Fumiko
Hayashi
Senior Economist
Research Department
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, MO 64198
Email:
fumiko.hayashi@kc.frb.org
| Publications in journals and books | Other publications |
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Fumiko Hayashi is a Senior Economist in the Payments System function of the Economic Research Department at the Federal Reserve Bank of Kansas City. Since joining the Federal Reserve in 2001, Ms. Hayashi has specialized in the economics of payments-related markets, such as ATM, debit card and credit card markets. Her current projects include research on consumer payment choices and on the economic and public policy implications of recent changes in the ATM and debit card industry. Prior to joining the Federal Reserve Bank of Kansas City, Ms. Hayashi conducted research examining consumer savings and long-term care insurance, social security reform in Japan and nursing home markets in the United States. Her research has been published in academic journals such as the Quarterly of Social Security Research (Japan), the Economic Review (Japan) and JCER Economic Journal (Japan). She received a bachelor's degree and master's degree in economics from Hitotsubashi University and a Ph.D. in economics from the University of Minnesota. |
"Payment
Card Interchange Fees and Merchant Service Charges--An International
Comparison," Lydian Payments Journal, Vol. 1, Issue 3, January
2010. (PDF
1.91mb see p. 6-22
"A Puzzle of Card Payment Pricing: Why Are Merchants Still Accepting Card Payments?" Review of Network Economics, Vol. 5, Issue 1 - March 2006. "A Guide to the ATM and Debit Card Industry: 2006 Update," with Richard J. Sullivan and Stuart E. Weiner, 2006. (PDF 451K) "Technology Adoption and Consumer Payments: Evidence from Survey Data," with Elizabeth Klee, Review of Network Economics, Vol. 2, Issue 2 - June 2003. "A Guide to the ATM and Debit Card Industry," with Richard J. Sullivan and Stuart E. Weiner, 2003. (PDF 452K) |
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Federal Reserve Bank of Kansas City Economic Review articles |
"Do U.S. Consumers Really Benefit from Payment Card Rewards?" First Quarter 2009 (Summary | Article PDF 526K) "Interchange Fees in Australia, the UK, and the United States: Matching Theory and Practice," with Stuart E. Weiner, Third Quarter 2006. (Summary | Article PDF 173K) |
"Product Innovation and Network Survival in the U.S. ATM and Debit Card Industry," with Zhu Wang, December 2008. (PDF, 470K) "The Economics of Payment Card Fee Structure: Policy Considerations of Payment Card Rewards" RWP 08-08. (PDF 993K | Abstract) "The Economics of Payment Card Fee Structure: What Drives Payment Card Rewards?" RWP08-07 (PDF 1,143K | Abstract) "The Economics of Payment Card Fee Structure: What is the Optimal Balance Between Merchant Fee and Payment Card Rewards?" RWP 08-06. (PDF 1,041K | Abstract) "Pricing and Welfare Implications of Payment Card Network Competition" 2006. (PDF, 305K) "Payment Card Rewards Programs and Consumer Payment Choice," with Andrew Ching, 2006. (PDF, 391K) "Network Competition and Merchant Discount Fee" 2005. (PDF, 496K) "Competition and Credit and Debit Card Interchange Fees: A Cross-Country Analysis," with Stuart E. Weiner, 2005. (PDF, 229K) "A Puzzle of Card Payment Pricing: Why Are Merchants Still Accepting Card Payments" 2004. (PDF, 229K) "Community Bank Access to Payment Card Networks: Has It Become More Expensive?" 2003. (PDF, 444K) "Technology Adoption and Consumer Payments: Evidence from Survey Data," with Elizabeth Klee, 2002. "A Guide to the ATM and Debit Card Industry," with Richard J. Sullivan and Stuart E. Weiner, 2003. (PDF 452K) |
"Complex Landscapes: Mobile Payments in Japan, South Korea, and the United States," with Terri R. Bradford, PSR Briefing September 2007, (PDF 740K) "A Guide to the ATM and Debit Card Industry: 2006 Update," with Richard J. Sullivan and Stuart E. Weiner, TEN Spring 2007. (PDF 302K) "Charging Toward Rewards," TEN Fall 2006 (PDF 210K) "As Payments Go Plastic," TEN Summer 2006 (PDF 103K) |
"Consumer Bill Payment: Will Electronic Bill Payments Continue to Grow?" with Andrew Ching [coming soon] |
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