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DTSTART:20241027T030000
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RDATE:20251026T030000
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UID:calendar.135334.field_date.0@www.tse-fr.eu
DTSTAMP:20260911T102526Z
CREATED:20240711T071001Z
DESCRIPTION:Oleksandr Shcherbakov\, “CBDC in the Market for Payments at the
  Point of Sale: Equilibrium Impact and Incumbent Responses”\, Industrial O
 rganization seminar\, TSE\, May 26\, 2025\, 14:15–15:30\, room Auditorium 
 4.\n\nWe investigate the introduction of a central bank digital currency (
 CBDC) into the market for payments. Focusing on the point of sale\, we dev
 elop and estimate a structural model of consumer adoption\, merchant accep
 tance and usage decisions. We counterfactually simulate the introduction o
 f a CBDC\, considering a version with debit-like characteristics and one e
 ncompassing the best of cash and debit\, and characterize outcomes for a r
 ange of potential adoption frictions. We show that\, in the absence of ado
 ption frictions\, CBDC has the potential for material consumer adoption an
 d merchant acceptance\, along with moderate usage at the point of sale. Ho
 wever\, modest adoption frictions substantially reduce outcomes along all 
 three dimensions. Incumbent responses required to restore pre-CBDC market 
 shares are moderate to small and further reduce the market penetration of 
 CBDC. Overall\, this implies that an introduction of CBDC into the market 
 for payments is by no means guaranteed to be successful.
DTSTART;TZID=Europe/Paris:20250526T151500
DTEND;TZID=Europe/Paris:20250526T163000
LAST-MODIFIED:20260723T001001Z
LOCATION:TSE\, May 26\, 2025\, 14:15–15:30\, room Auditorium 4
SUMMARY:Industrial Organization seminar
URL;TYPE=URI:https://www.tse-fr.eu/seminars/2025-cbdc-market-payments-point
 -sale-equilibrium-impact-and-incumbent-responses
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