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How Do Debit Cards Affect Cash Demand? Survey Data Evidence

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  • Helmut Stix

    ()

Abstract

This paper analyzes how EFT-POS payments and ATM withdrawals affect cash demand. In particular, survey data about Austrian individuals are employed to estimate a purse cash demand equation, which takes account of sample selection effects. The results reveal that purse cash demand is significantly and sizably affected by debit card usage and that there are significant differences in cash demand for individuals with different debit card usage frequencies. In addition, the effect of EFT-POS payments on cash use at the point-of-sale is discussed on the basis of data from a consumer transaction survey. Copyright Kluwer Academic Publishers 2004

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.1007/s10663-004-1079-y
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Article provided by Springer in its journal Empirica.

Volume (Year): 31 (2004)
Issue (Month): 2 (June)
Pages: 93-115

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Handle: RePEc:kap:empiri:v:31:y:2004:i:2:p:93-115
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100261

Keywords: Cash demand; payment cards; cash substitution;

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Find related papers by JEL classification:
  • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
  • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
  • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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  1. Mathias Drehmann & Charles Goodhart & Malte Krueger, 2002. "The challenges facing currency usage: will the traditional transaction medium be able to resist competition from the new technologies?," Economic Policy, CEPR;CES;MSH, vol. 17(34), pages 193-228, 04.
  2. Jussi Snellman & Jukka Vesala & David Humphrey, 2001. "Substitution of Noncash Payment Instruments for Cash in Europe," Journal of Financial Services Research, Springer;Western Finance Association, vol. 19(2), pages 131-145, April.
  3. Brian M. Doyle, 2000. ""Here, dollars, dollars ..."estimating currency demand and worldwide currency substitution," International Finance Discussion Papers 657, Board of Governors of the Federal Reserve System (U.S.).
  4. Orazio P. Attanasio & Luigi Guiso & Tullio Jappelli, 2002. "The Demand for Money, Financial Innovation, and the Welfare Cost of Inflation: An Analysis with Household Data," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 317-351, April.
  5. 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.
  6. Laura Rinaldi, . "Payment Cards and Money Demand in Belgium," International Economics Working Papers Series ces0116, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, International Economics.
  7. Sheri M. Markose & Yiing Jia Loke, 2003. "Network Effects On Cash-Card Substitution In Transactions And Low Interest Rate Regimes," Economic Journal, Royal Economic Society, vol. 113(487), pages 456-476, 04.
  8. Paunonen, Heli & Jyrkönen, Hanna, 2002. "Cash usage in Finland : How much can be explained?," Research Discussion Papers 10/2002, Bank of Finland.
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