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 InfoPaper provided by Federal Reserve Bank of Dallas in its series Research Paper with number 9112.
Date of creation: 1991
Date of revision:
Other versions of this item:
- Duca, John V & Whitesell, William C, 1995. "Credit Cards and Money Demand: A Cross-sectional Study," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(2), pages 604-23, May.
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.:
- John V. Duca & Stuart S. Rosenthal, 1991. "An econometric analysis of borrowing constraints and household debt," Research Paper 9111, Federal Reserve Bank of Dallas.
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- Reuben Gronau, 1974.
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- Akhand, Hafiz & Milbourne, Ross, 1986. "Credit cards and aggregate money demand," Journal of Macroeconomics, Elsevier, vol. 8(4), pages 471-478.
- Edgar L. Feige, 1964. "The Demand For Liquid Assets: A Temporal Cross‐Section Analysis," Journal of Finance, American Finance Association, vol. 19(1), pages 116-117, 03.
- Boyes, William J. & Hoffman, Dennis L. & Low, Stuart A., 1989. "An econometric analysis of the bank credit scoring problem," Journal of Econometrics, Elsevier, vol. 40(1), pages 3-14, January.
- Feige, Edgar L, 1974. "Temporal Cross-Section Specifications of the Demand for Demand Deposits," Journal of Finance, American Finance Association, vol. 29(3), pages 923-40, June.
- White, Kenneth J, 1976. "The Effect of Bank Credit Cards on the Household Transactions Demand for Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(1), pages 51-61, February.
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