Working Paper
Interchange Fees in Payment Networks: Implications for Prices, Profits, and Welfare
WP 25-18 – This paper examines the level of a wholesale price — the interchange fee — typically set by a payment card network that influences the distribution of acceptance costs and benefits incurred or received by merchants and consumers.
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Brief
Do Price Changes Affect Crypto Ownership?
Since January 2022, the Consumer Finance Institute (CFI) has collected information about cryptocurrency ownership from six different surveys; all six asked about current ownership of cryptocurrency, while three also asked about likelihood to purchase crypto in the future.
Article
Q&A with Daniel Sanches on Digital Currency: The Other Side of the Coin
Economist Daniel Sanches has been researching digital currency and the market effects of central bank digital currency on countries currently exploring this possibility. In this Q&A, he shares key research insights and points to our new Digital Currency Center.
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New Moneys in the Digital Era
Economic Insights — Cryptocurrencies may seem like a hot new thing, but the history of money teaches us a lot about what crypto can and can't do.