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Kosten und Nutzen des Bargelds und unbarer Zahlungsinstrumente : der Nutzen von Bargeld ; Modul 2
(2017)
The introduction of cashless wage payments and the spread of branch banking in post-war Germany
(2017)
Struktureller Anpassungsbedarf bei hohen Kapitalimporten und festen Wechselkursen – Der Fall Spanien
(1991)
Towards a Moneyless World?
(1999)
The Pricing of Payments
(2009)
Cash – the familiar stranger
(2008)
Why e-money still fails
(2001)
The Blessing of Cash
(2017)
Was dem EWS geschehen ist
(1992)
Das Currency Board System
(1994)
Endogenes Geld?
(1996)
Internet Payments in Germany
(2008)
E-money regulation in the EU
(2002)
When it comes to multilateral interchange fees (MIFs), the regulatory authorities are demonstrably inconsistent. At the same time as (erroneously)
treating them like conventional cartel prices, they have also mandated an upper ceiling for them —
effectively legitimising the concept. As this paper
demonstrates, classifying MIFs with standard cartel pricing is a categorical error. A capped MIF is simply one ingredient of a well-functioning card payment system. Indeed, without MIFs, payments markets suffer free-rider problems and high
transaction costs. To illustrate how MIFs curtail
the tendency of prices to move upward, the paper examines the German ATM system before 2011.
Finally, the paper argues that the current regulatory
approach may lead to the demise of those European
card schemes that are currently under pressure from
MasterCard and Visa.
Currency Boards
(1999)
New Monetary Economic
(2000)