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The Comparative Analysis of Settlement Systems

Kobayakawa, Shuji - C.E.P.R. Discussion Papers - 1997

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. …

Persistent link: https://www.econbiz.de/10005667037

The Microstructure of the Euro Money Market

Hartmann, Philipp; Manna, Michele; Manzanares, Andres - C.E.P.R. Discussion Papers - 2001

This Paper provides the first empirical examination of the microstructure of the euro money market, using tick data from brokers located in six countries. Special emphasis is put on the institutional environment (monetary policy decisions and their implementation, payment systems and private...

Persistent link: https://www.econbiz.de/10005123983

Efficient Pricing of Large Value Interbank Payment Systems

Holthausen, Cornelia; Rochet, Jean-Charles - C.E.P.R. Discussion Papers - 2003

This Paper studies the efficient pricing of large-value payment systems in the presence of unobservable heterogeneity across banks. It is shown that the optimal pricing scheme for a public monopoly system involves quantity discounts in the form of a decreasing marginal fee. This is also true...

Persistent link: https://www.econbiz.de/10005497764

Technological adoption in health care

Barros, Pedro Luis Pita; Martinez-Giralt, Xavier - C.E.P.R. Discussion Papers - 2009

This paper addresses the impact of payment systems on the rate of technology adoption. We present a model where technological shift is driven by demand uncertainty, increased patients' benefit, financial variables, and the reimbursement system to providers. Two payment systems are studied: cost...

Persistent link: https://www.econbiz.de/10008558590