Richard J. Sullivan
Senior Economist
Research Department
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, MO 64198
Email: Rick.J.Sullivan@kc.frb.org
| Economic Review articles | Speeches and presentations |
Curriculum vitae (PDF 50KB) |
Other Federal Reserve publications |
Richard J. Sullivan 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 1994, Mr. Sullivan
published studies on the role of nonbanks in the payments system, the
ATM and debit industry, the relationship between bank ownership
structure and performance, profitability in interstate banking, bank
lending to small business, and the impact of electronic banking on bank
performance. He is currently conducting research on implications of
recent changes in payments on payments system risk and determinants of a
bank's decision to adopt Internet banking.
Prior to joining the Federal Reserve Bank of Kansas City, Mr. Sullivan
taught at Holy Cross College and the University of Colorado. While
there, he conducted research that examined immigrant earnings and
unemployment, invention during the British industrial revolution, the
history of regional interest rates in the United States, and savings
behavior of immigrants. He received a B.S. in business
management from Northern Illinois University and a Ph.D. in economics
from the University of Illinois-Urbana.
"Nonbanks and Risk in Retail Payments: EU and U.S.," with Terri Bradford, Fumiko Hayashi, Christian Hung, Simonetta Rosati, Zhu Wang, and Stuart E. Weiner, Managing Information Risk and the Economics of Security, Eric M. Johnson, ed., Springer Publishing, forthcoming.
"Regulatory Changes and the Development of the U.S. Banking Market, 1870-1914: A Study of Profit Rates and Risk in National Banks," The Origin and Development of Financial Institutions and Markets, Cambridge University Press, forthcoming.
"Corporate Governance and Bank Performance," Corporate Governance in Banking: An International Perspective, B. Gup, ed., Edward Elgar, 2007, pp. 40-61.
"Manager Wealth Concentration, Ownership Structure, and Risk in Commercial Banks," with Kenneth R. Spong, Journal of Financial Intermediation, April 2007, pp. 229-48.
"A Guide to the ATM and Debit Card Industry: 2006 Update," with Fumiko Hayashi and Stuart E. Weiner, 2006. (PDF 452K)
"The Effect of Wealth and Ownership on Firm Performance," with Kenneth R. Spong, Journal of Financial Transformation, December 2005, pp. 39-47.
"Patents," The Oxford Encyclopedia of Economic History, J. Mokyr, ed., Oxford University Press, 2003.
"Investment in Internet Banking as a Real Option: Theory and Tests," with Marsha Courchane and David Nickerson, Journal of Multinational Financial Management, 12 (4-5), October-December 2002, pp. 347-63.
"Who's Minding the Store? Motivating and Monitoring Hired Managers at Small, Closely Held Commercial Banks, " with Robert DeYoung and Kenneth Spong, Journal of Banking and Finance, 25 (7), July 2001, pp. 1209-1242.
"Trends in the Agricultural Labor Force," The State of Humanity, J. Simon, ed., Basil Blackwell, 1995.
"Patent Counts and Textile Invention: A Comment on Griffiths, Hunt, and O'Brien," Journal of Economic History , 55 (3), September 1995, pp. 666-70.
"Estimates of the Value of Patent Rights in Great Britain and Ireland, 1852 -1876," Economica, 61, No. 241, February 1994, pp. 37-58.
"The Effect of Immigration Upon Aggregate Unemployment: An Across City Estimation," with Julian L. Simon and Stephen Moore, Journal of Labor Research, 14 (3), Summer 1993, pp. 299-316.
"The Revolution of Ideas: Widespread Patenting and Invention During the English Industrial Revolution." Journal of Economic History 50 (2), (June 1990), pp. 349-62.
"England's Age of Invention: The Acceleration of Patents and Patentable Invention During the Industrial Revolution," Explorations in Economic History, 26 (4), October 1989, pp. 424 - 52.
"More on Immigrants' Earnings Over Time," with Julian L. Simon, Genus 44, (1 - 2), (January - July 1989), pp. 157-175.
"Population Size, Knowledge Stock, and Other Determinants of Agricultural Publication and Patenting: England, 1541-1850," with Julian L. Simon, Explorations in Economic History, 26 (1), January 1989, pp. 21-45. Reprinted in Population and Development in Poor Countries, J. Simon, ed., Princeton University Press, 1992, pp. 334-59.
"The Timing and Pattern of Technological Development in English Agriculture, 1611-1850," The Journal of Economic History, 45 (2), (June 1985), pp. 305-314.
