The economic research and publications listed here have written about or used data collected via the Survey and Diary of Consumer Payment Choice.
In addition, see the Research Data Reports for results, key findings, additional research, and methodology.
Views expressed in these publications are the authors’ and not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System. Any errors are the authors’ responsibility.
2024
Who Is Paying All These Fees? An Empirical Analysis of Bank Account and Credit Card Fees. Oz Shy and Joanna Stavins. Journal of Economics and Business, January 6.
2023
2023 Findings from the Diary of Consumer Payment Choice. Emily Cubides and Shaun O’Brien. Federal Reserve Bank of San Francisco, May 5.
Cash Payments and the Penny Policy Debate. Brian Prescott and Oz Shy. Journal of Economic Behavior and Organization 208.
Credit Card Debt Puzzle: Liquid Assets to Pay Bills. Claire Greene and Joanna Stavins. International Review of Economics 70.
Changes in US Payment Behavior during COVID-19: Differences by Income and Demographics. Claire Greene, Ellen Merry, and Joanna Stavins. Journal of Payments Strategy & Systems 17(3).
Distributional Effects of Payment Card Pricing and Merchant Cost Pass-Through in the United States and Canada. Marie-Hélène Felt, Fumiko Hayashi, Joanna Stavins, and Angelika Welte. Journal of Banking and Finance 154.
How US Consumers without Bank Accounts Make Payments. Claire Greene and Oz Shy. Atlanta Fed Policy Hub 23-1.
Personality Traits and Financial Outcomes. Claire Greene, Oz Shy, and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 23-4.
Regulating Competing Payment Networks. Lulu Wang. Stanford University dissertation.
2022
2022 Findings from the Diary of Consumer Payment Choice. Emily Cubides and Shaun O’Brien. Federal Reserve Bank of San Francisco, May 5.
Effects of Personality Traits on Payment Behavior: Evidence from the United States. Aditi Routh. University of Georgia dissertation.
Payment Card Adoption and Payment Choice. Claire Greene and Oz Shy. Federal Reserve Bank of Atlanta Policy Hub 22-10.
Payments Evolution from Paper to Electronic Payments by Merchant Type. Ruth Cohen, Oz Shy, and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 22-6.
2021
2021 Findings from the Diary of Consumer Payment Choice. Kelsey Coyle, Laura Kim, and Shaun O’Brien. Federal Reserve Bank of San Francisco, May 5.
Cashless Stores and Cash Users. Oz Shy. Journal of Policy Modeling 43(3).
Consumer Payments and the COVID-19 Pandemic: Findings from the April 2021 Supplemental Survey. Shaun O’Brien. Federal Reserve Bank of San Francisco, September 21.
Consumer Payments and the COVID-19 Pandemic: The Second Supplement to the 2020 Findings from the Diary of Consumer Payment Choice. Kelsey Coyle, Laura Kim, and Shaun O’Brien. Federal Reserve Bank of San Francisco, February 9.
Consumer Use of Multiple Payment Methods. Oz Shy. Review of Industrial Organization 58(3).
Distrust or Speculation? The Socioeconomic Drivers of U.S. Cryptocurrency Investments. Raphael Auer and David Tercero-Lucas. BIS Working Paper 951.
Division of Financial Responsibility among Mixed-Gender Couples. Marcin Hitczenko. Federal Reserve Bank of Atlanta Working Paper 2021-8.
Has COVID Changed Consumer Payment Behavior? Claire Greene, Ellen Merry, and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 21-12.
How People Pay Each Other: Data, Theory, and Calibrations. Claire Greene, Brian Prescott, and Oz Shy. Federal Reserve Bank of Atlanta Working Paper 21-11.
Improved Estimation of Poisson Rate Distributions through a Multi-Mode Survey Design. Marcin Hitczenko. Federal Reserve Bank of Atlanta Working Paper 2021-10.
Inequalities in Payment Innovation Adoption. Daniel R. Horne, and Patricia A. Norberg. Consumer Interests Annual 67.
Payments Evolution from Paper to Electronic: Bill Payments and Purchases. Joanna Stavins. Federal Reserve Bank of Boston Working Paper 21-5.
Sample Bias Related to Household Role. Marcin Hitczenko. Federal Reserve Bank of Atlanta Working Paper 2021-9.
2020
2020 Findings from the Diary of Consumer Payment Choice. Laura Kim, Raynil Kumar, and Shaun O’Brien. Federal Reserve Bank of San Francisco, July 31.
Alternative Methods for Studying Consumer Payment Choice. Oz Shy. Federal Reserve Bank of Atlanta Working Paper 2020-8a.
The Cash Society. Claire Greene. Journal of Payments Strategy & Systems 14 (2).
Consumer Payment Choice for Bill Payments. Claire Greene and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 20-9.
Consumer Payments and the COVID-19 Pandemic: A Supplement to the 2020 Findings from the Diary of Consumer Payment Choice. Laura Kim, Raynil Kumar, and Shaun O’Brien. Federal Reserve Bank of San Francisco, July 31.
