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CBDC adoption and usage: some insights from field and laboratory experiments

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  • Janet Hua Jiang

Abstract

This note discusses insights from historical launches of new payment methods and related laboratory experiments on the potential adoption and use of a central bank digital currency in the Canadian context.

Suggested Citation

  • Janet Hua Jiang, 2020. "CBDC adoption and usage: some insights from field and laboratory experiments," Staff Analytical Notes 2020-12, Bank of Canada.
    • Handle: RePEc:bca:bocsan:20-12
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    References listed on IDEAS

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    1. Berentsen, Aleksander & Camera, Gabriele & Waller, Christopher, 2007. "Money, credit and banking," Journal of Economic Theory, Elsevier, vol. 135(1), pages 171-195, July.
    2. Tanjim Hossain & Dylan Minor & John Morgan, 2011. "Competing Matchmakers: An Experimental Analysis," Management Science, INFORMS, vol. 57(11), pages 1913-1925, November.
    3. Jean-Charles Rochet & Jean Tirole, 2002. "Cooperation Among Competitors: Some Economics Of Payment Card Associations," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 549-570, Winter.
    4. Kim Huynh & Jozsef Molnar & Oleksandr Shcherbakov & Qinghui Yu, 2020. "Demand for Payment Services and Consumer Welfare: The Introduction of a Central Bank Digital Currency," Staff Working Papers 20-7, Bank of Canada.
    5. Wright, Julian, 2003. "Optimal card payment systems," European Economic Review, Elsevier, vol. 47(4), pages 587-612, August.
    6. Jasmina Arifovic & John Duffy & Janet Hua Jiang, 2017. "Adoption of a New Payment Method: Theory and Experimental Evidence," Staff Working Papers 17-28, Bank of Canada.
    7. Christopher Henry & Kim Huynh & Gradon Nicholls & Mitchell Nicholson, 2019. "2018 Bitcoin Omnibus Survey: Awareness and Usage," Discussion Papers 2019-10, Bank of Canada.
    8. Kim Huynh & Gradon Nicholls & Oleksandr Shcherbakov, 2019. "Explaining the Interplay Between Merchant Acceptance and Consumer Adoption in Two-Sided Markets for Payment Methods," Staff Working Papers 19-32, Bank of Canada.
    9. Ben Fung & Hanna Halaburda, 2016. "Central Bank Digital Currencies: A Framework for Assessing Why and How," Discussion Papers 16-22, Bank of Canada.
    10. Gabriele Camera & Marco Casari & Stefania Bortolotti, 2016. "An Experiment on Retail Payments Systems," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(2-3), pages 363-392, March.
    11. Christopher Henry & Kim Huynh & Angelika Welte, 2018. "2017 Methods-of-Payment Survey Report," Discussion Papers 18-17, Bank of Canada.
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    Cited by:

    1. Henry, Christopher S. & Engert, Walter & Sutton-Lalani, Alexandra & Hernandez, Sebastian & Mcvanel, Darcey & Huynh, Kim P., 2023. "Unmet payment needs and a central bank digital currency," Journal of Digital Banking, Henry Stewart Publications, vol. 8(3), pages 242-255, December.
    2. Youming Liu & Francisco Rivadeneyra & Edona Reshidi & Oleksandr Shcherbakov & André Stenzel, 2024. "Ecosystem Models for a Central Bank Digital Currency: Analysis Framework and Potential Models," Discussion Papers 2024-13, Bank of Canada.
    3. Morales-Resendiz, Raúl & Ponce, Jorge & Picardo, Pablo & Velasco, Andrés & Chen, Bobby & Sanz, León & Guiborg, Gabriela & Segendorff, Björn & Vasquez, José Luis & Arroyo, John & Aguirre, Illich & Hayn, 2021. "Implementing a retail CBDC: Lessons learned and key insights," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(1).
    4. Ngo, Vu Minh & Van Nguyen, Phuc & Nguyen, Huan Huu & Thi Tram, Huong Xuan & Hoang, Long Cuu, 2023. "Governance and monetary policy impacts on public acceptance of CBDC adoption," Research in International Business and Finance, Elsevier, vol. 64(C).
    5. Eun Young Oh & Shuonan Zhang, 2022. "Informal economy and central bank digital currency," Economic Inquiry, Western Economic Association International, vol. 60(4), pages 1520-1539, October.
    6. Borgonovo, Emanuele & Caselli, Stefano & Cillo, Alessandra & Masciandaro, Donato & Rabitti, Giovanni, 2021. "Money, privacy, anonymity: What do experiments tell us?," Journal of Financial Stability, Elsevier, vol. 56(C).
    7. Syngjoo Choi & Bongseob Kim & Young-Sik Kim & Ohik Kwon, 2023. "Central Bank Digital Currency and Privacy: A Randomized Survey Experiment," BIS Working Papers 1147, Bank for International Settlements.

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    More about this item

    Keywords

    Central bank research; Digital currencies and fintech;

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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