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We study how the introduction of a central bank-issued digital currency affects interest rates, the level of economic activity, and welfare in an environment where both central bank money and private bank deposits are used in exchange. Banks in our model are financially constrained, and the...
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The recent increase in the use of a digital payment system is an interesting prospect in predicting macroeconomic activity. A digital payment system comprising credit cards, debit cards, automated teller machines (ATMs), and mobile banking represents a broad spectrum of spending activity. The...
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In 2009, Tajikistan became one of the first countries in Central Asia to implement electronic payments to pensioners …
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In many countries, payment services in banking have shifted from paper-based giro and check payments to electronic giro … and debit card payments. This paper analyses the effect of this change in payment technology within a multiple …
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to drastically reduce costs for very small electronic payments and solutions have already started to be identified. In … this paper, the proposed solution implies aggregating payments into a privately owned local area network that operates at …
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Pricing should speed up the substitution of low cost electronic payments for expensive paper-based transactions and … payments while the Netherlands has experienced the same shift without direct pricing. Controlling for differences between … countries, we estimate the incremental effect of pricing on the shift to electronic payments. If users strongly value the …
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