| Wednesday, March 31 | |
| 8:15 a.m. | Continental breakfast |
| 8:45 | Introductory Remarks: Richard Oliver, Federal Reserve Bank of Atlanta |
| 9:00 | Invited Lecture |
| Challenges for Research in Payments Edward Green, Federal Reserve Bank of Chicago Presentation (PDF 24 KB) |
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| 10:00 | Break |
| 10:30 | Session I: Analyses of Large-Value Payment Systems Chair: Sean O'Connor, Bank of Canada |
| Efficient
Pricing of Large Value Interbank Payment Systems Cornelia Holthausen, European Central Bank, and Jean-Charles Rochet, University of Toulouse Presentation (PDF 92 KB) Discussant: John Weinberg, Federal Reserve Bank of Richmond |
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| Real-Time Gross Settlement and Hybrid Payments Systems: A Comparison Matthew Willison, Bank of England Presentation (PPT 286 KB) Discussant: Morten Bech, Federal Reserve Bank of New York Presentation (PDF 617 KB) |
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| Noon | Lunch |
| 2:00 p.m. | Session II: Monetary Theory and Payment Systems Chair: Warren Weber, Federal Reserve Bank of Minneapolis |
| Money and Banking
in Search Equilibrium Ping He and Randall Wright, University of Pennsylvania, and Lixin Huang, City University of Hong Kong Presentation (PDF 188 KB) Discussant: Charles Kahn, University of Illinois |
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| Institutions
of Foreign Exchange Settlement in a Two-Country Model Hiroshi Fujiki, Bank of Japan Presentation (PPT 220 KB) Discussant: David Mills, Board of Governors Presentation (PPT 37 KB) |
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| 3:30 | Break |
| 4:00 | Session III: Payment Systems and Fragility Chair: Stacey Schreft, Federal Reserve Bank of Kansas City |
| Default and Fragility in the Payments System Scott Freeman, University of Texas and Paula Hernandez-Verme, Texas A&M University Presentation (PPT 253 KB) Discussant: Cyril Monnet, European Central Bank |
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| Payment System
Disruptions and the Federal Reserve Following September 11, 2001 Jeffrey Lacker, Federal Reserve Bank of Richmond Presentation (PPT 3,875 KB) Discussant: William Whitesell, Board of Governors Presentation (DOC 38 KB) |
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| 5:30 | Reception |
| Thursday, April 1 | |
| 8:30 a.m. | Continental breakfast |
| 9:00 | Session I: Empirical Studies of Retail
Payments Chair: Paul Bauer, Federal Reserve Bank of Cleveland |
| Evidence on the Use of Checks and Other Noncash Payments in the United States: Have Checks Peaked? Geoffrey Gerdes, Board of Governors Discussant: Joanna Stavins, Federal Reserve Bank of Boston Presentation (PDF 118 KB) |
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| Why Use Debit
Instead of Credit? Consumer Choice in a Trillion Dollar Market Jonathan Zinman, Federal Reserve Bank of New York Presentation (DOC 46 KB) Discussant: Elizabeth Klee, Board of Governors Presentation (PDF 49 KB) |
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| 10:30 | Break |
| 11:00 | Invited Lecture |
| Two-Sided Markets and Tying in Payment Systems Two-Sided Markets: An Overview Presentation (PPT 546 KB) Jean-Charles Rochet, University of Toulouse |
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| Noon | Lunch |
| 1:30 p.m. | Session II: Competition in Payment Systems Chair: Scott Frame, Federal Reserve Bank of Atlanta |
| Platform Competition in Two-Sided Markets: The Case of Payment Networks Sujit Chakravorti, Federal Reserve Bank of Chicago, and Rob Roson, Universita’ Ca’ Foscari di Venezia Presentation (PPT 1,411 KB) Discussant: Wilko Bolt, De Nederlandsche Bank Presentation (PPT 77 KB) |
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| Hold-up on a Monopoly-Owned Network Antoine Martin and Michael Orlando, Federal Reserve Bank of Kansas City Presentation (PPT 166 KB) Discussant: Thorsten Köeppl, European Central Bank Presentation (PDF 36 KB) |
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| 3:00 | Break |
| 3:30 | Session III: Electronic Payment Adoption Chair: Alton Gilbert, Federal Reserve Bank of St. Louis |
| Cost Savings
from Electronic Payments and ATMs in Europe David Humphrey, Florida State University; Magnus Willesson, Göran Bergendahl, and Ted Lindblom, University of Gothenburg Presentation (PPT 291 KB) Discussant: Juha Tarkka, Bank of Finland Presentation (PPT 215 KB) |
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| 4:15 | Close |