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首页> 外文期刊>Journal of Economic Dynamics and Control >A model of debit card as a means of payment
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A model of debit card as a means of payment

机译：一种借记卡付款方式

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摘要

This paper provides an explanation for both the rapid growth in the use of a debit card over time and the cross-sectional difference in the use of a debit card using a search-theoretic model. The trade-off between cash and a debit card as means of payment is incorporated such that a buyer incurs disutility cost proportional to the amount of cash holdings, while a seller accepting a debit card bears a fixed record-keeping cost regardless of transaction amount. As record-keeping cost decreases with the development of information technology over time, disutility cost of cash holdings required for pairwise trade eventually exceeds record-keeping cost so that all the agents with different wealth levels choose to use a debit card as a means of payment. Also, disutility cost of cash holdings required for pairwise trade would be higher for the rich than for the poor, implying the cross-sectional feature of payment pattern that the rich use a debit card more frequently than the poor. There are two distinct mechanisms that improve welfare as record-keeping cost decreases: one is to reduce deadweight loss from holding cash and the other is to reduce its distortionary effect on output produced in pairwise trade.
机译：本文为使用借记卡模型的借记卡使用量随时间的快速增长和借记卡使用量的横截面差异提供了解释。合并了现金和借记卡作为支付方式之间的权衡，使得买方产生与现金持有量成正比的无用成本，而接受借记卡的卖方则承担固定的记录保持成本，而与交易金额无关。随着随着时间的流逝信息技术的发展，保存记录的成本降低，成对交易所需的现金持有的无用成本最终超过了保存记录的成本，因此所有具有不同财富水平的代理商都选择使用借记卡作为付款方式。同样，成对交易所需的现金持有的无用成本，对于富人来说要比穷人高，这意味着付款方式的横截面特征是，富人比穷人更频繁地使用借记卡。随着记录成本的降低，有两种改善福利的独特机制：一种是减少持有现金带来的无谓损失，另一种是减少其对成对贸易产生的产出的扭曲影响。

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