In this study, the interaction between the competition-cooperation nexus and regulation in retail payment systems is analysed by applying the main lessons from the theory of network industries. This is justifiable on the grounds that the payment systems industry inherently has many...

1) The Adoption of the Euro by New Member States: Challenges and Vulnerabilities by Michael C. Bonello 2) The Economics of Offshore Financial Services and the Choice of Tax, Currency, and Exchange-Rate Regimes by George M. von Furstenberg 3) Promoting Integration of European Retail Payment...

In this study, the interaction between the competition-cooperation nexus and regulation in retail payment systems is analysed by applying the main lessons from the theory of network industries. This is justifiable on the grounds that the payment systems industry inherently has many...

Using a spatial competition model of retail payment networks, this paper discusses the likely economic consequences associated with the formation of the Single Euro Payments Area (SEPA). The model considers an expansion of positive network externalities on the demand side and adjustment cost on...

This paper considers effects of price regulation in retail payment systems by applying the model of tele-communications competition by Laffont-Rey-Tirole (1998). In our two-country model world there is one retail payment network located in each country and markets are segmented à la Hotelling....

The present retail payments clearing and settlement infrastructure in both the EU and the euro area is still very fragmented. Therefore, it is understandable that, in recent years, a debate on the sluggishness of the integration of the European retail payment systems has emerged. The present...