Aiyagari, S.R. ; Wallace, N. Government transaction policy, the medium of exchange, and welfare. 1997 J. Econ. Theory. 74 1-18
Aiyagari, S.R. ; Williamson, S.D. Money and dynamic credit arrangements with private information. 2000 J. Econ. Theory. 91 248-279
- Almeida, H. ; Campello, M. ; Weisbach, M.S. . 2004 J. Finance. 59 1777-1804
Paper not yet in RePEc: Add citation now
Amromin, G. ; Jankowski, C. ; Porter, R.D. Transforming payment choices by doubling fees on the Illinois tollway. 2007 Fed. Reserve Bank Chicago Econ. Perspect.. 31 22-47
Andolfatto, D., Nosal, E., 2003. A theory of money and banking. Working Paper, Fed. Reserve Bank Cleveland
Angelini, P. An analysis of competitive externalities in gross settlement systems. 1998 J. Banking Finance. 22 1-18
Angelini, P. Are banks risk averse? Intraday timing of operations in the interbank market. 2000 J. Money, Credit, Banking. 32 54-73
Araujo, L. Social norms and money. 2004 J. Monet. Econ.. 51 241-256
Armantier, O. ; Arnold, J.B. ; McAndrews, J.J. Changes in the timing distribution of Fedwire funds transfers. 2008 Fed. Res. Bank New York Econ. Pol. Rev.. 14 83-112
Ashcraft, A.B. ; Duffie, D. Systemic illiquidity in the federal funds market. 2007 Amer. Econ. Rev.. 97 221-225
Baer, H. ; France, V.G. ; Moser, J.T. Opportunity cost and prudentiality: An analysis of collateral decisions in bilateral and multilateral settings. 2004 Res. Finance. 21 201-227
- Bank of England, 2002. Access to settlement accounts. Accessed online at http://www.bankofengland.co.uk/financialstability/paymentsettlementsystems/pdf/boesettleaccs021128.pdf
Paper not yet in RePEc: Add citation now
- Baxter, W.F. Bank exchange of transactional paper: Legal and economic perspectives. 1983 J. Law Econ.. 26 541-588
Paper not yet in RePEc: Add citation now
Bech, M.L. ; Garratt, R. The intraday liquidity management game. 2003 J. Econ. Theory. 109 198-219
Berentsen, A. ; Camera, G. ; Waller, C. Money, credit and banking. 2007 J. Econ. Theory. 135 171-195
- Bhattacharya, J., Haslag, J.H., Martin, A., 2007. Why are overnight rates higher than intraday rates? Mimeo, Fed. Reserve Bank New York
Paper not yet in RePEc: Add citation now
Bliss, R. Bankruptcy law and large complex financial organizations: A primer. 2003 Fed. Reserve Bank Chicago Econ. Perspect.. 27 48-58
Bolt, W., Humphrey, D., Uittenbogaard, R., 2005. The effect of transaction pricing on the adoption of electronic payments: A cross-country comparison. Working paper, Fed. Reserve Bank Philadelphia
Borzekowski, R., Kiser, E.K., 2006. The choice at the checkout: Quantifying demand across payment instruments. Finance and Economics Discussion Paper, Board of Governors of the Fed. Reserve System
Borzekowski, R., Kiser, E.K., Ahmed, S., 2006. Consumers' use of debit cards: Patterns, preferences and price response. Finance and Economics Discussion Paper, Board of Governors of the Fed. Reserve System
Bullard, J.D. ; Smith, B.D. Intermediaries and payments instruments. 2003 J. Econ. Theory. 109 172-197
Camera, G. Dirty money. 2001 J. Monet. Econ.. 47 377-415
Carow, K.A. ; Staten, M.E. Debit, credit, and cash: Survey evidence on gasoline purchases. 1999 J. Econ. Bus.. 51 409-422
- Cavalcanti, R. ; Wallace, N. A model of private banknote issue. 1999 Rev. Econ. Dynam.. 2 104-136
Paper not yet in RePEc: Add citation now
Chakravorti, S. Theory of credit card networks: A survey of the literature. 2003 Rev. Network Econ.. 2 50-68
- Chapman, J.T.E., 2006. Policy in international payment systems with a timing friction. Paper presented at the Economics of Payments II, Federal Reserve Bank of Atlanta, March
