search query: @author Roberds, W. / total: 5
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| Author: | McAndrews, J. Roberds, W. |
| Title: | A general equilibrium analysis of check float |
| Journal: | Journal of Financial Intermediation
1999 : OCT, VOL. 8:4, p. 353-377 |
| Index terms: | FINANCIAL INTERMEDIARIES EQUILIBRIUM THEORY ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | Households and businesses in the U.S. prefer the use checks over less costly means of payment. Earlier studies have focused on check "float" as an explanation for the continued popularity of this seemingly inefficient technology. The authors construct a general equilibrium model of check payment and show that the presence of float does not necessarily lead to inefficiency. However, the authors also identify two potential sources of inefficiency associated with check float. |
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