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Impact of bank competition on the interest rate pass-through in the euro area

leuvensteijn, M. van; Sorensen, C. Kok; Bikker, J.A.; … - de Nederlandsche Bank - 2008

This paper analyses the impact of loan market competition on the interest rates applied by euro area banks to loans and … deposits during the 1994-2004 period, using a novel measure of competition called the Boone indicator. We find evidence that … stronger competition implies significantly lower spreads between bank and market interest rates for most loan market products …

Persistent link: https://www.econbiz.de/10005106652

Retail Payments in the Netherlands: some Facts and Some Theory

Bolt, W. - de Nederlandsche Bank - 2003

In the first part of this article we present a brief description of Dutch retail payment systems in terms of market structure and performance, usage of payment instruments, and corresponding tariff structures. Although it is con-cluded that the Dutch retail payment market as a whole showed...

Persistent link: https://www.econbiz.de/10005106713

Microfoundations of Two-sided Markets: The Payment Card Example

McAndrews, James; Wang, Zhu - de Nederlandsche Bank - 2007

empirical predictions and is less dependent on a particular form of imperfect competition than other approaches. Our findings in …

Persistent link: https://www.econbiz.de/10005021829

Must-Take Cards and the Tourist Test

Rochet, Jean-Charles; Tirole, Jean - de Nederlandsche Bank - 2007

Antitrust authorities often argue that merchants cannot reasonably turn down payment cards and therefore are forced to accept unacceptably high merchant discounts. The paper attempts to shed light on this must-take cards view from two angles. First, the paper gives some operational content to...

Persistent link: https://www.econbiz.de/10005021836

Credit in a Tiered Payments System

Lai, Alexandra; Chande, Nikil; O'Conner, Sean - de Nederlandsche Bank - 2007

Payments systems are typically characterized by some degree of tiering, with upstream firms (clearing agents) providing settlement accounts to downstream institutions that wish to clear and settle payments indirectly in these systems (indirect clearers). Clearing agents provide their indirect...

Persistent link: https://www.econbiz.de/10005021840

Skewed Pricing in Two-Sided Markets: An IO approach

Bolt, Wilko; Tieman, Alexander F. - de Nederlandsche Bank - 2004

In two-sided markets, one widely observes skewed pricing strategies, in which the price mark-up is much higher on one side of the market than the other. Using a simple model of two-sided markets, we show that, under constant elasticity of demand, skewed pricing is indeed pro?t maximizing. The...

Persistent link: https://www.econbiz.de/10004970699

A Note on Social Welfare and Cost Recovery in Two-Sided Markets

Bolt, Wilko; Tieman, Alexander - de Nederlandsche Bank - 2004

Using a simple model of two-sided markets, we show that, in the social optimum, platform pricing leads to an inherent cost recovery problem. This result is driven by the positive externality of participation that users on either side of the market exert on the opposite side. The contribution of...

Persistent link: https://www.econbiz.de/10005101818

Pricing Debit Card Payments Services: An IO approach

Bolt, W.; Tieman, A.F. - de Nederlandsche Bank - 2003

In this paper we present a theoretic framework to analyse pricing structures in debit card schemes. Card-holders value debit cards only to the extent that these are accepted by retailers, while retailers in turn benefit from a widespread usage of cards. This points to the two-sided nature of the...

Persistent link: https://www.econbiz.de/10005101905

Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence

Blinder, Alan S.; Ehrmann, Michael; Fratzscher, Marcel; … - de Nederlandsche Bank - 2008

Over the last two decades, communication has become an increasingly importantaspect of monetary policy. These real-world developments have spawned a huge newscholarly literature on central bank communicationmostly empirical, and almost all of it written in this decade. We survey this...

Persistent link: https://www.econbiz.de/10005106644

Location Decisions of Foreign Banks and Institutional Competitive Advantage

Claessens, Stijn; Horen, Neeltje van - de Nederlandsche Bank - 2008

Familiarity with working in a specific institutional environment compared to its competitors can provide a firm with a competitive advantage, making it invest in specific host countries. We examine whether this notion of institutional competitive advantage drives banks to seek out specific...

Persistent link: https://www.econbiz.de/10005106662