Economics of Payments X

Opening of the conference

Governor Olli Rehn, Bank of Finland (speech)

Session 1 - Retail and Cash

Chair: James McAndrews (TNB, Wharton Financial Institutions Center)

Consumer Surplus of Alternative Payment Methods: Paying Uber with Cash (paper) (presentation)

David Argente (Pennsylvania State University) and Fernando Alvarez (University of Chicago)

Cash and Crises: No surprises by the virus (paper) (presentation)

Franz Seitz (Weiden Technical University of Applied Sciences) and Gerhard Rösl (Technical University of Applied Sciences Regensburg)

Distributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United States (paper) (presentation)

Angelika Welte (Bank of Canada), Marie-Hélène Felt (Bank of Canada), Fumiko Hayashi (Federal Reserve Bank of Kansas City) and Joanna Stavins (Federal Reserve Bank of Boston)

Interchange Fee Regulation and Card Payments: a Cross-Country Analysis (paper) (presentation)

Gabriele Sene (Bank of Italy), Guerino Ardizzi (Bank of Italy) and Diego Scalise (Bank of Italy)

Session 2 – Covid-19 and payment habits

Chair: Oz Shy (Federal Reserve Bank of Atlanta)

The Impact of COVID-19 on Digital Payment Habits of Indian Households (presentation)

Sakshi Awasthy (Reserve Bank of India), Rajas Saroy (RBI), Naveen K. Singh (RBI), Sonali M. Adki (RBI) and Sarat C. Dhal (RBI)

Switching from Cash to Cashless Payments during the COVID-19 Pandemic and Beyond (paper) (presentation)

Michal Polasik (Nicolaus Copernicus University), Radoslaw Kotkowski (Narodowy Bank Polski), Tomasz Piotr Wisniewski (The Open University), Andrea Moro (Cranfield University)

The Convenience of Electronic Payments and Consumer Cash Demand – Causal Evidence from the Staggered Introduction of Contactless Debit Cards (paper) (presentation)

Helmut Stix (Central Bank of Austria), Martin Brown (University of St. Gallen), Nicole Hentschel (University of St. Gallen) and Hannes Mettler (University of St. Gallen)

The adoption of a mobile payment system: the user perspective (paper) (presentation)

Carlos Leon (Banco de la Republica)  

Payment Habits during Covid-19: Evidence from High-frequency Transaction Data (paper) (presentation)

Tatjana Dahlhaus (Bank of Canada) and Angelika Welte (Bank of Canada)

Session 3 – FMI's

Chair: Matti Hellqvist (Bank of Finland)

Intraday Liquidity Around the World (paper) (presentation)

Evangelos Benos (University of Nottingham), Biliana Alexandrova Kabadjova (Bank of Mexico), Anton Badev (Federal Reserve Board), Freddy Cepeda-Lopez (Bank of Colombia), James Chapman (Bank of Canada), Martin Diehl (Bundesbank), Ioana Duca-Radu (ECB), Rodney Garratt (UC Santa Barbara), Ronald Heijmans (DNB), Anneke Kosse (BIS), Antoine Martin (FRBNY),Thomas Nellen (SNB), Thomas Nilsson (BIS), Jan Paulick (Bundesbank), Andrei Pustelnikov (Bank of England), Francisco Rivadeneyra (Bank of Canada) and Sara Testi (ECB)

Instant payments as a new normal - Case study of liquidity impacts for the Finnish market (paper) (presentation)

Kasperi Korpinen (Bank of Finland) and Matti Hellqvist (Bank of Finland)

Money Illiquidity (paper) (presentation)

Vladimir Sokolov (Higher School of Economics), Dmitry Livdan, Haas Berkeley; Norman Schurhoff (University Of Lausanne)

Assessing the Safety of Central Counterparties (paper) (presentation)

Mark Paddrik (Office of Financial Research) and H. Peyton Young (London School of Economic)

Session 4 – Fintech and distributed FMI's

Chair: Antoine Martin (Federal Reserve Bank of New York)

Estimating Policy Functions in Payments Systems Using Reinforcement Learning (paper) (presentation)

Ajit Desai (Bank of Canada), Pablo S. Castro (Google Research, Brain Team), Han Du (Bank of Canada), Rodney Garratt (University of California Santa Barbara), and Francisco Rivadeneyra (Bank of Canada)

Distrust or Speculation? The Socioeconomic Drivers of U.S. Cryptocurrency Investments (paper) (presentation)

David Tercero-Lucas (Autonomous University of Barcelona) and Raphael Auer (BIS)

Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking (paper) (presentation)

Ye Li (The Ohio State University Fisher College of Business) and Simon Mayer (Erasmus University Rotterdam)

Session 5 – CBCD

Chair: Morten Bech (BIS)

Falling Use of Cash and Demand for Retail CBDC (paper) (presentation)

David Humphrey (Florida State University), Tanai Khiaonarong

Demand for Payment Services and Consumer Welfare: The Introduction of a Central Bank Digital Currency (paper) (presentation)

Kim Huynh (Bank of Canada), Joszef Molnar (Bank of Canada), Alex Shcherbakov (Bank of Canada),
Jerr Yu (Bank of Canada)

Session 6 – CBCD

Chair: Aleksi Grym (Bank of Finland)

Best Before? Expiring Central Bank Digital Currency and Loss Recovery (paper) (presentation)

Yu Zhu (Bank of Canada), Charles M. Kahn (UIUC) and Maarten R.C. van Oordt (Bank of Canada)

Digital Currencies and Bank Competition (paper) (presentation)

Marianne Verdier (Universitè Paris II Panthèon-Assas)

Closing

Member of the Board Tuomas Välimäki, Bank of Finland (speech)