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"This paper examines the technical efficiency of U.S. Federal reserve check processing offices over 1980-2003. We use new unconditional quantile estimator of efficiency that avoids some drawbacks of other recently proposed estimators. The new estimator is fully non-parametric, robust with...
Persistent link: https://www.econbiz.de/10002977394
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those of other private sector agents. Therefore, our model connects intermediation activity with the issuance of payments …
Persistent link: https://www.econbiz.de/10005360537
As the dominant provider of payments services, the efficiency with which the Federal Reserve provides such services in … of pricing for Federal Reserve services in 1982. However, we find that median productivity improved substantially during …
Persistent link: https://www.econbiz.de/10005707735
became major processors of interregional checks, even though banks could have continued to use the prior payments …
Persistent link: https://www.econbiz.de/10005490972
This paper examines the technical efficiency of U.S. Federal Reserve check processing offices over 1980–2003. We extend results from Park et al. (2000) and Daouia and Simar (2007) to develop an unconditional, hyperbolic, a-quantile estimator of efficiency. Our new estimator is fully...
Persistent link: https://www.econbiz.de/10005491013
: furnishing payment services to households and firms. including wire transfers, ACH payments, and check clearing settlement …
Persistent link: https://www.econbiz.de/10002995303