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Scale economies and technological change in Federal Reserve ACH payment processing

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Author Info

  • Paul W. Bauer
  • Diana Hancock

Abstract

An analysis of the contribution of scale economies, technological change, and falling input prices to the absolute reduction in the real processing costs of an ACH transfer over the 1979-94 period.

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File URL: http://www.clevelandfed.org/Research/Review/1995/95-q3-bauer.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1995)
Issue (Month): Q III ()
Pages: 14-29

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Handle: RePEc:fip:fedcer:y:1995:i:qiii:p:14-29

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Keywords: Clearinghouses (Banking);

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Gary C. Zimmerman, 1981. "The pricing of Federal Reserve services under MCA," Economic Review, Federal Reserve Bank of San Francisco, issue Win, pages 22-40.
  2. Scott E. Knudson & Jack K. Walton II & Florence M. Young, 1994. "Business-to-business payments and the role of financial electronic data interchange," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Apr, pages 269-278.
  3. David B Humphrey, 1982. "Costs, scale economies, competition, and product mix in the U.S. payments mechanism," Staff Studies 115, Board of Governors of the Federal Reserve System (U.S.).
  4. Jack Beebe & Gary Zimmerman, 1982. "Fed pricing," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar12.
  5. Brown,Stephen J. & Sibley,David Sumner, 1986. "The Theory of Public Utility Pricing," Cambridge Books, Cambridge University Press, number 9780521314008, November.
  6. Oi, Walter Y, 1971. "A Disneyland Dilemma: Two-Part Tariffs for a Mickey Mouse Monopoly," The Quarterly Journal of Economics, MIT Press, vol. 85(1), pages 77-96, February.
  7. Roberts, Kevin W S, 1979. "Welfare Considerations of Nonlinear Pricing," Economic Journal, Royal Economic Society, vol. 89(353), pages 66-83, March.
  8. Baumol, William J & Bradford, David F, 1970. "Optimal Departures from Marginal Cost Pricing," American Economic Review, American Economic Association, vol. 60(3), pages 265-83, June.
  9. Paul W. Bauer, 1993. "Efficiency and technical progress in check processing," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 24-38.
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Citations

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Cited by:
  1. Hromcová, Jana, 2008. "Learning-or-doing in a cash-in-advance economy with costly credit," Journal of Economic Dynamics and Control, Elsevier, vol. 32(9), pages 2826-2853, September.
  2. Kirstin E. Wells, 1996. "Are checks overused?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall, pages 2-12.
  3. Joanna Stavins & Paul W. Bauer, 1997. "The effect of pricing on demand and revenue in Federal Reserve ACH payment processing," Working Papers 97-6, Federal Reserve Bank of Boston.
  4. Malkamäki, Markku, 1999. "Are there Economies of Scale in Stock Exchange Activities?," Research Discussion Papers 4/1999, Bank of Finland.
  5. Robert M. Adams & Paul W. Bauer & Robin C. Sickles, 2002. "Scale economies, scope economies, and technical change in Federal Reserve payment processing," Finance and Economics Discussion Series 2002-57, Board of Governors of the Federal Reserve System (U.S.).
  6. Khiaonarong, Tanai, 2003. "Payment systems efficiency, policy approaches, and the role of the central bank," Research Discussion Papers 1/2003, Bank of Finland.
  7. W. Scott Frame & Lawrence J. White, 2009. "Technological Change, Financial Innovation, and Diffusion in Banking," Working Papers 09-03, New York University, Leonard N. Stern School of Business, Department of Economics.
  8. Robert M. Adams & Paul W. Bauer & Robin C. Sickles, 2002. "Scope and scale economies in Federal Reserve payment processing," Working Paper 0213, Federal Reserve Bank of Cleveland.
  9. Malkamäki, Markku & Topi, Jukka, 1999. "Strategic Challenges for Exchanges and Securities Settlement," Research Discussion Papers 21/1999, Bank of Finland.
  10. Joanna Stavins & Paul W. Bauer, 1997. "The effect of pricing on demand and revenue in Federal Reserve ACH payment processing," Financial Services working paper 97-01, Federal Reserve Bank of Cleveland.
  11. Hasan, Iftekhar & Malkamaki, Markku, 2001. "Are expansions cost effective for stock exchanges? A global perspective," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2339-2366, December.
  12. Joanna Stavins, 1997. "A comparison of social costs and benefits of paper check presentment and ECP with truncation," New England Economic Review, Federal Reserve Bank of Boston, issue Jul, pages 27-44.
  13. Guerino Ardizzi, 2003. "Cost efficiency in the retail payment networks: first evidence from the Italian credit card system," Temi di discussione (Economic working papers) 480, Bank of Italy, Economic Research and International Relations Area.
  14. Joanna Stavins, 2002. "Effect of consumer characteristics on the use of payment instruments," New England Economic Review, Federal Reserve Bank of Boston, issue Q 3, pages 19-31.
  15. Tanai Khiaonarong, 2004. "Payment systems efficiency, policy approaches, and the role of the central bank," Finance 0405004, EconWPA.

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