Payments & Policy

We have added to the body of work in the field of payment economics, drawing upon the techniques and insights of both monetary and banking theory. Various payments systems have been examined, including cash, checks, credit and debit cards, and electronic funds transfers. In addition, we have examined the involvement of central banks in the operation and regulation of payments clearing and settlement.

Third Quarter 2014

The Impact of the Durbin Amendment on Merchants: A Survey Study

Zhu Wang, Scarlett Schwartz and Neil Mitchell

Fall 2007

Currency Quality and Changes in the Behavior of Depository Institutions

Hubert P. Janicki, Nashat F. Moin, Andrea L. Waddle and Alexander L. Wolman

March 2017, No. 17-05

Should Platforms be Allowed to Charge Ad Valorem Fees?

Zhu Wang and Julian Wright

August 1989, No. 90-2 (Revised Dec. 1989)

Limited Commitment and Costly Enforcement

March 1979, No. 79-1 (Revised Nov. 1979)

Determinants of Correspondent Banking Relationships with the Federal Reserve System

Bruce J. Summers and John P. Segala

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Research Department
(804) 697-8000