In this article, we analyse how the accession to an economic and monetary union and the influence of new institutions may shape consumers' payment decisions in newly acceded countries. Our analysis focuses on the 2004 European Union (EU) enlargement process. Results confirm the prediction of...

The purpose of this paper is to analyze the combination of institutional factors and technology advances as determinants of payment systems choice. The theoretical set up suggests that countries entering into a new institutional environment approach accepting group attitudes towards payment...

In this paper we develop a model where agents can acquire goods using cash and two non-cash alternatives. We use it to study the effects of the pricing policy of payment methods implemented in Norway, carried out by individual banks and promoted by the authorities. We show that this policy...

The deregulation of financial services in the European Union and the development of information technology have fostered recent changes in the European banking industry. This process, that has affected market competition, has been accelerated by the establishment of the Economic and Monetary...

We study the relationship between openness and payment system development. In particular, we analyze how the existence of technology diffusion from a more developed country fosters a transformation of payment choice in a less developed country. We apply our analysis to Mexico. Economic growth in...

In this paper we provide a general equilibrium model that helps explaining payment choice at the retail level: cash, electronic and paper-based instruments. In particular, it provides theoretical foundations to reconcile previous empirical evidence on this issue. The payment pattern of a given...

In this paper we present a general equilibrium model on payment choice at retail level. We analyze how the accession to an economic and monetary union, and the influence of new institutions may shape the evolution of consumers’ payments in newly acceded countries. The model suggests that...

We study the relationship between openness and payment system development. In particular, we analyze how the existence of technology diffusion from a more developed country fosters a transformation of payment choice in a less developed country. We apply our analysis to Mexico. Economic growth in...