G28 - Government Policy and Regulation
-
Wait a Minute: The Efficacy of Discounting versus Non-Pecuniary Payment Steering
Merchants who accept credit cards face payment processing fees. In most countries, the no-surcharge rule prohibits them from using surcharges to pass these fees on to customers. -
A Microfounded Design of Interconnectedness-Based Macroprudential Policy
To address the challenges posed by global systemically important banks (G-SIBs), the Basel Committee on Banking Supervision recommended an “additional loss absorbency requirement” for these institutions. Along these lines, I develop a microfounded design of capital surcharges that target the interconnectedness component of systemic risk.