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Credit cards and money demand: a cross-sectional study

Author

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  • Duca, John V.

    (Federal Reserve Bank of Dallas)

  • Whitesell, William C.

Abstract

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

Suggested Citation

  • Duca, John V. & Whitesell, William C., 1991. "Credit cards and money demand: a cross-sectional study," Working Papers 9112, Federal Reserve Bank of Dallas.
  • Handle: RePEc:fip:feddwp:9112
    Note: Published as: Duca, John V. and William C. Whitesell (1995), "Credit Cards and Money Demand: A Cross-Sectional Study," Journal of Money, Credit and Banking 27 (2): 604-623.
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