Scale Economies, Scope Economies, and Technical Change in Federal Reserve Payment Processing (2004)
Bauer, Paul W., Sickles, Robin.
Journal of Money, Credit, and Banking - Volume 36, Number 5, October 2004
Thesis (Ph. D.)--University of North Carolina at Chapel Hill, 1985.
Thesis (Ph. D.)--University of North Carolina at Chapel Hill, 1985.
Federal policy and public transportation /--by Paul W. Bauer. (1981)
Thesis (M.S.)--Southern Connecticut State College.
Paul W. Bauer, Allen N. Berger, Gary D. Ferrier, David B. Humphrey
We propose a set of consistency conditions that frontier efficiency measures should meet to be most useful for regulatory analysis or other purposes. The efficiency estimates should be consistent in...
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Airline deregulation: is it time to finish the job?
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An examination of the payment problems that will have to be overcome as the electronic marketplace evolves, including the issues of trust between buyer and seller, security of payment instruments,...
Scale economies, cost efficiencies, and technological change in Federal Reserve payments.
Paul W. Bauer, Gary D. Ferrier
This paper uses a stochastic cost frontier to examine the scale economies, cost efficiencies, and technological change of three payments instruments--check, automated clearinghouse (ACH) transfers,...
Scale Economies, Scope Economies, and Technical Change in Federal Reserve Payment Processing.
Adams, Robert M, Bauer, Paul W, Sickles, Robin C
In the past decade, the U.S. economy has witnessed a tremendous surge in the usage of electronic payment processing services and an increased importance of the firms that provide these services. In...
Paths to prosperity: knowledge is key for Fourth District states
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Even as per capita income has increased across the United States, differences among states’ incomes remain. What are the sources of these remaining differences? This Commentary identifies and...
Scale economies, cost efficiencies, and technological change in Federal Reserve payments.
Paul W. Bauer, Gary D. Ferrier
This paper uses a stochastic cost frontier to examine the scale economies, cost efficiencies, and technological change of three payments instruments--check, automated clearinghouse (ACH) transfers,...
The effect of pricing on demand and revenue in Federal Reserve ACH payment processing
Because the automated clearinghouse (ACH) has been found to have lower social costs than paper checks, the Federal Reserve has been promoting more widespread use of ACH by lowering ACH processing...
"Don't panic": a primer on airline deregulation
A summary of the theory behind airline deregulation, and a look at the future evolution of the airline industry as it adapts to its new environment.
Airline hubs: a study of determining factors & effects
A study of the determinants that influence where airlines establish hubs in the hub-and-spoke networks that developed in the industry, with identification of the quantitative effects of these...
Scale economies and technological change in Federal Reserve ACH payment processing
An analysis of the contribution of scale economies, technological change, and falling input prices to the absolute reduction in the real processing costs of an ACH transfer over the 1979-94 period.
The sectoral and regional effects of oil shocks: who's over a barrel?
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Competition, concentration and fares in the U.S. airline industry
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Airline deregulation: boon or bust?
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We propose a set of consistency conditions that frontier efficiency measures should meet to be most useful for regulatory analysis or other purposes. The efficiency estimates should be consistent in...
Scale economies, scope economies, and technical change in Federal Reserve payment processing
Robert M. Adams, Paul W. Bauer, Robin C. Sickles
In the past decade, the U.S. economy has witnessed a tremendous surge in the usage of electronic payment processing services and an increased importance of the firms that provide these services. The...
Altered states: a perspective on 75 years of state income growth
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According to a study featured in the Federal Reserve Bank of Cleveland's 2005 Annual Report, differences in state income levels can be explained largely by two factors: innovation and workforce...
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An examination of the effects of price and availability of credit from commercial lending organizations on the start-up rates of new businesses within specific markets, finding that profitable and...
A reexamination of the relationship between capacity utilization and inflation
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Efficiency and technical progress in check processing
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An exploration of the effectiveness of testing procedures in uncovering discrimination by mortgage lenders, reflecting perceived shortcomings in the scope of data provided by the Home Mortgage...
Scale Economies, Cost Efficiencies, and Technological Change in Federal Reserve Payments Processing.
