Adams, Robert M; Bauer, Paul W; Sickles, Robin C - In: Journal of Money, Credit and Banking 36 (2004) 5, pp. 943-58
In the past decade, the U.S. economy has witnessed a tremendous surge in the usage of electronic payment processing services and an increased importance of the firms that provide these services. In this paper, we estimate scale economies, scope economies, and technical change in the Federal...