Paper not yet in RePEc: Add citation now
- Committee on Payment and Settlement Systems, 1990. Report of the Committee on Interbank Netting Schemes of the Central Banks of the Group of Ten Countries. Bank for International Settlements, Basel
Paper not yet in RePEc: Add citation now
- Committee on Payment and Settlement Systems, 1996. Settlement Risk in Foreign Exchange Transactions, Bank for International Settlements, Basel
Paper not yet in RePEc: Add citation now
Corbae, D. ; Ritter, J. Decentralized credit and monetary exchange without public record keeping. 2004 Econ. Theory. 24 933-951
Corbae, D. ; Temzelides, T. ; Wright, R. Directed matching and monetary exchange. 2003 Econometrica. 71 731-756
Diamond, D. ; Dybvig, P. Bank runs, deposit insurance, and liquidity. 1983 J. Polit. Economy. 91 401-419
Diamond, P. Pairwise credit in search equilibrium. 1990 Quart. J. Econ.. 105 285-319
- European Central Bank, 2006. Issues Related to Central Counterparty Clearing, Joint Conference, Frankfurt am Main, 03–04 April 2006. Proceedings available at http://www.ecb.int/events/conferences/html/ccp.en.html
Paper not yet in RePEc: Add citation now
- Evans, D.S. ; Schmalensee, R. Paying with Plastic: The Digital Revolution in Buying and Borrowing. 1999 MIT Press: Cambridge, MA
Paper not yet in RePEc: Add citation now
Evans, D.S., Schmalensee, R., 2005. The economics of interchange fees and their regulation: An overview. Paper delivered at Interchange Fees in Credit and Debit Card Industries: What role for Public Authorities? Federal Reserve Bank of Kansas City, May
Fratianni, M., Spinelli, F., 2006. Did Genoa and Venice kick a financial revolution in the quattrocento? Working Paper, Oesterreichische Nationalbank
Freeman, S. Rediscounting under aggregate risk. 1999 J. Monet. Econ.. 43 197-216
Freeman, S. The payments system, liquidity, and rediscounting. 1996 Amer. Econ. Rev.. 86 1126-1138
- Freeman, S., Hernandez-Verme, P., 2004. Default and fragility in the payments system. Paper presented at the Economics of Payments, Federal Reserve Bank of Atlanta, March
Paper not yet in RePEc: Add citation now
Freixas, X. ; Parigi, B.M. Contagion and efficiency in gross and net interbank payment systems. 1998 J. Finan. Intermediation. 7 3-31
Freixas, X. ; Parigi, B.M. ; Rochet, J.C. Systemic risk, interbank relations, and liquidity provision by the central bank. 2000 J. Money, Credit, Banking. 32 611-638
- Friedman, M. The Optimum Quantity of Money. 1969 Aldine: Chicago
Paper not yet in RePEc: Add citation now
Fujiki, H. Institutions of foreign exchange settlement in a two-country model. 2006 J. Money, Credit, Banking. 38 697-719
Fujiki, H. ; Green, E.J. ; Yamazaki, A. Incentive efficient risk sharing in a settlement mechanism. 2008 J. Econ. Theory. 142 178-195
Furfine, C.H. Interbank payments and the daily federal funds rate. 2000 J. Monet. Econ.. 46 535-553
Furfine, C.H. The costs and benefits of moral suasion: Evidence from the rescue of long-term capital management. 2006 J. Bus.. 79 593-622
- Fusaro, M.A., 2006. Debit vs. credit: A rational model of self-control with evidence from checking accounts. Mimeo, East Carolina University
Paper not yet in RePEc: Add citation now
Galos, P., Soramäki, K., 2005. Systemic risk in alternative payment system designs. Working Paper, European Central Bank
Garcia-Swartz, D.D. ; Hahn, R.W. ; Layne-Farrar, A. The move toward a cashless society: A closer look at payment instrument economics. 2006 Rev. Network Econ.. 5 175-198
