Jasmina Arifovic

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Adoption of a New Payment Method: Theory and Experimental Evidence

Staff Working Paper 2017-28 Jasmina Arifovic, John Duffy, Janet Hua Jiang
We model the introduction of a new payment method, e.g., e-money, that competes with an existing payment method, e.g., cash. The new payment method involves relatively lower per-transaction costs for both buyers and sellers, but sellers must pay a fixed fee to accept the new payment method.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Central bank research, Digital Currencies JEL Code(s): C, C3, C35, C8, C83, C9, C92, E, E4, E41

Do Sunspots Matter? Evidence from an Experimental Study of Bank Runs

Staff Working Paper 2014-12 Jasmina Arifovic, Janet Hua Jiang
A "sunspot" is a variable that has no direct impact on the economy’s fundamental condition, such as preferences, endowments or technologies, but may nonetheless affect economic outcomes through the expectations channel as a coordination device. This paper investigates how people react to sunspots in the context of a bank-run game in a controlled laboratory environment.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial markets, Financial stability JEL Code(s): C, C9, C91, C92, D, D8, D80, E, E5, E58, G, G2, G20

Are Sunspots Learnable? An Experimental Investigation in a Simple General-Equilibrium Model

Staff Working Paper 2013-14 Jasmina Arifovic, George Evans, Olena Kostyshyna
We conduct experiments with human subjects in a model with a positive production externality in which productivity is a non-decreasing function of the average level of employment of other firms.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models JEL Code(s): D, D8, D83, G, G2, G20

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