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dc.contributor.authorvon Kalckreuth, Ulfen
dc.contributor.authorSchmidt, Tobiasen
dc.contributor.authorStix, Helmuten
dc.date.accessioned2010-01-28-
dc.date.accessioned2010-02-24T15:51:43Z-
dc.date.available2010-02-24T15:51:43Z-
dc.date.issued2009-
dc.identifier.isbn978-3-86558-592-9en
dc.identifier.urihttp://hdl.handle.net/10419/30032-
dc.description.abstractGermans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data on payment behaviour of German consumers, we shed light on how individuals choose payment instruments and why cash remains so important. We propose a two-stage empirical framework which jointly explains credit card ownership and the use of cash. Our results indicate that the pattern of cash usage is compatible with systematic economic decision making. Consumers decide upon the adoption of payment cards and then use available payment media according to their transaction and personal characteristics, the relative costs of cash and card usage, and their assessment of payment instruments' characteristics. Whereas older consumers use significantly more cash, the comparison with younger consumers shows that the difference in payment behaviour is not explained by age as such but to a large extent by differences in the characteristics of these two groups. It is interesting that the possession of a credit card, especially alongside a debit card, does not significantly affect the use of cash in Germany.en
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2009,36en
dc.subject.jelE41en
dc.subject.jelE58en
dc.subject.jelD12en
dc.subject.ddc330en
dc.subject.keywordPayment instrumentsen
dc.subject.keywordpayment cardsen
dc.subject.keywordpayment behaviouren
dc.subject.keywordpayment innovationen
dc.subject.keywordcash usageen
dc.subject.keywordcash substitutionen
dc.subject.keyworddebit cardsen
dc.subject.keywordcredit cardsen
dc.subject.keywordsurvey dataen
dc.subject.stwZahlungsverkehren
dc.subject.stwKonsumentenverhaltenen
dc.subject.stwKreditkarteen
dc.subject.stwGeldumlaufen
dc.subject.stwMikrodatenen
dc.subject.stwDeutschlanden
dc.titleChoosing and using payment instruments: evidence from German microdata-
dc.typeWorking Paperen
dc.identifier.ppn61738505Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:200936en

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