Garcia-Swartz, D.D. ; Hahn, R.W. ; Layne-Farrar, A. The move toward a cashless society: Calculating the costs and the benefits. 2006 Rev. Network Econ.. 5 199-228
Gerdes, G. ; Walton, J.K. ; Liu, M.X. ; Parke, D.W. Trends in the use of payment instruments in the United States. 2005 Fed. Reserve Bull.. 91 180-201
Green, E.J. Money and debt in the structure of payments. 1997 Bank Japan Monet. Econ. Stud.. 15 63-87
Green, E.J. Panel: Thoughts on the future of payments and central banking: We need to think straight about electronic payments. 1999 J. Money, Credit, Banking. 31 668-670
- Green, E.J. ; Todd, R.M. Some thoughts on the Fed's role in the payments system. 2001 Fed. Reserve Bank Minneapolis Quart. Rev.. 25 12-27
Paper not yet in RePEc: Add citation now
- Green, E.J., 2004. Challenges for research in payments. In: Invited Lecture at the Economics of Payments Federal Reserve Bank of Atlanta, March
Paper not yet in RePEc: Add citation now
Hayashi, F. ; Klee, E. Technology adoption and consumer payments: Evidence from consumer data. 2003 Rev. Network Econ.. 2 175-190
He, P. ; Huang, L. ; Wright, R. Money and banking in search equilibrium. 2005 Int. Econ. Rev.. 46 637-670
Holmström, B. ; Tirole, J. Public and private supply of liquidity. 1998 J. Polit. Economy. 106 1-40
Holthausen, C. ; Tapking, J. Raising rival's cost in the securities settlement industry. 2007 J. Fin. Intermediation. 16 91-116
- Humphrey, D.B. Payment finality and the risk of a settlement failure. 1986 En : Saunders, A. ; White, L.J. Technology and the Regulation of Financial Markets: Securities, Futures, and Banking. Heath: Lexington, MA
Paper not yet in RePEc: Add citation now
Humphrey, D.B. Replacement of cash by cards in U.S. consumer payments. 2004 J. Econ. Bus.. 56 211-225
Humphrey, D.B. ; Pulley, L.B. ; Vesala, J.M. The check's in the mail: Why the United States lags in the adoption of cost-saving electronic payments. 2000 J. Fin. Services Res.. 17 17-39
Humphrey, D.B. ; Willesson, M. ; Lindblom, T. ; Bergendahl, G. What does it cost to make a payment?. 2003 Rev. Network Econ.. 2 159-174
Hunt, R.M. An introduction to the economics of payment card networks. 2003 Rev. Network Econ.. 2 80-96
- Intraday Liquidity Management Task Force, 2000. Intraday liquidity management in the evolving payment system: A study of the impact of the Euro, CLS bank, and CHIPS finality. Payments Risk Committee, New York
Paper not yet in RePEc: Add citation now
Jackson, J.P., Manning, M.J., 2007. Comparing the pre-settlement risk implications of alternative clearing arrangements. Working paper, Bank of England
Jin, Y. ; Temzelides, T. On the local interaction of money and credit. 2004 Rev. Econ. Dynam.. 7 143-156
Johnson, K. ; McAndrews, J.J. ; Soramäki, K. Economizing on liquidity with deferred settlement mechanisms. 2004 Fed. Reserve Bank New York Econ. Pol. Rev.. 10 51-72
Jonker, N., 2005. Payment instruments as perceived by consumers—A public survey. Working paper, De Nederlandsche Bank
Judson, R., Porter, R., 2003. Estimating the worldwide volume of U.S. counterfeit currency: Data and extrapolation. Finance and Economics Discussion Paper, Board of Governors of the Federal Reserve System
Kahn, C.M. ; McAndrews, J.J. ; Roberds, W. Settlement risk under net and gross settlement. 2003 J. Money, Credit, Banking. 47 299-319
Kahn, C.M. ; Roberds, W. Credit and identity theft. 2008 J. Monet. Econ.. 55 251-264
Kahn, C.M. ; Roberds, W. Payment system settlement and bank incentives. 1998 Rev. Fin. Stud.. 11 845-870
