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Newsletter
Any bounce in the economy in 2003?
Journal Article
Survey of consumer finances, 1983: a second report
Working Paper
Regulating two-sided markets: an empirical investigation
We study the effect of government encouraged or mandated interchange fee ceilings on consumer and merchant adoption and usage of payment cards in an economy where card acceptance is far from complete. We believe that we are the first to use bank- level data to study the impact of interchange fee regulation. We find that consumer and merchant welfare improved because of increased consumer and merchant adoption leading to greater usage of payment cards. We also find that bank revenues increased when interchange fees were reduced although these results are critically dependent on merchant ...
Journal Article
A jump in consumer loans?
The dramatic increases [in consumer loans] over the past few months have been caused by a new reporting requirement issued by the Financial Accounting Standards Board.
Journal Article
Recent changes in U.S. family finances: evidence from the 2001 and 2004 Survey of Consumer Finances
Reviews changes in the income and wealth of U.S. families between 2001 and 2004. The discussion draws on data from the Federal Reserve Board's triennial Survey of Consumer Finances for those years and also uses evidence from earlier years of the survey to place the 2001-04 changes in a broader context.
Journal Article
What's happening at the state and local level
Working Paper
Indirect Consumer Inflation Expectations: Theory and Evidence
Based on indirect utility theory, we introduce a novel methodology of measuring inflation expectations indirectly. This methodology starts at the individual level, asking consumers about the change in income required to buy the same amounts of goods and services one year ahead. Analytically, our methodology possesses smaller ex-post aggregate inflation forecast errors relative to forecasts based on conventional survey questions. We ask this question in a large-scale, high-frequency survey of consumers in the US and 14 countries, and we show that indirect consumer inflation expectations ...
Journal Article
Mobile Banking Use and Consumer Readiness to Benefit from Faster Payments
The U.S. payments industry is currently implementing faster payments that will enable consumers and businesses to send and receive payments almost instantly at any time of day, any day of the year. Mobile banking in particular may allow consumers to realize the full benefits of faster payments. As a result, a consumer’s use of mobile banking is a good indicator of their readiness to benefit from faster payments.Fumiko Hayashi and Ying Lei Toh examine which consumer characteristics are associated with mobile banking use as well as what other factors may influence consumer readiness. They ...
Journal Article
A matter of antitrust: the debate over the role of government as referee of market competition
Related link(s): https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/summer/feature3_weblinks.cfm