Bauer, Paul W, Ferrier, Gary D
This paper uses a stochastic cost frontier to examine the scale economies, cost efficiencies, and technological change of three payment instruments (check, ACH, and Fedwire processing) provided by...
The information age has led to many new forms of payment, including credit cards, debit cards, and online banking. In many ways, these new mechanisms seem preferable to cash. While the disappearance...
Regional variation in job creation and destruction
As companies and consumers adapt to a changing marketplace, jobs are eliminated and new ones are created. Rates at which this happens vary across states and reflect the flexibility of the labor...
Despite the increasing use of credit and debit cards and the emergence of various electronic payment instruments, currency remains king-at least for small-dollar-value transactions. The author...
Are we in a productivity boom? Evidence from multifactor productivity growth
Increased productivity could be the key to preserving robust, noninflationary GDP growth. But what is the best measure of productivity? This Economic Commentary explores the relationship between...
Money laundering has gone on since the first crime was committed for profit, but it has been explicitly illegal only since 1986. Interest in this topic soars whenever a major “laundromat” is...
Productivity gains: how permanent?
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This Economic Commentary confirms that productivity growth has been unusually robust over the last few years and explores reasonable assumptions about the likely future pattern of productivity...
Consumer financial privacy and the Gramm-Leach-Bliley Act
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What you should know about identity theft
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The death of paper checks has been predicted since the 1960s, but only recently has their use begun to decline. The end may be near, though, as two forces accelerate the trend away from checks: the...
A technique for estimating a cost system that allows for inefficiency
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An overview of the airline industry's early adaptations to deregulation using a best-practice cost function approach; measures cost efficiency and changes in total factor productivity growth for...
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Local banking markets and firm location
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U.S. air passenger service: a taxonomy of route networks, hub locations, and competition
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In this paper, we analyze the service provided by the 13 largest U.S. passenger airlines to the 100 most populous U.S. metropolitan areas in 1989. We classify the route systems by their nature and...
The determinants of airport hub locations, service, and competition
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Although the airline industry has been studied extensively since passage of the Airline Deregulation Act of 1978, relatively little effort has gone into examining how hub location affects the level...
Scale economies, cost efficiencies, and technological change in Federal Reserve payments processing
Paul W. Bauer, Gary D. Ferrier
Payment systems
The effect of pricing on demand and revenue in Federal Reserve ACH payment processing
Because the automated clearinghouse (ACH) has been found to have lower social costs than paper checks, the Federal Reserve has been promoting more widespread use of ACH by lowering ACH processing...
Optimal employment of scale economies in the Federal Reserve's currency infrastructure
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Given estimates of shipping costs and scale economies for high-speed currency sorting, the authors investigate whether the Federal Reserve might lower its costs by reallocating the volume of sorting...
Scope and scale economies in Federal Reserve payment processing
Robert M. Adams, Paul W. Bauer, Robin C. Sickles
In the past decade, the U.S. economy has witnessed a tremendous surge in the usage of electronic payment processing services and an increased importance of the firms that provide these services. The...
State growth empirics: the long-run determinants of state income growth
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Real average U.S. per capita personal income growth over the last 65 years exceeded a remarkable 400 percent. Also notable over this period is that the stark income differences across states have...
Estimating GSP and labor productivity by state
In gauging the health of state economies, arguably the two most important series to track are employment and output. While employment by state is available about three weeks after the end of a month,...
Scale economies, cost efficiencies, and technological change in Federal Reserve payments.
Paul W. Bauer, Gary D. Ferrier
This paper uses a stochastic cost frontier to examine the scale economies, cost efficiencies, and technological change of three payments instruments--check, automated clearinghouse (ACH) transfers,...
The effect of pricing on demand and revenue in Federal Reserve ACH payment processing
Because the automated clearinghouse (ACH) has been found to have lower social costs than paper checks, the Federal Reserve has been promoting more widespread use of ACH by lowering ACH processing...
Paul W. Bauer, Allen N. Berger, Gary D. Ferrier, David B. Humphrey
We propose a set of consistency conditions that frontier efficiency measures should meet to be most useful for regulatory analysis or other purposes. The efficiency estimates should be consistent in...