How people pay: Evidence from grocery store data

• 成果类型: Article
• 署名作者: Klee, Elizabeth
• 署名单位: Federal Reserve System - USA
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2008.01.009
• 发表日期: 2008
• 页码: 526-541
• 关键词: media of exchange; monetary and payment economics; consumer behavior

摘要

Empirical evidence based on grocery store transaction data shows that consumer payment behavior at the point of sale is important for understanding models of money demand. There are statistically significant effects of transaction costs, opportunity costs, and product characteristics on the choice of payment instrument, which then, in turn, affect money demand. These results emphasize the overlap between the work of empirical researchers in payment choice and theoretical modelers of monetary economics and should inform both literatures. (C) 2008 Elsevier B.V. All rights reserved.