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2005 Conference
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Foreword
THOMAS M. HOENIG
President, Federal Reserve Bank of Kansas City
The Contributors
Conference Summary
Authors:
BARBARA PACHECO
Senior Vice PresidentRICHARD SULLIVAN
Senior Economist
Conference Overview
Author:
HENDRIK J. BROUWER
Executive Director
Paper: Conference Overview: Issues to be Raised
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Interchange Fees in Various Countries: Developments and Determinants
Authors:
STUART E. WEINER
Vice President and Director of Payments System Research,
Federal Reserve Bank of Kansas City
JULIAN WRIGHT
Associate Professor, National University of Singapore
Paper: Interchange Fees in Various Countries: Developments and Determinants
Discussant:
General DiscussionALAN S. FRANKEL
Senior Vice President, Lexecon
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Economic Rationale for Interchange Fees
Authors:
Paper: The Economics of Interchange Fees and Their Regulation: An OverviewDAVID S. EVANS
Vice Chairman, LECG EuropeRICHARD SCHMALENSEE
Dean, Sloan School of Management, Massachusetts Institute of Technology
Discussants:
MICHAEL L. KATZ
Professor, Haas School of Business, University of California, Berkeley
JEAN-CHARLES ROCHET
Professor, University of Toulouse
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Luncheon Address
LLOYD CONSTANTINE
Chairman, Constantine Cannon PC
Interchange Fees: Network, Issuer, Acquirer, and Merchant Perspectives
Moderator:
AVIVAH LITANPanelists:
Vice President and Research Director, Gartner Research
XAVIER R. DURIEUé GABEIRAS
Secretary General, EuroCommerceJOS
Chairman of the Board, ServiRed
JOHN GOVE
Director, TransAction Resources Pty Ltd
B.J. HAASDIJK
Chief Executive Officer, Interpay
WILLIAM SHEEDY
Executive Vice President, Visa U.S.A.
SUSAN WEBB
Executive Vice President, J.P. Morgan Chase
Panel Remarks: Interchange Fees: Network, Issuer, Acquirer, and Merchant Perspectives
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Keynote Address
NOAH J. HANFT
General Counsel and Corporate Secretary, MasterCard International
Interchange Fees: Antitrust and Regulatory Perspectives
Moderator:
DAVID A. BALTO
Partner, Robins, Kaplan, Miller & Ciresi L.L.P.
Panelists:
BERNARD FRIESS
Head of Financial Services Division, Competition Directorate-General, European CommissionRENATA B. HESSE
Chief, Networks and Technology, U.S. Department of JusticeDAVID TEAL
Senior Competition Law Officer, Competition Bureau of CanadaJOHN VICKERS
Chairman of the Board, Office of Fair Trading
Panel Remarks: Interchange Fees: Antitrust and Regulatory Perspectives
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Interchange Fees: Central Bank Perspectives and Options
THOMAS M. HOENIG
President and Chief Executive Officer, Federal Reserve Bank of Kansas CityPHILIP LOWE
Assistant Governor, Reserve Bank of AustraliaGUILLERMO ORTÍZ
Governor, Bank of MexicoGERTRUDE TUMPEL-GUGERELL
Member of the Executive Board, European Central Bank