Extensions to the Basic Framework

Marco Rossi
Additional contact information
Marco Rossi: International Monetary Fund

Chapter 3 in Payment Systems in the Financial Markets, 1998, pp 39-53 from Palgrave Macmillan

Abstract: Abstract In the previous chapter, an analytical framework of an RTGS system in which both the interarrival-time and the processing-time distributions were exponential (birth-death Markovian processes) was presented and discussed. It may be argued that the processing time depends, for instance, on the level of the bank’s settlement reserves, the degree of synchronisation of incoming and outgoing payments, the value distribution of the payment flow and the existence of an intraday fund market. More generally, it will depend on the working of the payment system as a whole, of which the single bank is only a component. All this might be taken into account by specifying the processing-time distribution differently. In this chapter, a model with an arbitrary processing-time distribution G(c) is considered and the possibility of deriving the same type of results obtained in Chapter 2 is examined.

Keywords: Payment System; Basic Framework; Priority Class; Average Processing Time; Expected Waiting Time (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26374-5_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349263745

DOI: 10.1007/978-1-349-26374-5_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().