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Conference Paper
Interchange fees in credit and debit card industries : what role for public authorities : conference summary
Sullivan, Richard J.; Pacheco, Barbara (2005-05)
Proceedings – Payments System Research Conferences , Issue May , Pages xix - xxxix

Journal Article
Recent developments in the credit card market and the financial obligations ratio
Johnson, Kathleen W. (2005-10)
This article argues that three important developments in the credit card market over the period account for most of the rise in credit card payments relative to income and played a strong role in the rise of the total financial obligations ratio (FOR). First, improvements in credit scoring technology and the advent of risk based pricing of credit card debt have increased the share of households particularly lower income households with a credit card. Second, in the 1990s, credit card interest rates began to vary with changes in broader market interest rates, which in turn led to an especially ...
Federal Reserve Bulletin , Volume 91 , Issue Aut

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

Briefing
Developments in interchange fees in the United States and abroad
Bradford, Terri (2008-04)
Payments System Research Briefing , Issue Apr

Discussion Paper
Voting with your feet: consumers’ problems with credit cards and exit behaviors
Stanley, Anne (2003)
On December 17, 2002 the Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a workshop led by Jeanne Hogarth and Marianne Hilgert of the Consumer and Community Affairs Department of the Board of Governors of the Federal Reserve System. The presentation and subsequent discussion focused on their paper ?Voting With Your Feet: Consumers? Problems with Credit Cards and Exit Behaviors,? that was co-authored with Jane Kolodinsky of the University of Vermont and Jinkook Lee of Ohio State University. The paper is the result of a study conducted through the Surveys of Consumers ...
Consumer Finance Institute discussion papers , Paper 03-06

Working Paper
Spending responses to state sales tax holidays
Agarwal, Sumit; McGranahan, Leslie (2012)
Every year over 20 states offer sales tax holidays (STHs) on specific items like clothes, shoes and other items to encourage consumption, affecting over 100 million consumers. We use a unique dataset of credit cards transaction to study the spending response to these holidays. Using a diff-in-diff methodology, we find that STHs increase overall daily spending by 8%, with large percentage increases in spending on children?s clothes and shoes of 193% and 98% respectively. Consumers with children increase spending more during STHs. Our estimates of price elasticities range from 6 for big box ...
Working Paper Series , Paper WP-2012-10

Journal Article
Update : as payments go plastic
Todd, Tim (2006-07)
TEN , Issue Sum , Pages 26-28

Discussion Paper
The 2009 survey of consumer payment choice
Foster, Kevin; Schuh, Scott; Meijer, Erik; Zabek, Mike (2011)
This paper presents results of the 2009 Survey of Consumer Payment Choice (SCPC), along with revised 2008 SCPC data. In 2009, the average U.S. consumer held 5.0 of the nine payment instruments available, including cash, and used 3.8 of them during a typical month. Between the 2008 and 2009 surveys, a period that includes the trough of the latest recession, consumers significantly increased their use of cash and close substitutes for cash, such as money orders and prepaid cards. At the same time, consumers reduced their use of credit cards and (to a lesser extent) debit cards, as well as ...
Public Policy Discussion Paper , Paper 11-1

Working Paper
Potential competitive effects on U.S. bank credit card lending from the proposed bifurcated application of Basel II
Lang, William W.; Vermilyea, Todd A.; Mester, Loretta J. (2005)
This paper analyzes the potential competitive effects of the proposed bifurcated application of Basel II capital regulations in the United States on bank credit card lending activities. For this purpose, the authors consider the Basel II regulations as stated in the June 2004 Basel Committee Framework Agreement. ; Also issued as Payment Cards Center Discussion Paper No. 05-21 ; Superseded by Working Paper 07-09
Working Papers , Paper 05-29

Working Paper
Credit card debt and payment use
Stavins, Joanna; Sprenger, Charles (2008)
Approximately half of credit card holders in the United States regularly carry unpaid credit card debt. These so-called "revolvers" exhibit payment behavior that differs from that of those who repay their entire credit card balance every month. Previous literature has focused on the adoption of debit cards by people who carry credit card balances, but so far there has been no empirical analysis exploring the relationship between revolving behavior and patterns of payment use, such as substitution away from credit cards to other payment methods. ; Using data collected in the 2005 Survey of ...
Working Papers , Paper 08-2

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