Payments and Central Bank Policy

Søren Korsgaard

Research output: Book/ReportPh.D. thesisResearch

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Abstract

This thesis consists of three chapters. The rst, "Paying for Payments", examines the role of interchange fees in payment card networks. The second, "Bank Liquidity and the Interbank Market" (co-authored with Mikael Reimer Jensen), investigates how banks' liquidity holdings at the central bank a ect outcomes in the money market. The third, "Collateralized Lending and Central Bank Collateral Policy", considers the emergence of credit constraints under collateralized lending, and how central banks use collateral policy to mitigate these constraints. While the chapters can be read independently, they share common themes. Each chapter is concerned with payments in one way or another, each is concerned with the e ciency of market outcomes, and, to the extent that there is scope for improving these outcomes, each discusses the appropriate role for policy, in particular central bank policy.
Original languageEnglish
Place of PublicationFrederiksberg
PublisherCopenhagen Business School [Phd]
Number of pages152
ISBN (Print)9788793483026
ISBN (Electronic)9788793483026
Publication statusPublished - 2016
SeriesPhD series
Number19.2016
ISSN0906-6934

Cite this

Korsgaard, S. (2016). Payments and Central Bank Policy. Frederiksberg: Copenhagen Business School [Phd]. PhD series, No. 19.2016