Credit cards and money demand: a cross-sectional study
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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- 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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