A monetary model is constructed to explore the effects of a new source of inefficiency of
gross settlement with an operational risk on the choice of cash that is risky to hold and a …

This paper captures the trade-offs between alternative payment instruments where each is
associated with costs and benefits. Most models of cash–credit choice assume cash is a …

An interbank payment system facilitates the transfer of funds among banks and finalizes
settlements. To ensure the stability of the payment system a bank generally posts collateral …

Large public and private costs result from attacks on firms' information technology networks.
Successful attacks result in data breaches with private damages from business interruption …

A simple asset market segmentation model is constructed to study the relationship between
inflation and theft when money is the only medium of exchange. In equilibrium, money is …

This paper studies the indirect relation between the demand for money and crime, which
emerges from the defensive actions of companies against criminal clients. A theoretical …

An asset market segmentation model is constructed to explore the distributional effects of
monetary policy on theft and the choice of costly credit and money. Money is risky to hold …

This paper studies the indirect relation between the demand for money and crime, which
emerges from the defensive actions of companies against criminal clients. A theoretical …