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Policy Hub Papers feature more detailed analyses of economic topics by staff economists and researchers for both academic and nonacademic audiences.

Jan 12, 2021

Consumer Behavior in a Health Crisis: What Happened with Cash?

When the coronavirus pandemic began in the United States, caseloads and currency in circulation both surged. Did consumer choice play a role in the increase in currency in circulation? This Policy Hub article uses survey data to explore consumer behavior around cash holdings and payments.