Kahn, C.M. ; Roberds, W. Real-time gross settlement and the costs of immediacy. 2001 J. Monet. Econ.. 47 299-319
Kahn, C.M. ; Roberds, W. The CLS bank: A solution to the problem of international payments settlement?. 2001 Carnegie-Rochester Conf. Ser. Public Pol.. 54 191-226
Kahn, C.M. ; Roberds, W. Transferability, finality, and debt settlement. 2007 J. Monet. Econ.. 54 955-978
- Kahn, C.M., 2006. Payment cards—Economy wide benefits: The pattern of developments in payments provision. Working paper, The University of Illinois
Paper not yet in RePEc: Add citation now
Kahn, C.M., Roberds, W., 2003. Payments settlement under limited enforcement: Public versus private systems. Working paper, Federal Reserve Bank of Atlanta
- Kahn, C.M., Santos, J.A.C., 2006. Endogenous financial fragility and prudential regulation. Mimeo, Federal Reserve Bank of New York
Paper not yet in RePEc: Add citation now
- Kamhi, N., 2006. LVTS, the overnight market, and monetary policy. Working paper, Bank of Canada
Paper not yet in RePEc: Add citation now
- Kashyap, A. ; Rajan, R. ; Stein, J. Banks as liquidity providers: An explanation of the co-existence of lending and deposit-taking. 2002 J. Finance. 57 33-73
Paper not yet in RePEc: Add citation now
Kennickell, A.B., Kwast, M., 1997. Who uses electronic banking? Finance and Economics Discussion Paper, Board of Governors of the Federal Reserve System
Kim, C.S. ; Mauer, D.C. ; Sherman, A.E. The determinants of corporate liquidity: Theory and evidence. 1998 J. Finan. Quant. Anal.. 33 305-334
Kiyotaki, N. ; Wright, R. On money as a medium of exchange. 1989 J. Polit. Economy. 97 927-954
- Kiyotaki, N., Moore, J., 1997. Credit chains. Mimeo, London School of Economics
Paper not yet in RePEc: Add citation now
- Kiyotaki, N., Moore, J., 2000. Inside money and liquidity. Mimeo, London School of Economics
Paper not yet in RePEc: Add citation now
- Klee, E., 2004. How people pay? Evidence from grocery store data. Mimeo, Board of Governors of the Fed. Reserve System
Paper not yet in RePEc: Add citation now
Klee, E., 2006a. Families' use of payment instruments during a decade of change in the U.S. payment system. Finance and Economics Discussion Paper, Board of Governors of the Fed. Reserve System
- Klee, E., 2006b. Paper or plastic? The effect of time on check and debit card use at grocery stores. Finance and Economics Discussion Paper, Board of Governors of the Fed. Reserve System
Paper not yet in RePEc: Add citation now
Klee, E., 2007. Operational problems and aggregate uncertainty in the federal funds market. Finance and Economics Discussion Paper, Board of Governors of the Fed. Reserve System
Kobayakawa, S., 1997. The comparative analysis of settlement systems. Centre for Economic Policy Research Discussion Paper
Kocherlakota, N.R. Money is memory. 1998 J. Econ. Theory. 81 232-251
Kocherlakota, N.R. Risky collateral and deposit insurance. 2001 Adv. Macroeconom.. 1 -
Kocherlakota, N.R. ; Wallace, N. Incomplete record-keeping and optimal payment arrangements. 1998 J. Econ. Theory. 81 272-289
- Koeppl, T.V., Monnet, C., 2006. Central counterparties. Paper presented at Joint Conference of the ECB and the FRBC on the role of Central Counterparties, European Central Bank, April
Paper not yet in RePEc: Add citation now
- Kohn, M., 1999. Early deposit banking. Working paper, Dartmouth University
Paper not yet in RePEc: Add citation now
Kroszner, R.S. Can the financial markets privately regulate risk? The development of derivatives clearinghouses and recent over-the-counter innovations. 1999 J. Money, Credit, Banking. 31 599-618
