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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- Akhand, Hafiz & Milbourne, Ross, 1986. "Credit cards and aggregate money demand," Journal of Macroeconomics, Elsevier, vol. 8(4), pages 471-478.
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- John V. Duca & Stuart S. Rosenthal, 1991.
"An econometric analysis of borrowing constraints and household debt,"
9111, Federal Reserve Bank of Dallas.
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- Reuben Gronau, 1974.
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in: Economics of the Family: Marriage, Children, and Human Capital, pages 457-490
National Bureau of Economic Research, Inc.
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- Tullio Jappelli, 1990. "Who is Credit Constrained in the U. S. Economy?," The Quarterly Journal of Economics, Oxford University Press, vol. 105(1), pages 219-234.
- Heckman, James J, 1978.
"Dummy Endogenous Variables in a Simultaneous Equation System,"
Econometric Society, vol. 46(4), pages 931-59, July.
- James J. Heckman, 1977. "Dummy Endogenous Variables in a Simultaneous Equation System," NBER Working Papers 0177, National Bureau of Economic Research, Inc.
- 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.
- 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.
- Lindley, James T. & Rudolph, Patricia & Selby, Edward Jr., 1989. "Credit card possesion and use: Changes over time," Journal of Economics and Business, Elsevier, vol. 41(2), pages 127-142, May.
- Lee, Lung-Fei & Trost, Robert P., 1978. "Estimation of some limited dependent variable models with application to housing demand," Journal of Econometrics, Elsevier, vol. 8(3), pages 357-382, December.
- 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.
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