Kim Huynh

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Adoption Costs of Financial Innovation: Evidence from Italian ATM Cards

Staff Working Paper 2017-8 Kim Huynh, Philipp Schmidt-Dengler, Gregor W. Smith, Angelika Welte

The discrete choice to adopt a financial innovation affects a household’s exposure to inflation and transactions costs. We model this adoption decision as being subject to an unobserved cost.

Content Type(s): Staff Research, Staff Working Papers Topic(s): Bank notes, Econometric and statistical methods, Financial services JEL Code(s): C, C3, C35, D, D1, D14, E, E4, E41

14 May 2015 The Use of Cash in Canada

Bank of Canada Review - Spring 2015 Ben Fung, Kim Huynh, Gerald Stuber

The Bank of Canada’s 2013 Methods-of-Payment Survey indicates that the share of cash in the overall number of retail transactions has continued to decrease, mainly because of increased use of contactless credit cards. The share of cash in the total value of retail transactions was virtually unchanged from 2009 to 2013. In particular, the value share of cash transactions above $50 increased. Automated banking machines (ABMs), still the major source of cash for Canadians, were used less often in 2013 than in 2009. Cash use in Canada is broadly similar to that in Australia and the United States.

Content Type(s): Publications, Bank of Canada Review Article Topic(s): Bank notes, Digital Currencies, Econometric and statistical methods, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): C, C8, C83, E, E4, E42, G, G2, G21, L, L8, L81

2013 Methods-of-Payment Survey Results

Staff Discussion Paper 2015-4 Christopher Henry, Kim Huynh, Rallye Shen

As the sole issuer of bank notes, the Bank of Canada conducts methods-of-payment (MOP) surveys to obtain a detailed and representative snapshot of Canadian payment choices, with a focus on cash usage.

Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Bank notes, Digital Currencies JEL Code(s): E, E4

The Role of Card Acceptance in the Transaction Demand for Money

Staff Working Paper 2014-44 Kim Huynh, Philipp Schmidt-Dengler, Helmut Stix

The use of payment cards, either debit or credit, is becoming more and more widespread in developed economies. Nevertheless, the use of cash remains significant.

Content Type(s): Staff Research, Staff Working Papers Topic(s): Bank notes, Digital Currencies, Econometric and statistical methods, Financial services JEL Code(s): C, C3, C35, C8, C83, E, E4, E41

Retail Payment Innovations and Cash Usage: Accounting for Attrition Using Refreshment Samples

Staff Working Paper 2014-27 Heng Chen, Marie-Hélène Felt, Kim Huynh

We exploit the panel dimension of the Canadian Financial Monitor (CFM) data to estimate the impact of retail payment innovations on cash usage. We estimate a semiparametric panel data model that accounts for unobserved heterogeneity and allows for general forms of non-random attrition.

Content Type(s): Staff Research, Staff Working Papers Topic(s): Bank notes, Digital Currencies, Econometric and statistical methods, Financial services JEL Code(s): C, C3, C35, E, E4, E41