Credit Card Debt and Consumer Payment Choice: What Can We Learn from Credit Bureau Data? Joanna Stavins. Journal of Financial Services Research 58.
How Currency Denomination and the ATM Affect the Way We Pay. Oz Shy. Journal of Economics and Business 111.
Low-Income Consumers and Payment Choice. Oz Shy. Research in Economics 74(4).
2019
2019 Findings from the Diary of Consumer Payment Choice. Raynil Kumar and Shaun O’Brien. Federal Reserve Bank of San Francisco, June 26.
Cash Me If You Can: The Impacts of Cashless Businesses on Retailers, Consumers, and Cash Use. Claire Wang. Federal Reserve Bank of San Francisco, August 19.
Cashless Stores and Cash Users. Oz Shy. Federal Reserve Bank of Atlanta Working Paper 2019-11b.
Consumer Use of Multiple Payment Methods. Oz Shy. Federal Reserve Bank of Atlanta Working Paper 2019-19a.
How Currency Denomination and the ATM Affect the Way We Pay. Oz Shy. Federal Reserve Bank of Atlanta Working Paper 2019-02b.
How Does Liquidity Affect Consumer Payment Choice? Joanna Stavins. Federal Reserve Bank of Boston Research Department Working Paper 19-7.
2018
2018 Findings from the Diary of Consumer Payment Choice. Raynil Kumar, Tayeba Maktabi, and Shaun O’Brien. Federal Reserve Bank of San Francisco, November 15.
Consumer Preferences for Payment Methods: Role of Discounts and Surcharge. Joanna Stavins. Journal of Banking and Finance 94.
Credit Card Debt and Consumer Payment Choice: What Can We Learn from Credit Bureau Data? Joanna Stavins. Federal Reserve Bank of Boston Working Paper 18-7.
2017
Are There Social Spillovers in Consumers' Security Assessments of Payment Instruments? Charles Kahn and José Liñares-Zegarra, and Joanna Stavins. Journal of Financial Services Research 52(1–2).
Battery Order Effects on Relative Ratings in Likert Scales. Marcin Hitczenko. Federal Reserve Bank of Boston Research Data Report 17-2.
Cash Holdings: A New View on Cash. Claire Wang. Federal Reserve Bank of San Francisco, June 28.
Did the Target Data Breach Change Consumer Assessments of Payment Card Security? Claire Greene and Joanna Stavins. Journal of Payments Strategy & Systems 11(2).
How Do Consumers Make Their Payment Choices? Joanna Stavins. Federal Reserve Bank of Boston Working Paper 17-1.
Integrated Household Surveys: An Assessment of U.S. Methods and an Innovation. Krislert Sampranathak, Scott Schuh, and Robert M. Townsend. Economic Inquiry 56(1).
Measuring Consumer Expenditures with Payment Diaries. Scott Schuh. Economic Inquiry 56(1).
Payment Discounts and Surcharges: The Role of Consumer Preferences. Joanna Stavins and Huijia Wu. Federal Reserve Bank of Boston Working Paper 17-4.
Understanding Consumer Cash Use: Preliminary Findings from the 2016 Diary of Consumer Payment Choice. Shaun O’Brien. Federal Reserve Bank of San Francisco, November 28.
An Introduction to the Diary of Consumer Payment Choice. Claire Greene, Shaun O’Brien, and Scott Schuh. Federal Reserve Bank of Boston Research Data Report 17-6.
2016
Are There Social Spillovers in Consumers’ Security Assessments of Payment Instruments? Charles Kahn, José Manuel Liñares-Zegarra, and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 16-19.
Did the Target Data Breach Change Consumer Assessments of Payment Card Security? Claire Greene and Joanna Stavins. Federal Reserve Bank of Boston Research Data Report 16-1.
Do Consumers Rely More Heavily on Credit Cards While Unemployed?Allison Cole. Federal Reserve Bank of Boston Research Data Report 16-06.
The Effect of Demographics on Payment Behavior: Panel Data with Sample Selection. Joanna Stavins. Federal Reserve Bank of Boston Working Paper 16-5.
Explaining Adoption and Use of Payment Instruments by U.S. Consumers. Sergei Koulayev, Marc Rysman, and Scott Schuh, and Joanna Stavins. RAND Journal of Economics 47(2): 293–325.
Financial Inclusion and Consumer Payment Choice. Allison Cole and Claire Greene. Federal Reserve Bank of Boston Research Data Report 16-05.
Heterogeneity in Household Portfolios and its Implication for Fiscal and Monetary Policy. Ralph Clemens Lütticke. Universitat Bonn PhD dissertation.
How Do People Pay Rent? David Zhang. Federal Reserve Bank of Boston Research Data Report 16-2.
How Do Speed and Security Influence Consumers' Payment Behavior? Scott Schuh and Joanna Stavins. Contemporary Economic Policy 34(4).
