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Credit Cards and Money Demand: A Cross-sectional Study

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Author Info
Duca, John V
Whitesell, William C

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Abstract

This study investigates credit card holding and the household demands for several monetary assets in a simultaneous equations framework. It exploits the detailed data on household assets as well as demographic and preference characteristics in the 1983 Survey of Consumer Finances. A key finding is that, consistent with theory, a higher probability of credit card ownership implies lower demand for transaction balances with no effect on small time deposit balances. Copyright 1995 by Ohio State University Press.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

Volume (Year): 27 (1995)
Issue (Month): 2 (May)
Pages: 604-23
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Handle: RePEc:mcb:jmoncb:v:27:y:1995:i:2:p:604-23

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

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  1. Helmut Stix, 2003. "How Do Debit Cards Affect Cash Demand? Survey Data Evidence," Working Papers 82, Oesterreichische Nationalbank (Austrian Central Bank). [Downloadable!]
    Other versions:
  2. Lippi, Francesco & Secchi, Alessandro, 2006. "Technological change and the demand for currency: An analysis with household data," CEPR Discussion Papers 6023, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  3. Elizabeth Klee, 2006. "Families' use of payment instruments during a decade of change in the U.S. payment system," Finance and Economics Discussion Series 2006-01, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  4. Nicole Jonker, 2005. "Payment Instruments as Perceived by Consumers - a Public Survey," DNB Working Papers 053, Netherlands Central Bank, Research Department. [Downloadable!]
  5. Kathleen Johnson, 2007. "The Transactions Demand for Credit Cards," Topics in Economic Analysis & Policy, Berkeley Electronic Press, vol. 7(1), pages 1411-1411. [Downloadable!] (restricted)
  6. Jyrkönen , Hanna, 2004. "Less cash on the counter: Forecasting Finnish payment preferences," Research Discussion Papers 27/2004, Bank of Finland. [Downloadable!]
  7. Ann L. Owen & Christopher Fogelstrom, 2005. "Monetary policy implications of electronic currency: an empirical analysis," Applied Economics Letters, Taylor and Francis Journals, vol. 12(7), pages 419-423, June. [Downloadable!] (restricted)
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