BORIS Theses

BORIS Theses
Bern Open Repository and Information System

On the Contribution of Payments and Clearing to Financial Inclusion and Stability: Three Essays

Oleschak, Robert (2020). On the Contribution of Payments and Clearing to Financial Inclusion and Stability: Three Essays. (Thesis). Universität Bern, Bern

20oleschak_r.pdf - Thesis
Available under License Creative Commons: Attribution-Noncommercial-No Derivative Works (CC-BY-NC-ND 4.0).

Download (1MB) | Preview


This thesis models frictions that occur in payments and clearing activities and analyzes how payments and clearing arrangements, technologies, and regulatory policies reduce or eliminate such frictions and thus contribute to financial inclusion and financial stability. The first paper is a theoretical and empirical investigation into the trade-offs between financial inclusion, tax revenues, and the rate of inflation and how this trade-off changes with technologies providing cheaper access to payment services. The second paper theoretically analyses the incentives of a central counterparty and their surviving clearing agents during an auction of the positions of a defaulted clearing agent. The third paper studies how bilateral and central clearing arrangements deal with the moral hazard problem in markets where agents are inclined to promise excessively high contingent future payments in relation to their capital and then subsequently default.

Item Type: Thesis
Dissertation Type: Cumulative
Date of Defense: 20 August 2020
Subjects: 300 Social sciences, sociology & anthropology > 330 Economics
Institute / Center: 03 Faculty of Business, Economics and Social Sciences > Department of Economics > Institute of Economics
Depositing User: Hammer Igor
Date Deposited: 10 Mar 2021 09:54
Last Modified: 20 Aug 2021 00:30

Actions (login required)

View Item View Item