Search Results
Journal Article
Are new forms of retail payments really new?
Conference Paper
Where to go from here?
Journal Article
Network externalities: the catch-22 of retail payments innovations
An investigation of one of the reasons why electronic payments have not yet supplanted cash and checks in retail transactions: Consumers willingness to use an innovation depends on the number of merchants who have already adopted it, and merchants willingness to invest in the innovation depends on the number of consumers who are already using it.
Journal Article
Bank notes and stored-value cards: stepping lightly into the past
Like the bank notes that circulated in this country from 1863 to 1913, stored-value cards substitute the liabilities of private banks for government and central-bank liabilities. This shift may have important implications for the federal budget, the money supply, and monetary policy.
Conference Paper
The law's role in payments
Working Paper
Money in the twenty-first century.
What implications do 21st century monetary innovations bring for holdings of central bank money and standards of value? Emerging technologies such as cybercash, e-cash, and smart cards can be expected to reduce demand for central bank money, but the theoretical framework for monetary policy has not changed. The authors stress three points in this paper: 1) money innovations tend to reduce the demand for central bank money, but it remains to be seen whether the predictability of that demand, and thus the reliability of monetary policy, will decline in the coming century; 2) in principle, ...
Conference Paper
Workshop overview
Journal Article
Will that be cash, check, charge or smart card?