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Speech
Beyond the crisis: reflections on the challenges
Checki, Terrence J. (2009)
Remarks at the Foreign Policy Association Corporate Dinner, New York City
Speech , Paper 8

Working Paper
Pricing and welfare implications of payment card network competition
Hayashi, Fumiko (2006)
This paper examines how competition among payment card networks three-party scheme networks and four-party scheme networks affects pricing as well as the welfare of various parties. A competing network has an incentive to provide rewards to its card users. By providing more generous rewards than its rival networks, the network can increase its own card transactions because multihoming cardholders who hold multiple networks cards choose to use its card instead of using its rivals. Although a monopoly network does not have such an incentive, in a monopoly four-party scheme network, competition ...
Payments System Research Working Paper , Paper PSR WP 06-03

Journal Article
Competition among bank regulators
Weinberg, John A. (2002-10)
Economic Quarterly , Issue Fall , Pages 19-36

Journal Article
Potential competition and the banks
Hannan, Timothy H. (1978-01)
Business Review , Issue Jan , Pages 7-13

Working Paper
Platform competition in two-sided markets: the case of payment networks
Chakravorti, Sujit; Roson, Roberto (2004)
In this article, we construct a model to study competing payment networks, where networks offer differentiated products in terms of benefits to consumers and merchants. We study market equilibria for a variety of market structures: duopolistic competition and cartel, symmetric and asymmetric networks, and alternative assumptions about multihoming and consumer preferences. We find that competition unambiguously increases consumer and merchant welfare. We extend this analysis to competition among payment networks providing different payment instruments and find similar results.
Working Paper Series , Paper WP-04-09

Journal Article
Economies of scale and continuing consolidation of credit unions
Wilcox, James A. (2005)
This Economic Letter shows that, in contrast to banks, larger credit unions, on average, have decidedly lower average costs and higher net incomes, as we might expect in the presence of important economies of scale. It further notes that these economies of scale put pressure on the credit union industry to continue consolidating into fewer, larger credit unions. It also describes how some recent legislation may have further added to the pressures on both the banking and credit union industries to consolidate.
FRBSF Economic Letter

Journal Article
Pitching for the minor leagues
Wirtz, Ronald A. (2001-03)
Fedgazette , Volume 13 , Issue Mar , Pages 2-3

Working Paper
Undocumented worker employment and firm survivability
Quispe-Agnoli, Myriam; Hotchkiss, Julie L.; Brown, J. David (2008)
Do firms employing undocumented workers have a competitive advantage? Using administrative data from the state of Georgia, this paper investigates the incidence of undocumented worker employment across firms and how it affects firm survival. Firms are found to engage in herding behavior, being more likely to employ undocumented workers if competitors do. Rivals' undocumented employment harms firms' ability to survive while firms' own undocumented employment strongly enhances their survival prospects. This finding suggests that firms enjoy cost savings from employing lower-paid undocumented at ...
FRB Atlanta Working Paper , Paper 2008-28

Journal Article
Dynamic measures of competitiveness: are the geese still flying in formation?
Rose, Andrew K. (1997)
FRBSF Economic Letter

Report
Credit market competition and the nature of firms
Cetorelli, Nicola (2009)
Empirical studies show that competition in the credit markets has important effects on the entry and growth of firms in nonfinancial industries. This paper explores the hypothesis that the availability of credit at the time of a firm's founding has a profound effect on that firm's nature. I conjecture that in times when financial capital is difficult to obtain, firms will need to be built as relatively solid organizations. However, in an environment of easily available financial capital, firms can be constituted with an intrinsically weaker structure. To test this conjecture, I use ...
Staff Reports , Paper 366

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