This paper reports a cross-sectional study of the use of cash in retail transactions among 36 countries between 2010 …-17. The retail use of cash in increased with concern for privacy and decreased with trust in banks. An increase in concern for … with an increase in cash usage by 11.1 percentage points. An increase in trust in banks by one standard deviation …

The 2020 CARES Act directed large cash payments to households. We analyze house-holds' spending responses using high …

points and monthly spending increased by 3% for an additional 10 percentage points in prior cash dependence. Spending … remained elevated even when cash availability recovered. Robustness analyses show that the spending response is not driven by …