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Journal Article
Fed introduces nationally standardized check services
anonymous (2000-07)
Financial Update , Volume 13 , Issue Jul , Pages 4

Journal Article
Statement to Congress, October 17, 1989 (Government Check Cashing Act of 1989 and Basic Banking Services Access Act of 1989)
Seger, Martha R. (1989-12)
Federal Reserve Bulletin , Issue Dec

Journal Article
Checks enter the electronic age
Walter, John R. (2004-01)
Econ Focus , Volume 8 , Issue Win , Pages 4

Working Paper
Demandable debt as a means of payment: banknotes versus checks
Roberds, William; Kahn, Charles M. (1998)
We examine the question of whether transactable forms of privately issued, demandable debt are better used as "banknotes" or "checks." The distinction between the two is that a check must be redeemed by the issuing bank with each use, whereas a banknote can circulate. We find that the answer to the question depends critically on the cost of early redemption. If this cost is small, banknotes will not circulate, so the question is moot. If this cost is large, incentive problems will prevent the issue of banknotes. For intermediate values of the early redemption cost, the option of early ...
FRB Atlanta Working Paper , Paper 98-5

Journal Article
Means of payment, the unbanked, and EFT '99
Prescott, Edward Simpson; Tatar, Daniel D. (1999-10)
Economic Quarterly , Issue Fall , Pages 49-70

Journal Article
Perspective on payments
Stavins, Joanna (2003-01-01)
One reason the U.S. has been slow to move from paper checks to electronic payments is that the benefits for individual users are less than for the payments system as a whole.
Regional Review , Issue Q 1 , Pages 6-9

Working Paper
A general equilibrium analysis of check float
Roberds, William; McAndrews, James J. (1997)
Households and businesses in the United States prefer to use check payment over less costly, electronic means of payment. Earlier studies have focused on check "float," that is, the time lag between receipt and clearing, as a potential explanation for the continued popularity of checks. An underlying assumption of these studies is that check float operates as a pure transfer from payee to payor. We construct a simple general equilibrium model in which payments are made by check. In general equilibrium, check float does not act as a pure transfer. If float can be priced into market ...
FRB Atlanta Working Paper , Paper 97-4

Journal Article
The Federal Reserve : the check business
Nash, Betty Joyce (2003-01)
Econ Focus , Volume 7 , Issue Win , Pages 2-4

Journal Article
Why do we use so many checks?
McHugh, Timothy; Chakravorti, Sujit (2002-07)
The authors identify underlying disincentives for payment system participants to migrate to electronic payments. Their analysis sheds light on why check usage remains higher in the United States relative to other industrialized countries when the real resource cost of processing payments may decrease by using electronic payment networks.
Economic Perspectives , Volume 26 , Issue Q III , Pages 44-59

Working Paper
Paper or plastic? the effect of time on the use of check and debit cards at grocery stores
Klee, Elizabeth C. (2006)
Time is a significant cost of conducting transactions, and theoretical models predict that transactions costs significantly affect the type of media of exchange buyers use. However, there is little empirical work documenting the magnitude of this effect. This paper uses grocery store scanner data to examine how time affects consumer choices of checks and debit cards. On average, check transactions take thirty percent longer than debit card transactions. This time difference is a significant factor in the choice to use a debit card over a check and offers empirical evidence for transactions ...
Finance and Economics Discussion Series , Paper 2006-02

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