Tiering occurs when an institution does not participate directly in the central payment system but instead settles its payments through an agent. A high level of tiering can be a significant issue for payment system regulators because of the increased credit and concentration risk. This paper...

Real-time gross settlement (RTGS) systems often incorporate features designed to economise on liquidity. Such 'hybrid features' have the potential to mitigate the systemic impact of operational disruptions of participants. This paper simulates operational disruptions of participants, using data...

This paper examines the relationship between the inventory cycle and the business cycle. It uses both macro-economic data and data from surveys of individual firms’ actual and expected inventory accumulation. It is argued that over the past decade and a half, the amplitude of the inventory...

This paper examines the relationship between the inventory cycle and the business cycle using both macroeconomic and survey data. It is argued that, over the past decade and a half, the changes in inventory management have reduced the amplitude of the inventory cycle. The paper also argues that...

As mobile phones have become commonplace throughout the world there has been an increasing focus on their potential use for making payments. Adoption of mobile payments in developing economies has occurred well ahead of that in advanced economies, reflecting the particularly large benefits these...

Children's environments and their ability to interact with them have impacts upon their well-being and sense of identity. Creation of participatory methodologies for children of all ages and particularly for children under five years of age is a step towards understanding what is necessary to...

In this paper we estimate the effect of particular price incentives on consumer payment patterns using transaction-level data. We find that participation in a loyalty program and access to an interest-free period, both of which lower the price of credit card use, tend to increase credit card use...

In this paper we estimate the effect of particular price incentives on consumer payment patterns using transaction-level data. We find that participation in a loyalty program and access to an interest-free period tend to increase credit card use at the expense of alternative payment methods,...