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Keywords:Payment systems 

Journal Article
Price isn't everything

A comparison of Fedwire, CHIPS, and GlobeSet payment services for 24-hour global markets, emphasizing the constraining influence of the Federal Reserve's monetary policy responsibilities on Fedwire's market share.
Economic Commentary , Issue Apr

Journal Article
Resisting electronic payment systems: burning down the house?

This commentary explains the phenomena of path dependence, hysteresis, and network economies using lively historical and contemporary examples. The author shows how the path dependence and network economies can interact to produce a variety of undesirable ends-inefficient payment systems, the adoption of inferior technology, or disasters like the 1834 fire that destroyed the British House of Lords.
Economic Commentary , Issue Jul

Cash is dead! Long live cash! : annual report essay

In an essay in the 2012 Annual Report, San Francisco Fed President and CEO John C. Williams explains why currency in circulation is soaring at the same time Americans are turning away from cash to pay for purchases. He also looks at the future demand for cash and the role the San Francisco Fed plays to help the Federal Reserve distribute currency and ensure enough is in circulation.
Annual Report

Cash counts

Does cash still count? Electronic payments in their many forms are a ubiquitous part of our culture and the U.S. economy. Many of us have our paychecks automatically deposited in our bank accounts. We use online bill payment services and frequently shop at our favorite virtual storefronts. Businesses increasingly use electronic payment methods?taking advantage of cost and efficiency gains to contribute to their bottom lines. With this commonplace use of electronic money, you might assume that paper payments are shrinking, and perhaps the predictions of a cashless society, which have persisted ...
Annual Report

Journal Article
What is the Federal Reserve banks' imputed cost of equity capital?

The Federal Reserve System is an important participant in the nation's payments system, which is the infrastructure used for transmitting and settling payments between individuals, firms, and government entities. For example, as reported in the Federal Reserve System's 2004 annual report, the twelve Federal Reserve Banks processed about 16 billion checks, or about 45%, of the 37 billion checks written in 2003. In addition, the Federal Reserve provides fully electronic payments services, such as automated clearing house services. Since the Federal Reserve is required to charge fees for these ...
FRBSF Economic Letter

Journal Article
A cashless society?

FRBSF Economic Letter

Journal Article
Global payments in the 21st century: a central banker's view

FRBSF Economic Letter

Journal Article
Why do Americans still write checks?

FRBSF Economic Letter

Journal Article
Bank ATMs and ATM surcharges

The proliferation of ATMs and the pricing schemes that accompany them have attracted a great deal of attention from research economists, because they shed light on how banks compete against each other in the current environment. By studying the pattern of entry of ATMs in certain markets we can gain insight into the potential welfare consequences of the lifting of artificial price controls. This Economic Letter reports on recent research on bank ATMs and ATM surcharges.
FRBSF Economic Letter

Journal Article
What's in your wallet? the future of cash

The payment landscape has changed dramatically in recent years as new technologies have been brought to market. Yet, the demand for U.S. currency?cold, hard cash?shows no sign of fading. An empirical analysis indicates that alternative payment technologies have tended to keep cash growth in check, but other factors have more than offset this. Over the next 10 years, cash volume is projected to grow 1.7% per year.
FRBSF Economic Letter



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anonymous 58 items

McAndrews, James J. 26 items

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