Credit Cards and Money Demand: A Cross-sectional Study

John Duca and William C Whitesell

Journal of Money, Credit and Banking, 1995, vol. 27, issue 2, 604-23

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.

Date: 1995
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Working Paper: Credit cards and money demand: a cross-sectional study (1991)
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:27:y:1995:i:2:p:604-23

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