context of historical institutional change in the economy-wide payments system. The first part presents the central in …-stitutional characteristics of the economy-wide payments system and the conceptualisation of the fundamentals of monetary policy. The second part …

commitment outweigh welfare costs of central bank's inaction. Second, we solve for the optimal frequency of policy adjustment and …

This paper attempts to provide an empirical determination of the Philippine central bank's (BSP) recent monetary policy …

the retail payments system. Through the potential private issue of currency via new electronic payments systems … the respective market. Thereby, the efficiency of the retail payments system would be enhanced. The following paper … evolutionary point of view based on the interpretation of new electronic payments systems as networks The strategic incentives for …

suggests that issuers should maximize demand and profits by offering interest payments or insurance against loss. …

banking. …

same unit operating costs. This provides an incentive for users to shift payments to the more risky network in normal times …

environmental harm, information and training programmes to promote environmentally friendly farming practices, and payments that … standards, programmes, and payments on agricultural production and trade. The first is concerned with the impact of differences …