In his testimony, Bob Chakravorti elaborated on the following areas: first, the state of the economic literature on the costs and benefits of capital regulation; second, the enormous changes that we have seen post-crisis in the bank capital regulatory landscape and the ensuing changes to the quality and quantity of...
Bob Chakravorti discusses surcharging and honor-all-cards rules for payment cards. Generally, merchants charge the same price regardless of the type of payment instrument used to make purchases. In many jurisdictions, merchants are not allowed to add a surcharge for payment card transactions because of legal (some states in the U.S...
Chakravorti and Jankowski summarize the 2005 Chicago Payments conference. The migration to more efficient payment mechanisms is affected by innovations, incentives, and regulations. While advances in technology have yielded numerous payment method alternatives, many have not been widely adopted. A Chicago Fed conference explored why certain payment innovations have been...
The proportion of retail, non-cash payments made electronically in the U.S. grew from 15% in 1979 to 40% in 2000. A recent Chicago Fed conference addressed the important question of whether today's payment networks can adequately support emerging payment technologies.