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Choosing and using payment instruments: evidence from German microdata

Von Kalckreuth, Ulf; Schmidt, Tobias; Stix, Helmut - 2009

Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data on payment behaviour of German consumers, we...

Persistent link: https://www.econbiz.de/10011605190

The digital economy, privacy, and CBDC

Ahnert, Toni; Hoffmann, Peter; Monnet, Cyril - 2022

We study a model of financial intermediation, payment choice, and privacy in the digital economy. Cash preserves anonymity but cannot be used for more efficient online transactions. By contrast, bank deposits can be used online but do not preserve anonymity. Banks use the information contained...

Persistent link: https://www.econbiz.de/10013367992

Consumer payment preferences in the euro area

Kajdi, László - 2022

Payments are a key focus of central banks, as - together with the safe, efficient operation of the payments market … approaches to investigate consumer payments choices, and the results from most models showed that those with higher level of … transactions tend to keep less cash in their wallet, while those who indicated preference for cash payments or higher importance of …

Persistent link: https://www.econbiz.de/10014278546

The economics of central bank digital currency

Ahnert, Toni; Assenmacher-Wesche, Katrin; Hoffmann, Peter; … - 2022

This paper provides a structured overview of the burgeoning literature on the economics of CBDC. We document the economic forces that shape the rise of digital money and review motives for the issuance of CBDC. We then study the implications for the financial system and discuss of a number of...

Persistent link: https://www.econbiz.de/10014278554

Transactional demand for central bank digital currency

Nocciola, Luca; Zamora-Pérez, Alejandro - 2024

We shed light on the demand for a central bank digital currency (CBDC) as a means of payment, based on survey payment data. We provide a quantitative framework to assess transactional demand for CBDC at the point of sale, accommodating a wide range of design choices. We develop a structural...

Persistent link: https://www.econbiz.de/10014543681

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

Pagès, Henri; Humphrey, David - 2005

same unit operating costs. This provides an incentive for users to shift payments to the more risky network in normal times …

Persistent link: https://www.econbiz.de/10011604552

A dynamic model of settlement

Koeppl, Thorsten Volker; Monnet, Cyril; Temzelides, Ted - 2006

We investigate the role of settlement in a dynamic model of a payment system where the ability of participants to perform certain welfare-improving transactions is subject to random and unobservable shocks. In the absence of settlement, the full information first-best allocation cannot be...

Persistent link: https://www.econbiz.de/10011604650

Competition in bank-provided payment services

Bolt, Wilko; Humphrey, David - 2013

Banks supply payment services that underpin the smooth operation of the economy. To ensure an efficient payment system, it is important to maintain competition among payment service providers but data available to gauge the degree of competition are quite limited. We propose and implement a...

Persistent link: https://www.econbiz.de/10011605584

Paying for payments: free payments and optimal interchange fees

Korsgaard, Søren - 2014

interchange fees at too high a level, resulting in too few card payments. I derive an optimal interchange fee which depends only … on the relative costs of producing cash and card payments and can be used by regulators to assess privately set …

Persistent link: https://www.econbiz.de/10011605727

Consumer Payment Preferences in the Euro Area

Kajdi, László - 2022

Persistent link: https://www.econbiz.de/10014076632