Kuttner, K.N. ; McAndrews, J.J. Personal on-line payments. 2001 Fed. Reserve Bank New York Econ. Pol. Rev.. 7 35-50
Lacker, J.M. ; Weinberg, J.A. Optimal contracts under costly state falsification. 1989 J. Polit. Economy. 97 1345-1363
- Lacker, J.M., 2006. Central bank credit in the theory of money and payments. In: Invited Lecture at the Economics of Payments II. Federal Reserve Bank of New York, March
Paper not yet in RePEc: Add citation now
Lagos, R. ; Wright, R. A unified framework for monetary theory and policy analysis. 2005 J. Polit. Economy. 113 463-484
- Lester, B., Millard, S., Willison, M., 2006. Optimal settlement rules for payment systems. Paper presented at the Economics of Payments, Federal Reserve Bank of New York, March
Paper not yet in RePEc: Add citation now
Li, Y. A search model of money and private debt with applications to monetary policy. 2001 Int. Econ. Rev.. 42 925-946
- Loix, E., Pepermans, R., Van Hove, L., 2005. Who's afraid of the cashless society? Belgian survey evidence. Paper presented at Consumer Behavior and Payment Choice, Fed. Reserve Bank Boston, October
Paper not yet in RePEc: Add citation now
Lowe, P., 2005. Payments system reform: The Australian experience. Paper delivered at Interchange Fees in Credit and Debit Card Industries: What Role for Public Authorities? Fed. Reserve Bank Kansas City, May
Martin, A. Optimal pricing of intraday liquidity. 2004 J. Monet. Econ.. 51 401-424
Martin, A. ; Orlando, M. ; Skeie, D. Payment networks in a search model of money. 2008 Rev. Econ. Dynam.. 11 104-132
- Martin, A., McAndrews, J.J., 2007. Why are there no intraday money markets? Mimeo, Fed. Reserve Bank New York
Paper not yet in RePEc: Add citation now
McAndrews, J.J. ; Potter, S.M. Liquidity effects of the events of September 11, 2001. 2002 Fed. Reserve Bank New York Econ. Pol. Rev.. 8 59-79
McAndrews, J.J. ; Rajan, S. The timing and funding of Fedwire funds transfers. 2000 Fed. Reserve Bank New York Econ. Pol. Rev.. 6 17-32
- McAndrews, J.J. ; Trundle, J. New payment system design: Causes and consequences. 2001 Bank Engl. Fin. Stability Rev.. 11 127-136
Paper not yet in RePEc: Add citation now
- Mester, L.J. Changes in the use of electronic means of payment: 1995–2004. 2006 Fed. Reserve Bank Philadelphia Bus. Rev.. 0 26-30
Paper not yet in RePEc: Add citation now
- Millard, S., Speight, G., Willison, M., 2006. Why do central banks observe a distinction between intraday and overnight rates? Mimeo, Bank of England
Paper not yet in RePEc: Add citation now
Mills, D.C. Alternative central bank policies for liquidity provision in a model of payments. 2006 J. Monet. Econ.. 53 1593-1611
Mills, D.C. Mechanism design and the role of enforcement in Freeman's model of payments. 2004 Rev. Econ. Dynam.. 7 219-236
Milne, A.K.L. The industrial organization of post-trade settlement. 2007 J. Banking Finance. 31 2945-2961
Moser, J.T., 1998. Contracting innovations and the evolution of clearing and settlement methods at futures exchanges. Working paper, Federal Reserve Bank of Chicago
Nosal, E., Rocheteau, G., 2006. The economics of payments. Policy discussion paper, Federal Reserve Bank of Cleveland
Opler, T. ; Pinkowitz, L. ; Stulz, R.H. ; Williamson, R. The determinants and implications of corporate cash holdings. 1999 J. Finan. Econ.. 52 3-46
Ostroy, J.M. ; Starr, R.M. Money and the decentralization of exchange. 1974 Econometrica. 42 1093-1113