The Impact of Mobile Payment on Payment Choice. T. Trütsch. Financial Markets and Portfolio Management 30(3).
The Influence of Gender and Income on the Household Division of Financial Responsibility. Marcin Hitczenko. Federal Reserve Bank of Boston Working Paper 16-20.
The State of Cash: Preliminary Findings from the 2015 Diary of Consumer Payment Choice. Wendy Matheny, Shaun O’Brien, and Claire Wang. Federal Reserve Bank of San Francisco, November 3.
2015
Merchant Steering of Consumer Payment Choice: Evidence from a 2012 Diary Survey. Oz Shy and Joanna Stavins. Journal of Behavioral and Experimental Economics 55.
Optimal Allocation of Social Cost for Electronic Payment System: A Ramsey Approach. P. Huang, Y.S. Kim, and M. Lee. Seoul Journal of Economics 28(1).
2014
Cash Continues to Play a Key Role in Consumer Spending: Evidence from the Diary of Consumer Payment Choice. Barbara Bennett, Douglas Conover, Shaun O’Brien, and Ross Advincula. Federal Reserve Bank of San Francisco, April 14.
Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data. John Bagnall, David Bounie, Kim P. Huynh, Anneke Kosse, Tobias Schmidt, Scott Schuh, and Helmut Stix. Federal Reserve Bank of Boston Working Paper 14-4.
Consumer Preferences and the Use of Cash: Evidence from the Diary of Consumer Payments Choice. Shaun O’Brien. Federal Reserve Bank of San Francisco Working Paper, July 21.
The Credit CARD Act of 2009: What Did Banks Do? Vikram Jambulapati and Joanna Stavins. 2014. Journal of Banking & Finance 46: 21–30.
The Impact of Contactless Payment on Spending. T. Trütsch. International Journal of Economic Sciences 3(4).
Marriage, Markets, and Money: A Coasian Theory of Household Formation. K. Burdett, M. Dong, L. Sun, and R. Wright. International Economic Review 57(2).
Measuring Unfamiliar Economic Concepts: The Case of Prepaid Card Adoption. Marcin Hitczenko and Mingzhu Tai. Federal Reserve Bank of Boston Working Paper 14-9.
Merchant Steering of Consumer Payment Choice: Evidence from a 2012 Diary Survey. Oz Shy and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 14-1.
Merchant Steering of Consumer Payment Choice: Lessons Learned from Consumer Surveys. Oz Shy and Joanna Stavins. 2014. Survey Methods: Insights from the Field.
This Is What's in Your Wallet...and Here's How You Use It. Tamás Briglevics and Scott Schuh. Federal Reserve Bank of Boston Working Paper 14-5.
U.S. Consumers' Holdings and Use of $100 Bills. Claire Greene, and Scott Schuh. Federal Reserve Bank of Boston 14-3.
2013
The Coexistence of Money and Credit as Means of Payment. S. Lotz and C Zhang. Presentation at the 2013 Federal Reserve Bank of Boston Payments Conference.
How Consumers Pay: Adoption and Use of Payments. Scott Schuh and Joanna Stavins.Accounting and Finance Research 2(2).
How Many Cards Do You Use? Oz Shy. Federal Reserve Bank of Boston Working Paper 13-13.
Modeling Anchoring Effects in Sequential Likert Scale Questions. Marcin Hitczenko. Federal Reserve Bank of Boston Working Paper 13-16.
Optimal Recall Period Length in Consumer Payment Surveys. Marcin Hitczenko. Federal Reserve Bank of Boston Working Paper 13-16.
U.S. Consumer Demand for Cash in the Era of Low Interest Rates and Electronic Payments. Tamás Briglevics and Scott Schuh. Federal Reserve Bank of Boston Working Paper 13-23.
2012
Identity Theft and Consumer Payment Choice: Does Security Really Matter? Charles M. Kahn and José Manuel Liñares-Zegarra. Journal of Financial Services Research 50.
Explaining Adoption and Use of Payment Instruments by U.S. Consumers. Sergei Koulayev, Marc Rysman, Scott Schuh, and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 12-14.
How Consumers Pay: Adoption and Use of Payments. Scott Schuh and Joanna Stavins. Federal Reserve Bank of Boston Working Paper 12-2.
Measuring Household Spending and Payment Habits: The Role of "Typical" and "Specific": Time Frames in Survey Questions. Marco Angrisani, Arie Kapteyn, and Scott Schuh. Federal Reserve Bank of Boston Working Paper 12-7.
2011
Adopting, Using, and Discarding Paper and Electronic Payment Instruments: Variation by Age and Race. R. J. Mann. Federal Reserve Bank of Boston Public Policy Discussion Paper 11-2.
2010
Consumer Payment Choice: Measurement Topics. Marc Rysman.The Changing Retail Payments Landscape, p. 61.
Why Are (Some) Consumers (Finally) Writing Fewer Checks? The Role of Payment Characteristics. Scott Schuh and Joanna Stavins. Journal of Banking and Finance 34(8).