Report

U.S. consumers' holdings and use of $100 bills


Abstract: Conventional wisdom asserts that $100 bills are often associated with crime and foreign cash holdings, leading some commentators to call for their elimination; in light of this proposal, it is useful to examine the legal, domestic use of cash. This report uses new data from the 2012 Diary of Consumer Payment Choice (DCPC) to evaluate consumer use of $100 bills as a means of payment.

Keywords: money demand; $100 bill; Diary of Consumer Payment Choice; currency denominations;

JEL Classification: D14; E41;

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File(s): File format is application/pdf http://www.bostonfed.org/economic/rdr/2014/rdr1403.pdf
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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Research Data Report

Publication Date: 2014-11-25

Pages: 26 pages

Order Number: 14-3