This folder contains the code for the estimation and simulation results in Table 5, 6, 7, 8, 9, 11, A1, A2, and A3.



All results vectors consist of two columns, the first columns contains the coefficient estimates and the second column the standard error estimates.
Each columns starts with the fixed effects for the credit card equations (in the same order as in the the Table), followed by the random coefficients (if any) for the credit card equation, the scale coefficient for the credit card equation (if any), the fixed effects for the debit  card equations (in the same order as in the the Table), followed by the random coefficients (if any) for the debit card equation, the scale coefficient for the credit card equation (if any).


Table 5 and 6, 8: 
	Run "MatlabCodes\Estimation\version45\main_ver45",
		results1 corresponds to Model(i) in Table 6, 
		results3 corresponds to Model(ii) in Table 6, 
		results4 corresponds to Model(iii) in Table 6, 
		results5 corresponds to Model(iv) in Table 6, 
		results6 corresponds to Model(v) in Table 6,
		LR contains the Loglikelihood statistics in Table 5,
		PVAl contains the p-value of the LOglikelihood statistics in Table 5,
		InfoCri contains the LogLikelihood, AIC and BIC for each model in Table 6,
		Value contains the Value Shares in Table 8,
		Freq contains the Frequency Shares in Table 8.


Table 7
	Run "MatlabCodes\Estimation\version45\main_ver45_dropTV",
		results1 corresponds to Model(i) in Table 7, 
		results3 corresponds to Model(ii) in Table 7, 
		results4 corresponds to Model(iii) in Table 7,
		results5 corresponds to Model(iv) in Table 7,
		results6 corresponds to Model(v) in Table 7,
		InfoCri contains the LogLikelihood, AIC and BIC for each model in Table 7.

Table 9
	Copy the results vectors obtained in Step "Table 5 and 6, 8" into the directory "MatlabCodes\Simulation\version45\",
	Run "MATLAB Code for JMCB\Simulation\version45\simulation45"
		Sout45.txt contains the point estimates in Table 9,
		Sdout45.txt contains the standard errors in Table 9.


Table A1 
Run "MatlabCodes\Estimation\version45\main_ver46",
		results9 corresponds to Model(ii) in Table 12, 
		results10 corresponds to Model(iii) in Table 12, 
		results11 corresponds to Model(iv) in Table 12, 
		results12 corresponds to Model(v) in Table 12.
		
Table A2 
Run "MatlabCodes\Estimation\version45\main_ver45d",
		results1 corresponds to Model(i) in Table 13, 
		results3 corresponds to Model(ii) in Table 13, 
		results4 corresponds to Model(iii) in Table 13, 
		results5 corresponds to Model(iv) in Table 13, 
		results6 corresponds to Model(v) in Table 13.



Table A3
Run "MatlabCodes\Estimation\version45\main_ver45e",
		results1 corresponds to Model(i) in Table 14, 
		results3 corresponds to Model(ii) in Table 14, 
		results4 corresponds to Model(iii) in Table 14, 
		results5 corresponds to Model(iv) in Table 14, 
		results6 corresponds to Model(v) in Table 14.


Table 11 Panel A 
Copy the results vectors obtained in Step "Table A1" into the directory "MatlabCodes\Simulation\version46\",
	Run "MATLAB Code for JMCB\Simulation\version46\simulation46"
		Sout46.txt contains the point estimates in Table 11 Panel A,
		Sdout46.txt contains the standard errors in Table 11 Panel A.


Table 11 Panel B
Copy the results vectors obtained in Step "Table A2" into the directory "MatlabCodes\Simulation\version45d\",
	Run "MATLAB Code for JMCB\Simulation\version45d\simulation45d"
		Sout45d.txt contains the point estimates in Table 11 Panel B,
		Sdout45d.txt contains the standard errors in Table 11 Panel B.


Table 11 Panel C
Copy the results vectors obtained in Step "Table A3" into the directory "MatlabCodes\Simulation\version45e\",
	Run "MATLAB Code for JMCB\Simulation\version45e\simulation45e"
		Sout45e.txt contains the point estimates in Table 11 Panel C,
		Sdout45e.txt contains the standard errors in Table 11 Panel C.






