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Public good aspects of TARGET : natural monopoly, scale economies, and cost allocation

Bolt, Wilko; Humphrey, David B. - 2005

Persistent link: https://www.econbiz.de/10002850265

Eficiencias externa, técnica, interna y de gestión de las entidades financieras

Carbó Valverde, Santiago; Humphrey, David B.; López … - In: Papeles de economía española 101 (2004), pp. 212-220

Persistent link: https://www.econbiz.de/10002458624

Scale economies, bank mergers, and electronic payments : a spline function approach

Humphrey, David B.; Vale, Bent - In: Journal of banking & finance 28 (2004) 7, pp. 1671-1696

Persistent link: https://www.econbiz.de/10002100519

Explaining bank cost efficiency in Europe : environmental and productivity influences

Carbó Valverde, Santiago (contributor); … - 2005

Persistent link: https://www.econbiz.de/10003048384

Public good issues in TARGET : natural monopoly, scale economies, network effects and cost allocation

Bolt, Wilko (contributor); Humphrey, David B. (contributor) - 2005

This paper discusses various theoretic concepts which play a role in assessing the public benefits of Target, the large value RTGS payment network operated by the Eurosystem. These concepts touch upon natural monopoly, network externalities, competition and contestability, as well as economies...

Persistent link: https://www.econbiz.de/10003023506

Settlement finality as a public good in large-value payment systems

Pagès, Henri (contributor); Humphrey, David B. (contributor) - 2005

Target is a real time gross settlement (RTGS) large value payment network operated by European central banks that eliminates systemic risk. Euro1 is a privately operated delayed net settlement (DNS) network that reduces substantially systemic risk but does not eliminate it. This difference makes...