La transformación en el uso de efectivo y pagos digitales durante la pandemia de Covid-19

Batiz-Lazo, Bernardo and Bautista-González, Manuel A and González-Correa, Ignacio (2021): La transformación en el uso de efectivo y pagos digitales durante la pandemia de Covid-19. Forthcoming in: Papeles de Economía Española No. 176 (2022)

Abstract

Resumen: No hay evidencia sustancial de que la pandemia de Covid-19 represente un cambio estructural hacia una economía sin efectivo (cashless) en el sector de pagos minoristas. En el corto plazo, los consumidores aumentaron su volumen de pagos digitales y sin contacto (contactless) como respuesta a los confinamientos y creencias de que el efectivo podría propagar el virus. Sin embargo, lo anterior no ha resultado en una reducción permanente en el uso o eliminación de billetes y monedas. Además, en muchos países se observó la “paradoja del efectivo”, es decir, una disminución del efectivo como medio de pago y, simultáneamente un alza en su demanda precautoria ante la incertidumbre y el deterioro en las expectativas económicas.

Abstract: Definitive and uncontroversial evidence is yet to emerge that the Covid-19 pandemic brought about a structural shift to a cashless economy in the retail payments sector. In the short term, consumers increased their volume of digital and contactless payments in response to lockdowns and beliefs that cash could spread the virus. However, this has not resulted in a permanent reduction in the usage or elimination of banknotes and coins. Moreover, there was a “cash paradox” in many countries, i.e., a decrease in the demand of banknotes as means of payment and, simultaneously, a rise in its precautionary demand of cash given consumers’ heightened uncertainty and the deterioration of economic expectations.

• Item Type: MPRA Paper
• English Title: Thye transformation in the use of cash and digital payments during the Covid-19 pandemioc
• Language: Spanish
• Keywords: Keywords: cash, cashless economy, cashless society, banknotes and coins, digital payments, Covid-19 pandemic, retail payments, Spain, United States, United Kingdom, Mexico. Palabras Clave: efectivo, economía sin efectivo, sociedad sin efectivo, billetes y monedas, pagos digitales, pandemia de Covid-19, sistema de pagos minorista, España, Estados Unidos, Reino Unido, México.
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E40 - General; G - Financial Economics > G2 - Financial Institutions and Services > G20 - General; L - Industrial Organization > L8 - Industry Studies: Services > L81 - Retail and Wholesale Trade ; e-Commerce; N - Economic History > N2 - Financial Markets and Institutions > N20 - General, International, or Comparative

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