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Cyber security and ransomware in financial markets

Ahnert, Toni; Brolley, Michael; Cimon, David; Riordan, Ryan - 2022 - Last updated: July 14, 2022

Financial markets face the constant threat of cyber attacks. We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about clients' vulnerability to cyber attacks and about the fees...

Persistent link: https://www.econbiz.de/10013277108

Financial inclusion : what's it worth?

Ampudia, Miguel; Ehrmann, Michael - 2016

The paper studies the determinants of being unbanked in the euro area and the United States as well as the effects of being unbanked on wealth accumulation. Based on household-level data from The Eurosystem Household Finance and Consumption Survey and the U.S. Survey of Consumer Finances, it...

Persistent link: https://www.econbiz.de/10011517024

Are counterparty arrangements in reinsurance a threat to financial stability?

Davison, Matt; Leadbetter, Darrell; Lu, Bin; Voll, Jane - 2016

banking literature to the insurance industry; (ii) assessing the interconnections among reinsurers through potential claims … rather than premiums; and (iii) investigating the most opaque part of the global insurance market, namely, counterparty … in the insurance sector and promote financial stability. …

Persistent link: https://www.econbiz.de/10011521658

Consumer bankruptcy and information

Allen, Jason; Damar, H. Evren; Martinez-Miera, David - 2012

We analyze the relationship between the intensity of banks' use of soft-information and household bankruptcy patterns. Using a unique data set on the universe of Canadian household bankruptcies, we document that bankruptcy rates are higher in markets where the collection of soft, or qualitative...

Persistent link: https://www.econbiz.de/10009565242

Safe payments

Chiu, Jonathan; Davoodalhosseini, Seyed Mohammadreza; … - 2020 - Last updated: December 10, 2020

not fully internalize the externalities of their adoption decision on sellers, or when the provision of deposit insurance … deposit insurance. …

Persistent link: https://www.econbiz.de/10012388751

Dynamic competition in negotiated price markets

Allen, Jason; Li, Shaoteng - 2020 - Last updated: June 4, 2020

This paper develops a framework for investigating dynamic competition in markets where price is negotiated between an individual customer and multiple firms repeatedly. Using contractlevel data for the Canadian mortgage market, we provide evidence of an "invest-then-harvest" pricing pattern:...

Persistent link: https://www.econbiz.de/10012243350

An economic perspective on payments migration

Kosse, Anneke; Lu, Zhentong; Xerri, Gabriel - 2020 - Last updated: June 5, 2020

Canada is in the midst of developing three new core payment systems: Lynx, Settlement Optimization Engine (SOE) and Real-Time Rail (RTR). Lynx and SOE will replace the current Large Value Transfer System (LVTS) and Automated Clearing Settlement System (ACSS), whereas RTR will be a new...

Persistent link: https://www.econbiz.de/10012243367

Predicting payment migration in Canada

Kosse, Anneke; Lu, Zhentong; Xerri, Gabriel - 2020 - Last updated: September 14, 2020

Canada currently has two core payment systems for processing funds transfers between financial institutions: the Large Value Transfer System (LVTS) and the Automated Clearing Settlement System (ACSS). These systems will be replaced over the next years by three new systems: Lynx, the Settlement...

Persistent link: https://www.econbiz.de/10012286398

Distributional effects of payment card pricing and merchant cost pass-through in Canada and the United States

Felt, Marie-Hélène; Hayashi, Fumiko; Stavins, Joanna; … - 2021 - Last updated: February 5, 2021

Using data from Canada and the United States, we quantify consumers' net pecuniary cost of using cash, credit cards, and debit cards for purchases across income cohorts. The net cost includes fees paid to financial institutions, rewards received from credit or debit card issuers, and the...

Persistent link: https://www.econbiz.de/10012426293

Finding a needle in a haystack : a machine learning framework for anomaly detection in payment systems

Desai, Ajit; Kosse, Anneke; Sharples, Jacob - 2024 - Last updated: May 15, 2024

We propose a flexible machine learning (ML) framework for real-time transaction monitoring in high-value payment systems (HVPS), which are a central piece of a country's financial infrastructure. This framework can be used by system operators and overseers to detect anomalous transactions,...

Persistent link: https://www.econbiz.de/10014560400

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