This paper builds a model with imperfect competition in the banking sector. In the model, banks issue deposits and make loans, and deposits can be used as payment instruments by households. We use the model to assess the general equilibrium effects of introducing a central bank digital currency...

We describe the development of the market for mobile payments in Denmark. In the first step, we explain the two main competing products as well as their underlying technologies. In the second step, we also analyze the competition within the Danish market from debit card companies and the...

Der auf der Geschäftslage und den Geschäftserwartungen der Leasinggesellschaften basierende Investitionsindikator, den das ifo Institut und der Bundesverband Deutscher Leasing-Unternehmen gemeinsam ermitteln, signalisiert für das Jahr 2019 einen Anstieg der Ausrüstungsinvestitionen von...

Privacy is a feature inherent to the use of cash for payments. With steadily increasing market shares of commercial digital payments platforms, privacy in payments may no longer be attainable in the future. In this paper, we explore the potential welfare impact of reductions in privacy in...

Title page -- Table of Contents -- Copyright -- Dedication -- List of Contributors -- Preface -- Background -- Purpose -- Themes -- Acknowledgment by David LEE Kuo Chuen -- Acknowledgment by Robert Deng -- Chapter 1: The Game of Dian Fu: The Rise of Chinese Finance -- Abstract -- Acknowledgments...