US households stick with favourite payment methods
The prevalence of cash use in the US is common across the population and is not due to one subset of consumers with particular preferences, a recent research paper published by the Federal Reserve Bank of Boston finds.
The study, Payment Choice with Consumer Panel Data by Michael Cohen and Marc Rysman, uses scanner data to track payment choice for grocery purchases for a large panel of households over three years. It shows that households focus most of their expenditures on one, or at most two
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
New NBER research sheds light on ‘cheapflation’
Savings from price discounts partially offset by price hikes for cheaper products
IMF extends higher loan caps for low-income countries
PRGT will be able to hand out bigger credits through end of 2024
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
Morocco gets IMF loan to deal with environmental crisis
Drought is becoming major challenge to macroeconomic stability, official says
US CPI inflation rises slightly
Rising shelter prices cause more than 90% of increase, but SF Fed predicts they will fall
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
Sarb deputy warns on growth prospects
Cassim says economy is “remarkable for the wrong reasons”
Blanchard and Summers say higher inflation likely to persist
Veteran economists say structural factors are likely to push up neutral rate and inflation