"Measurement of English Farming Technological Change, 1523-1900," Explorations in Economic History, 21 (3), July 1984, pp. 270-289.
Federal Reserve Bank of Kansas City Economic Review articles
"Can Smart Cards Reduce Payments Fraud and Identity Theft?" Third Quarter 2008 (Summary | Article PDF 219K)
"Nonbanks in the Payments System: Innovation, Competition, and Risk - A Conference Summary," with Zhu Wang, Third Quarter 2007. (Summary | Article PDF 109K)
"Risk Management and Nonbank Participation in the U.S. Retail Payments System," Second Quarter 2007. (Summary | Article PDF 161K)
"Interchange Fees in Credit and Debit Card Markets: What Role for Publics Authorities" - A Conference Summary," with Barbara Pacheco, First Quarter 2006. (Summary | Article PDF 219K)
"The Outlook for the U.S. Banking Industry: What Does the Experience of the 1980s and 1990s Tell Us?" with Kenneth Spong, Fourth Quarter 1999. (Summary | Article PDF 206K)
"Nonbanks and Risk in Retail Payments," with Terri Bradford, Fumiko Hayashi, Simonetta Rosati, Zhu Wang, and Stuart E. Weiner, Payments System Research Working Paper, 2007. (PDF 379K)
"The Supervisory Framework Surrounding Nonbank Participation in the U.S. Retail Payments System: An Overview," (PDF, 278K)
"Internet Banking: An Exploration in Technology Diffusion and Impact," with Zhu Wang, 2005. (PDF, 442K)
"Financial Innovations, Strategic Real Options and Endogenous Competition: Theory and an Application to Internet Banking," with David Nickerson, 2003. (PDF, 670K)
"A Guide to the ATM and Debit Card Industry: 2006 Update," with Fumiko Hayashi and Stuart E. Weiner, 2006. (PDF 451K)
"A Guide to the ATM and Debit Card Industry," with Fumiko Hayashi and Stuart E. Weiner, 2003. (PDF 905K)
"Performance and Operation of Commercial Bank Web Sites," Financial Industry Perspectives, December 2001. (PDF 102K)
"The 2001 Survey of Commercial Banks in the Tenth Federal Reserve District: Changes and Challenges," Financial Industry Perspectives, December 2001. (PDF 583K)
"How Has the Adoption of Internet Banking Affected Performance and Risk in Banks? A Look at Internet Banking in the Tenth Federal Reserve District," Financial Industry Perspectives, December 2000. (PDF 165K)
"How Does Ownership Structure and Manager Wealth Influence Risk?" A Look at Ownership Structure, Manager Wealth, and Risk in Commercial Banks," with Kenneth R. Spong, Financial Industry Perspectives, December 1998. (PDF 198K)
"Small Business Lending by Commercial Banks in Colorado, 1994-1996," with Richard D. Johnson, Ronnie J. Phillips, and Kenneth R. Spong, Financial Industry Perspectives, May 1998. (PDF 138K)
"What Makes a Bank Efficient?--A Look at Financial Characteristics and Bank Management and Ownership Structure," with Kenneth R. Spong and Robert DeYoung, Financial Industry Perspectives, December 1995. (PDF 208K)
"Successful Strategies in Interstate Bank Acquisitions," Financial Industry Perspectives, December 1995. (PDF 200K)
A Corporate Perspective on Nonbanks and Risk in Payments
October 20, 2008
Association for Financial Professionals 2008 Annual Conference
Los Angeles, CA (PDF 414K)
Nonbanks in the Payments System
Strategic Payments Forum, Charlotte, NC
April 23, 2008 (PDF 195K)
The ATM and Debit Card Industry: A View From the Fed
ATM, Debit, & Prepaid Forum, Las Vegas, Nevada
with Fumiko Hayashi and Stuart E. Weiner, October 4, 2006 (PDF,
104K)
Internet Banking: An Exploration in Technology Diffusion and Impact
NBER Summer Institute 2006 - Productivity Potpourri Workshop, Cambridge,
Massachusetts
with Zhu Wang, July 21, 2006 (PDF,
179K)
The Supervisory Framework Surrounding Nonbank Participation in the U.S.
Retail Payments System
Banking Industry Technology Secretariat, Kansas City, Missouri
August 5, 2005 (PDF,
179K)
"Understanding Risks Management in Emerging Retail Payments," with MIchele Braun, Jamie McAndrews, and William Robards, Economic Policy Review, Federal Reserve Bank of New York, September 2008. (PDF, 288K)