Risk externalities in a payments oligopoly
I discuss the role to be played by central banks in payment systems by way of an oligopoly model of a payments market where firms exert negative risk externalities upon each other. A central bank participating actively in this market is modelled as benign in two ways: exerting less externalities tha...
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| Format: | article |
| Language: | eng |
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2018
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| Online Access: | http://hdl.handle.net/10400.5/15670 |
| Country: | Portugal |
| Oai: | oai:www.repository.utl.pt:10400.5/15670 |