Similar Search Results

Money and payments: a modern perspective

Holthausen, Cornelia; Monnet, Cyril - 2003

The role of money in society has been a controversial topic in economic theory over many years. Particular attention … has been devoted to the analysis whether there should be competition in the supply of money, or whether this is best left … today we have competition between issuers of money, namely in the international context, with electronic money, and in large …

Persistent link: https://www.econbiz.de/10011604291

The microstructure of the euro money market

Hartmann, Philipp; Manna, Michele; Manzanares, Andrés - 2001

This paper provides the first empirical examination of the microstructure of the euro money market, using tick data …

Persistent link: https://www.econbiz.de/10011604126

Efficient pricing of large value interbank payment systems

Holthausen, Cornelia; Rochet, Jean-Charles - 2002

This paper studies the efficient pricing of large-value payment systems in the presence of unobservable heterogeneity about banks' future payment volumes. It is shown that the optimal pricing scheme for a public monopoly system involves quantity discounts in the form of a decreasing marginal...

Persistent link: https://www.econbiz.de/10011604230

Explaining cross-border large-value payment flows: evidence from TARGET and EURO 1 data

Rosati, Simonetta; Secola, Stefania - 2005

liquidity conditions and to the turnover of the euro area money market, (particularly the unsecured overnight segment). Our …

Persistent link: https://www.econbiz.de/10011604489

Systemic risk in alternative payment system designs

Galos, Peter; Soramäki, Kimmo - 2005

The paper analyses the consequences of an isolated, sudden and unexpected failure of a bank in alternative interbank payment system designs. We assess the exposures and the contagion by a counterfactual analysis assuming that payments currently settled by the pan-European large-value payment...

Persistent link: https://www.econbiz.de/10011604554

Consumer cash usage: a cross-country comparison with payment diary survey data

Bagnall, John; Bounie, David; Huynh, Kim P.; Kosse, Anneke - 2014

We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the United States). Our paper finds cross-country differences...

Persistent link: https://www.econbiz.de/10011605730

Stressed interbank markets: evidence from the European financial and sovereign debt crisis

Frutos, Juan Carlos; Garcia-de-Andoain, Carlos; Heider, … - 2016

to the fragmentation of the euro area money market. A triple-difference estimate shows that the borrowing of banks in the …

Persistent link: https://www.econbiz.de/10011605970

Money, credit, monetary policy and the business cycle in the euro area: What has changed since the crisis?

Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019

This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...

Persistent link: https://www.econbiz.de/10012142070

Optimal public money

Monnet, Cyril - 2002

In most countries, the supply of paper money is controlled by a state institution. This paper provides an explanation …

Persistent link: https://www.econbiz.de/10011604205

Bond market inflation expectations and longer-term trends in broad monetary growth and inflation in industrial countries, 1880-2001

Dewald, William G. - 2003

Persistent link: https://www.econbiz.de/10011604299