Other

Journal Articles

“Income and Democracy: A Smooth Varying Coefficient Redux“,
(with Alex Lundberg and David Jacho-Chavez), Journal of Applied Econometrics, forthcoming.
"Retail Payment Innovations and Cash Usage: Accounting for Attrition Using Refreshment Samples,"
(with Heng Chen and Marie-Helene Felt) Journal of Royal Statistical Society Series A, vol. 180(2), Pages 503-530, February 2017.
"Mixed Proportional Hazard Models with Continuous Finite Mixture Unobserved Heterogeneity,"
(with Marcel Voia), Applied Stochastic Models in Business and Industry, Volume 33(1), Pages 81-94,
January/February 2017.
"Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data,"
(with John Bagnall, David Bounie, Anneke Kosse, Tobias Schmidt, Scott Schuh and Helmut Stix). International Journal of Central Banking, vol. 12(4), pages 1-61, December 2016.
"Measuring Consumer Cash Holdings: Lessons from the 2013 Bank of Canada Methods-of-Payment Survey,"
(with Heng Chen, Christopher S. Henry, Rallye Shen and Kyle Vincent), Survey Practice, Volume 9 (3), 2016.
"Flexible Estimation of Copulas: An Application to the US Housing Crisis,"
(with Anson Ho and David Jacho-Chavez), Journal of Applied Econometrics, Volume 31(1), April/May 2016, pages 603-610.
"The Evolution of Firm-Level Distributions for Ukrainian Manufacturing Firms,"
(with David Jacho-Chavez, Oleksiy Kryvtsov, Oleksandr Shepotylo, and Volodymyr Vakhitov), Journal of Comparative Economics, Volume 44(1), pages 148-162, 2016.
"Post-Entry Struggle for Life and Pre-Exit Shadow of Death from a Financial Perspective,"
(with Robert Petrunia), International Journal of the Economics of Business, Volume 23(1), February 2016, pages 1-18.
"The Distributional Efficacy of Collaborative Learning on Student Outcomes,"
(with David Jacho-Chavez and James K. Self), The American Economist, Volume 60(2), September 2016, pages 98-119.
"Subjective Health Expectations,"
(with Juergun Jung), Journal of Policy Modeling, Volume 37, Issue 4, July–August 2015, Pages 693-–711.
"Consumer Payment Choice: Merchant Card Acceptance versus Pricing Incentives,"
(with Carlos Arango and Leonard Sabetti), Journal of Banking and Finance, Volume 55, June 2015, Pages 130-141.
"A Nonparametric Analysis of Firm Size, Leverage and Labour Productivity Distribution Dynamics,"
(with David Jacho-Chavez, Robert Petrunia and Marcel Voia), Empirical Economics, Volume 48, Issue 1, pages 337-360. February 2015.
"Retail Payments Innovation and the Demand for Cash in Canada,"
(with Ben S.C. Fung and Leonard Sabetti), Journal of Financial Market Infrastructures, Volume 3, Issue 1, pages 1-29, September 2014.
"crs: A Package For Nonparametric Spline Estimation in R,"
(with Anson T.Y. Ho and David T. Jacho-Chavez) Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 29(2), pages 348-352, 2014.
"Adaptive permutation tests for serial independence,"
(with Ba Chu, Chunfeng Huang, and Lanh Tran), Statistica Neerlandica, Vol. 68(3), pages 183-208, 08, 2014.
“Fitness versus Fatness: Productivity, Financial Conditions, and the Survival of New Canadian Manufacturing Firms,”
(with Robert Petrunia and Marcel Voia). Structural Change and Economic Dynamics, 2012 vol. 23(4), pages 354-362.
“Initial Financial Conditions, Unobserved Heterogeneity, and the Duration of New Firms,”
(with Robert Petrunia and Marcel Voia), Managerial Decision Economics, Volume 33 (2), pages 109–25, March 2012.
“Functional Principal Component Analysis of Density Families with Categorical and Continuous Data on Canadian Entrant Manufacturing Firms,”
(with David T. Jacho-Chavez, Robert Petrunia and Marcel Voia) in Journal of the American Statistical Association, Volume 106 (495), pages 858–878, September 2011.
“npRmpi: A package for Parallel Distributed Kernel Estimation in R,”
(with Ho, Anson and David T. Jacho-Chavez) in Journal of Applied Econometrics, Volume 26 (2), pages 344-349, March 2011.
“Firm Size Distributions Through the Lens of Functional Principal Components Analysis,”
(with David T. Jacho-Chavez) in Journal of Applied Econometrics, Volume 25 (7), pages 1211-1214, November/December 2010.
“The Impact of Initial Financial State on Firm Duration Across Entry Cohorts,”
(with Robert Petrunia and Marcel Voia) in Journal of Industrial Economics, Volume 58 (3), pages 661-689, September 2010.
“The Efficacy of Collaborative Learning Recitation Sessions on Student Outcomes,”
(with David T. Jacho-Chavez and James K. Self) in American Economic Review Papers & Proceedings, vol. 100(2), pages 287-291, May 2010.
“Age Effects, Financial Frictions and Firm Growth,”
(with Robert Petrunia) in Journal of Economic Dynamics and Control, Vol. 34 (5) pp. 1003-1013. May 2010.
“Internally-Corrected Conditional Density Estimation: With An Application to Implied-Volatility,”
(with David T. Jacho–Chavez) in Journal of Quantitative Economics, Vol. 7, no. 2, pp. 20-40. 2009.
“Growth and Governance: A Nonparametric Approach,”
(with David T. Jacho–Chavez) in Journal of Comparative Economics, Vol. 37 (1), p. 121–143, March 2009.
“Entry penetration in Canadian Manufacturing,”
(with Robert Petrunia) in Economics Letters, Vol. 100 (1), Pages 87-90, July 2008.
“Conditional density estimation: an application to the Ecuadorian manufacturing sector,”
(with David T. Jacho–Chavez) in Economics Bulletin Vol. 3 (62), pp. 1-6, 2007.

Chapters in books

“Average derivative estimation with missing responses,”
(with Bravo, Francesco and David T. Jacho- Chavez) in Chapter 5, p. 131–156 of Advances in Econometrics: Missing Data, Volume 27A, 2011, edited by David Drukker. Emerald Group Publishing.
“Nonlinear Difference-in-Difference Treatment Effect Estimation: A Distributional Analysis,”
(with David T. Jacho- Chavez and Marcel Voia) in Chapter 9, p. 251–272 of Advances in Econometrics: Missing Data Volume 27A, 2011, edited by David Drukker. Emerald Group Publishing.
“A Nonparametric Quantile Analysis of Growth and Governance,”
(David T. Jacho- Chavez) in Chapter 6, p. 193–221 of Advances in Econometrics: Nonparametric Econometric Methods, Volume 25, 2009, edited by Jeffrey S. Racine and Qi Li. Emerald Group Publishing.
"Estimating State-Price Densities with Nonparametric Regression"
(with Pierre Kervella and Jun Zheng) in Chapter 8, pages of Applied Quantitative Finance, 2002, edited by Wolfgang Haerdle, Torsten Kleinow, and Gerhard Stahl, Springer-Verlag.

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