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market. We infer actual interest rates from interbank transactions recorded in the real-time gross settlement (RTGS) system …
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that large-sized payments are settled in the real time gross settlement (RTGS) mode, whereas small ones are dealt with in … the designated time net settlement system. Yet the introduction of the RTGS system imposes substantial costs of … a rationale behind the coexistence of both the RTGS and net settlement systems. …
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Recent developments in private payments arrangements, particularly at the wholesale level, (including recent innovations in China) challenge central banks’ longstanding monopoly on the provision of the ultimate means of settlement for financial transactions. This paper examines competition...
Persistent link: https://www.econbiz.de/10010866545
With the aim to measure and monitor systemic risk, we present some topological metrics for the interbank exposures and the payments system networks. The evolution of such networks is analyzed, we draw important conclusions from the systemic risk's perspective and propose a measure of...
Persistent link: https://www.econbiz.de/10011051950
According to theory, money supports trade in a world without enforcement and, in particular, in large societies, where gift-exchange is unsustainable. It is demonstrated that, in fact, monetary equilibrium breaks down in the absence of adequate enforcement institutions and it collapses as...
Persistent link: https://www.econbiz.de/10011120386
The relationship between practice intensity and the quality and outcomes of care has not been studied.
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