Withering cash: Sweden seems special rather than ahead of the curve (VOXEU)

While the ratio of physical cash to GDP has increased in most countries over the last years, it has fallen dramatically in Sweden. This column argues that rather than being ahead of the curve, a unique combination of events and policy measures have led to the falling cash demand in Sweden. Among those are measures to reduce tax evasion and the informal sector, an aggressive notes changeover, the introduction of an electronic payment app, the withdrawal of central bank subsidies to cash distribution, and a track record of protecting commercial bank money during crises.

https://voxeu.org/article/withering-cash-sweden-seems-special-rather-ahead-curve

Hanna Armelius, Carl Andreas Claussen, André Reslow

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