Credit Cards and Money Demand: A Cross-sectional Study
AbstractThis 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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Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 27 (1995)
Issue (Month): 2 (May)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
Other versions of this item:
- John V. Duca & William C. Whitesell, 1991. "Credit cards and money demand: a cross-sectional study," Research Paper 9112, Federal Reserve Bank of Dallas.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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