00000nam 2200000za 4500 9.833273 CaOODSP 20221107150203 cr ||||||||||| 170302s2017 oncd ob f000 0 eng d CaOODSP eng eng fre n-cn--- e-it--- FB3-5/2017-8E-PDF Adoption costs of financial innovation [electronic resource] : evidence from Italian ATM cards / by Kim P. Huynh ... [et al.]. [Ottawa] : Bank of Canada, 2017. ii, 39 p. : charts Bank of Canada staff working paper, 1701-9397 ; 2017-8 "February 2017." Includes bibliographical references (p. 32-33). “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. Estimating the cost requires a dynamic structural model, to which we apply a conditional choice simulation estimator. A novel feature of our method is that preference parameters are estimated separately, from the Euler equations of a shopping time model, to aid statistical efficiency. We apply this method to study ATM card adoption in the Bank of Italy’s Survey of Household Income and Wealth. There, the implicit adoption cost is too large to be consistent with standard models of rational choice, even when sorted by age, cohort, education or region"--Abstract, p. ii. Includes abstract in French. gccst Financial services gccst Innovation gccst Costs Huynh, Kim P., 1974- Bank of Canada. Staff working paper (Bank of Canada) 1701-9397 ; 2017-8 (CaOODSP)9.806221 PDF 4.12 MB https://publications.gc.ca/collections/collection_2017/banque-bank-canada/FB3-5-2017-8-eng.pdf