Two-Sided Market, R and D and Payments System Evolution /

It takes many years for more efficient electronic payments to be widely used, and the fees that merchants (consumers) pay for using those services are increasing (decreasing) over time. We address these puzzles by studying payments system evolution with a dynamic model in a twosided market setting....

Ausführliche Beschreibung

Bibliographische Detailangaben
1. Verfasser: Li, Bin Grace
Weitere Verfasser: McAndrews, James, Wang, Zhu
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2019.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 2019/057
Online Zugang:Full text available on IMF
LEADER 01769cas a2200265 a 4500
001 AALejournalIMF019095
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781484399620 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Li, Bin Grace. 
245 1 0 |a Two-Sided Market, R and D and Payments System Evolution /  |c Bin Grace Li, James McAndrews, Zhu Wang. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2019. 
300 |a 1 online resource (48 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a It takes many years for more efficient electronic payments to be widely used, and the fees that merchants (consumers) pay for using those services are increasing (decreasing) over time. We address these puzzles by studying payments system evolution with a dynamic model in a twosided market setting. We calibrate the model to the U.S. payment card data, and conduct welfare and policy analysis. Our analysis shows that the market power of electronic payment networks plays important roles in explaining the slow adoption and asymmetric price changes, and the welfare impact of regulations may vary significantly through the endogenous R and D channel. 
538 |a Mode of access: Internet 
700 1 |a McAndrews, James. 
700 1 |a Wang, Zhu. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2019/057 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2019/057/001.2019.issue-057-en.xml  |z IMF e-Library