The discrete choice to adopt a financial innovation affects a household's exposure to inflation and transactions costs. We model this adoption decision as being subject to an unobserved cost. Estimating the cost requires a dynamic structural model, to which we apply a conditional choice...

Previous researches have found that large numbers of households lack basic financial products. Specifically, the financial exclusion phenomenon has been the subject of increasing interest. The literature shows there are many families that do not have a current bank, a building society account, a...