Quinn, S., Roberds, W., 2006. An economic explanation of the early Bank of Amsterdam, debasement, bills of exchange and the emergence of the first central bank. Working paper, Fed. Reserve Bank Atlanta
Rochet, J.-C. ; Tirole, J. Externalities and regulation in card payment systems. 2006 Rev. Network Econ.. 5 1-14
Rochet, J.-C. ; Tirole, J. Interbank lending and systemic risk. 1996 J. Money, Credit, Banking. 28 733-762
- Rochet, J.-C. ; Tirole, J. Some economics of payment card associations. 2002 RAND J. Econ.. 33 549-570
Paper not yet in RePEc: Add citation now
- Rochet, J.-C., Tirole, J., 2004. Two-sided markets: An overview. IDEI working paper, University of Toulouse
Paper not yet in RePEc: Add citation now
- Rochet, J.-C., Tirole, J., 2006b. Tying in two-sided markets and the honor all cards rule. Mimeo, IDEI, University of Toulouse
Paper not yet in RePEc: Add citation now
- Rysman, M. An empirical model of payment card usage. 2007 J. Ind. Econ.. 55 1-36
Paper not yet in RePEc: Add citation now
Samuelson, P.A. An exact consumption-loan model of interest with or without the contrivance of money. 1958 J. Polit. Economy. 66 467-482
Shi, S. Credit and money in a search model with divisible commodities. 1996 Rev. Econ. Stud.. 63 627-652
- Speight, G., Norman, B., Shaw, R., 2006. The evolution of payment arrangements and central banks. Mimeo, Bank of England
Paper not yet in RePEc: Add citation now
Starr, R.M. The price of money in a pure exchange monetary economy with taxation. 1974 Econometrica. 42 45-54
- Stavins, J. Effect of consumer characteristics on payment instruments. 2001 Fed. Reserve Bank Boston New England Econ. Rev.. 19-31
Paper not yet in RePEc: Add citation now
Taub, B. Currency and credit are equivalent mechanisms. 1994 Int. Econ. Rev.. 35 921-956
Telyukova, I.A. ; Wright, R. A model of money and credit, with application to the credit card puzzle. 2008 Rev. Econ. Stud.. 75 629-647
Temzelides, T. ; Williamson, S.D. Payments system design in deterministic and private information environments. 2001 J. Econ. Theory. 99 297-326
Temzelides, T. ; Yu, J. Lack-of-recall and centralized monetary trade. 2004 Int. Econ. Rev.. 45 1221-1227
Townsend, R.M. Economic organization with limited communication. 1987 Amer. Econ. Rev.. 77 954-971
- Townsend, R.M. Models of money with spatially separated agents. 1980 En : Karaken, J.H. ; Wallace, N. Models of Monetary Economies. Federal Reserve Bank of Minneapolis Press: Minneapolis
Paper not yet in RePEc: Add citation now
- Varian, H.R., 1998. Markets for information goods. Mimeo
Paper not yet in RePEc: Add citation now
Velde, F. ; Weber, W. A model of bimetallism. 2000 J. Polit. Economy. 108 1210-1234
- Williamson, O.E. The Economic Institutions of Capitalism. 1985 The Free Press: New York
Paper not yet in RePEc: Add citation now
Williamson, S.D. Payments systems and monetary policy. 2003 J. Monet. Econ.. 50 475-495
Williamson, S.D. Private money. 1999 J. Money, Credit, Banking. 31 469-491
Willison, M., 2005. Real-time gross settlement and hybrid payment systems: A comparison. Working paper, Bank of England
Wright, J. Optimal card payment systems. 2003 Europ. Econ. Rev.. 47 587-612
- Wright, R. Search-and-matching models of monetary exchange. 2008 En : Durlauf, S.N. ; Blume, L.E. The New Palgrave Dictionary of Economics. Palgrave MacMillan:
Paper not yet in RePEc: Add citation now
Zhou, R. Understanding intraday credit in large-value payment. 2000 Fed. Reserve Bank Chicago Econ. Perspect.. 24 29-44
- Zinman, J., 2006. Debit or credit? Mimeo, Dartmouth College
Paper not yet in RePEc: Add citation now