New evidence on the Fed's productivity in providing payments services

Journal of Banking and Finance

Volumn 28, Issue 9, 2004, Pages 2175-2190

  Gilbert, R Alton ^a   Wheelock, David C ^a   Wilson, Paul W ^b  

^a FEDERAL RESERVE BANK OF ST LOUIS   (United States)

^b UNIVERSITY OF TEXAS AT AUSTIN   (United States)

Author keywords

Check processing; DEA; Payments system

Indexed keywords

EID: 3242882002     PISSN: 03784266     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbankfin.2003.08.006     Document Type: Article

References (30)

1. Adams R.M. Bauer P.W. Sickles R.C. 2002. Scale Economies, Scope Economies, and Technical Change in Federal Reserve Payments Processing. Board of Governors of the Federal Reserve System, Washington, DC
2. Bauer P.W. Ferrier G.D. Scale economies, cost efficiencies, and technological change in Federal Reserve payments processing Journal of Money, Credit, and Banking 28 1996 1004-1039
3. Bauer P.W. Hancock D. 1995. Scale economies and technological change in Federal Reserve ACH payment processing. Federal Reserve Bank of Cleveland Economic Review (Quarter 3) 14-29
4. Bauer P.W. Hancock D. The efficiency of the Federal Reserve in providing check processing services Journal of Banking and Finance 17 1993 287-311
5. Berger A.N. Humphrey D.B. Efficiency of financial institutions: International survey and directions for future research European Journal of Operational Research 98 1997 175-212
6. Board of Governors of the Federal Reserve System, 2001. Annual Report, Washington, DC
7. Federal Reserve System, 2002. Retail Payments Research Project. Washington, DC
8. Federal Reserve System, 2003. Financial Services Policy Committee, press release, February 6, 2003. Available from www.federalreserve.gov/boarddocs/press
9. Gijbels I. Mammen E. Park B.U. Simar L. On estimation of monotone and concave frontier functions Journal of the American Statistical Association 94 1999 220-228
10. Hancock D. Humphrey D.B. Wilcox J.A. Cost reductions in electronic payments: The roles of consolidation, economies of scale, and technical change Journal of Banking and Finance 23 1999 391-421
11. Hjort N.L. Jones M.C. 1996. Better rules of thumb for choosing bandwidth in density estimation. Department of Mathematics, University of Oslo, Oslo, Norway
12. Humphrey D.B. Economies to scale in Federal Reserve check processing operations Journal of Econometrics 15 1981 155-173
13. Humphrey D.B. Resource use in Federal Reserve check and ACH operations after pricing Journal of Bank Research 16 1985 45-53
14. Isik I. Hassan M. Technical, scale and allocative efficiencies of Turkish banking industry Journal of Banking and Finance 26 2002 719-766
15. Kneip A. Park B.U. Simar L. A note on the convergence of nonparametric DEA estimators for production efficiency scores Econometric Theory 14 1998 783-793
16. Korostelev A. Simar L. Tsybakov A. 1995. On Estimation of Monotone and Convex Boundaries. Publications de l'Institut de Statistique de l'Université de Paris XXXIX 1, pp. 3-18
17. McKillop D.G. Glass J.C. Ferguson C. Investigating the cost performance of UK credit unions using radial and non-radial efficiency measures Journal of Banking and Finance 26 2002 1563-1591
18. Park B. Simar L. Weiner C. The FDH estimator for productivity efficiency scores: Asymptotic properties Econometric Theory 16 2000 855-877
19. Rezvanian R. Mehdian S. An examination of cost structure and production performance of commercial banks in Singapore Journal of Banking and Finance 26 2002 79-98
20. Rivlin A.M. Kelley E.W. McDonough W.J. Melzer T.C. 1998. The Federal Reserve in the Payments Mechanism. Committee on the Federal Reserve in the Payments Mechanism, Federal Reserve System, Washington, DC
21. Sathye M. X-efficiency in Australian banking: An empirical investigation Journal of Banking and Finance 25 2001 613-630
22. Shephard R.W. Theory of Cost and Production Functions 1970 Princeton University Press Princeton, NJ
23. Silverman B.W. Density Estimation for Statistics and Data Analysis 1986 Chapman and Hall London
24. Simar L. 2003. Detecting outliers in frontier models: A simple approach. Journal of Productivity Analysis, in press
25. Simar L. Wilson P.W. Sensitivity analysis of efficiency scores: How to bootstrap in nonparametric frontier models Management Science 44 1998 49-61
26. Simar L. Wilson P.W. A general methodology for bootstrapping in non-parametric frontier models Journal of Applied Statistics 27 2000 779-802
27. Simar L. Wilson P.W. Statistical inference in nonparametric frontier models: The state of the art Journal of Productivity Analysis 13 2000 49-78
28. Simar L. Wilson P.W. Testing restrictions in non-parametric efficiency models Communications in Statistics 30 2001 159-184
29. Simar L. Wilson P.W. Nonparametric tests of returns to scale European Journal of Operational Research 139 2002 115-132
30. Wilson P.W. 2003. Testing Independence in Models of Productive Efficiency. Department of Economics, University of Texas, Austin, TX