An econometric model is developed to overcome this difficulty. Applied to the US, we estimate cash use over the past 25 years. The share of cash in (legal) consumer payments appears to have fallen by a third, from 0.31 in 1974 to 0.20 in 2000. Checks replaced some cash during the 1970s, credit cards replaced some checks during the 1980s, while debit cards replaced both cash and checks in the 1990s. Even so, cash is not projected to go to zero anytime soon (95 words).
