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dc.contributor.authorChiu, Jonathanen_US
dc.contributor.authorLai, Alexandraen_US
dc.date.accessioned2011-12-15T12:55:34Z-
dc.date.available2011-12-15T12:55:34Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/53769-
dc.description.abstractPayments systems play a fundamental role in an economy by providing the mechanisms through which payments arising from transactions can be settled. The existing literature on the economics of payments systems is large but loosely organized, in that each model uses a distinct set-up and sometimes a distinct equilibrium concept. As a result, it is not easy to generalize how model features are related to model implications. The authors conduct a non-technical survey of the literature and discuss some of these connections. They organize the literature according to three general classes of modelling approaches, and compare those approaches in terms of their strengths and weaknesses. They also describe the policy implications across the three model classes and relate them to the model environment/assumptions. The authors summarize what can be learned from the literature with respect to policy issues and identify areas for future research.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2007,28en_US
dc.subject.jelE42en_US
dc.subject.jelE58en_US
dc.subject.jelG21en_US
dc.subject.ddc330en_US
dc.subject.keywordPayment, clearing, and settlement systemsen_US
dc.subject.stwZahlungsverkehren_US
dc.subject.stwVerrechnungsverkehren_US
dc.subject.stwGeldmarkten_US
dc.subject.stwWirtschaftsmodellen_US
dc.titleModelling payments systems: A review of the literatureen_US
dc.typeWorking Paperen_US
dc.identifier.ppn529368048en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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