Many automated teller machine (ATM) networks are partially vertically integrated. A group of downstream retail banks own and operate the upstream network switch. The size of the group varies from network to network. The same situation exists in other network businesses, including airline...

This paper develops a model of wholesale and retail fee-setting for automated teller machine (ATM) network services, and comparative statics results are derived. Retail ATM fees are shown to be dependent on the demand-side network effect and economies of scale in production of network services....

This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically describes a potential large macro-micro database for the U.S. based on an extended version of the Flow of Funds. I argue that such a database would have been of...