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How long does it take you to pay? : a duration study of canadian retail transaction payment times
Vallée, Geneviève - 2018
-efficient method of payment (MOP) when compared with payments by debit and credit cards. I model payment efficiency using Cox … efficiency of MOPs is an important component of the private and social costs of making and accepting payments. The efficiency of …
Persistent link: https://www.econbiz.de/10011897736
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Government and private e-money-like systems : Federal Reserve notes and national bank notes
Weber, Warren E. - 2015
The period from 1914 to 1935 in the United States is unique in that it was the only time that both privately-issued bank notes (national bank notes) and central bank-issued bank notes (Federal Reserve notes) were simultaneously in circulation. This paper describes some lessons relevant to...
Persistent link: https://www.econbiz.de/10011280047
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A Bitcoin standard : lessons from the gold standard
Weber, Warren E. - 2016
This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange...
Persistent link: https://www.econbiz.de/10011446194
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Best before? : expiring central bank digital currency and loss recovery
Kahn, Charles M.; Oordt, Maarten R. C. van; Zhu, Yu - 2021 - Last updated: December 24, 2021
An important feature of physical cash payments is resilience, which is due to their indifference to power outages or …
Persistent link: https://www.econbiz.de/10012793565
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Consumer cash usage : a cross-country comparison with payment diary survey data
Bagnall, John; Bounie, David; Huynh, Kim P.; Kosse, Anneke - 2014
We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the United States). Our paper finds cross-country differences -...
Persistent link: https://www.econbiz.de/10010360396
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Payment habits during COVID-19 : evidence from high-frequency transaction data
Dahlhaus, Tatjana; Welte, Angelika - 2021 - Last updated: September 9, 2021
We investigate how the COVID-19 pandemic has changed consumers' payments habits in Canada. We rely on high …-value cash withdrawals compared with the value of card payments, which could reflect a reduced use of cash for point … payment habits are not taken into account. We estimate that debit card payments might have overstated consumer expenditure …
Persistent link: https://www.econbiz.de/10012616934
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Safe payments
Chiu, Jonathan; Davoodalhosseini, Seyed Mohammadreza; … - 2020 - Last updated: December 10, 2020
We use a simple model to study whether private payment systems based on bank deposits can provide the optimal level of safety. In the model, bank deposits backed by projects are subject to default risk that can be mitigated by a depositor's ex ante and ex post monitoring. Safe payment...
Persistent link: https://www.econbiz.de/10012388751
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Monetary policy implementation and payment system modernization
Witmer, Jonathan - 2020 - Last updated: June 30, 2020
24/7 payment settlement may impact the demand for central bank reserves and thus could have an effect on monetary policy implementation. Using the standard workhorse model of monetary policy implementation (Poole, 1968), we show that 24/7 payment settlement induces a precautionary demand for...
Persistent link: https://www.econbiz.de/10012243377
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Should the central bank issue e-money?
Kahn, Charles M.; Rivadeneyra, Francisco; Wong, Tsz-Nga - 2018
Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves. The...
Persistent link: https://www.econbiz.de/10011944863
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Demand for payment services and consumer welfare : the introduction of a central bank digital currency
Huynh, Kim P.; Molnar, Jozsef; Shcherbakov, Oleksandr; … - 2020 - Last updated: March 12, 2020
In recent years, there have been rapid technological innovations in retail payments. Such dramatic changes in the …
Persistent link: https://www.econbiz.de/10012178031