支付工具的選擇：現金與轉帳卡

Currency and Debit cards as Means of Payment

楊謹如(Jin-Ru Yang)

指導教授 ： 李怡庭

國立臺灣大學/社會科學院/經濟學研究所/碩士(2009年)

https://doi.org/10.6342/NTU.2009.02591

摘要

我們使用貨幣搜尋模型來分析現金和轉帳卡是否能成為支付工具?
在本文中,假設現金有被偷的風險,然而轉帳卡在交易中的接受度較現金低。我們用訊息障礙來刻畫不同資產的接受度或流動性。在非集中市場時,當人們無法辨識資產時,他們便不會接受這項資產。在我們模型中,一開始我們假設接受轉帳卡的機率是外生給定的,接著再由人們決定是否要成為有能力區分轉帳卡的人,此部份是內生決定的。此外,我們區分兩種銀行機構,第一種情形銀行會付給存款戶利息;另外一種情形是銀行會向存款戶收取帳戶管理費。結論為當考慮轉帳卡是外生給定的情況下,不管銀行要支付利息或收取帳戶保管費的情況,當現金和轉帳卡同時為支付工具的選擇這個均衡存在時,都存在複均衡的情況。當我們考慮轉帳卡是內生給定的情況下,在銀行收取帳戶保管費的例子中,現金和轉帳卡同時為支付工具的選擇的均衡中只存在ㄧ個均衡,此時更多人願意接受轉帳卡,因為人們要變成具備能辨識轉帳卡的能力所需的成本明顯降低。

關鍵字

貨幣搜尋模型 ； 支付工具 ； 非集中市場 ； 付利息 ； 收取帳戶管理費

並列摘要

We study the use of cash and debit cards as means of payment in a monetary search model. Cash is subject to the risk of theft, while debit cards may be less acceptable than cash in transactions. The informational friction is introduced to justify the differentials in the acceptability or, liquidity, of assets. Agents who do not recognize an asset do not accept it in a decentralized trade. In the benchmark model, the acceptability of debit cards is exogenously given, while it is endogenized as determined by agents’ decision to acquire information. Moreover, we consider two versions of the financial institution -- in the first version banks pay interests for deposits, while in the other banks charge an account maintenance fee.Consider the acceptability of debit cards is exogenously given, when banks pay interests for deposits or charge account maintenance fees, there exist multiple equilibria in cash and debit cards could be accepted as means of payment.When the acceptability of endogenously determined and the bank charge an account maintenance fee, there exist a unique equilibrium in cash and debit cards could be accepted as means of payment. In addition, more stores want to accept debit cards in this situation, because agents could less cost to become informed.

並列關鍵字

monetary search model ； Means of Payment ； decentralized trade ； pay interes ； charge an account maintenance fee

參考文獻

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Li, Y. (2006) ”Currency and Checking Deposits as Means of Payment,”manuscript.