In this working paper, Bachman, Chakravorti, Rane, and Thyagarajan propose an incentive mechanism to remove CO2 from the atmosphere using direct air carbon capture and storage technology using distributed ledger technology.
Bob Chakravorti presented at Payments Canada 2018 in Toronto on May 9, 2018. He discussed the response of incumbents to the entry of FinTech firms. Specifically, he discussed payment, lending, wealth management, and cryptocurrency segments. He touched on the role of regulation and discussed the lack of banking services in...
Bob Chakravorti discusses surcharging and honor-all-cards rules for payment cards. Generally, merchants charge the same price regardless of the type of payment instrument used to make purchases. In many jurisdictions, merchants are not allowed to add a surcharge for payment card transactions because of legal (some states in the U.S...
Chakravorti and Jankowski summarize the 2005 Chicago Payments conference. The migration to more efficient payment mechanisms is affected by innovations, incentives, and regulations. While advances in technology have yielded numerous payment method alternatives, many have not been widely adopted. A Chicago Fed conference explored why certain payment innovations have been...
Over the last decade, consumers have tripled their use of credit cards as more merchants have increased their acceptance of them. This increase suggests that incentives in today’s marketplace favor greater credit card use by consumers and acceptance by merchants. In this paper, Chakravorti and Shah study the set of...
Chakravorti investigates payments system reforms begun by the Bank of Mexico in 1994. The goals of these reforms are to reduce the amount of uncollateralized intraday credit extended by the Bank of Mexico (previously unlimited), to promote a market-based allocation of intraday credit for interbank payments, and to move large-value...