Sujit  Chakravorti

Sujit  Chakravorti

(312) 322-8473
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Sujit 'Bob' Chakravorti formerly was a senior economist in the financial markets and banking group at the Federal Reserve Bank of Chicago.

Chicago Fed Letter

Economic Perspectives

Occasional Papers

Policy Discussion Papers

Working Papers

Academic Journals

With Gene Amromin, 2009, Whither loose change?: The diminishing demand for small denomination currency, Journal of Money, Credit and Banking, forthcoming.

With Ted To, 2007, A theory of credit cards, International Journal of Industrial Organization, Vol. 25, pp. 583–593, available at the Science Direct website.

With Roberto Roson, 2006, Platform competition in two-sided markets: The case of payment networks, Review of Network Economics, Vol. 5, No. 1, pp. 118–142, avalaible at the journal's website.

Guest Editor, 2005, Symposium issue: Federal Reserve Bank of Chicago 2005 Payments Conference, Journal of Payment Systems Law, Vol. 1, No. 6, October.

With Carrie Jankowski, 2005, Forces shaping the payments environment: A Summary of the Chicago Fed’s 2005 Payments Conference,” Journal of Payment Systems Law, Vol. 1 No. 6, October, pp. 503–523.

With Emery Kobor, 2005, Why invest in payments innovations?, Journal of Payment Systems Law, Vol. 1, No. 4, June, pp. 331–353.

2003, Theory of credit card networks: A survey of the literature, Review of Network Economics, Vol. 2, No. 2, June, pp. 50–68, available at the journal's website.

With Alpa Shah, 2003, Underlying incentives in credit card networks, The Antitrust Bulletin, Vol. 48, No. 1, Spring, pp. 53–75.

With William Emmons, 2003, Who pays for credit cards?, Journal of Consumer Affairs, Vol. 37, Winter, pp. 208–230, abstract and additional information available online.

2000, Analysis of systemic risk in multilateral net settlement systems, Journal of International Financial Markets, Institutions and Money, Vol. 10, February, pp. 9–30, available at the Science Direct website.

Book Chapters

In Sumit Agarwal and Brent Ambrose (eds.), 2007, Linkages between consumer payments and credit, Household Credit Usage: Personal Debt and Mortgages, New York: Palgrave Macmillan, pp. 161–174.

In Stefan W. Schmitz and Geoffrey E. Wood (eds.), 2006, The evolving payments landscape and its implications for monetary policy, Institutional Change in the Payments System and Monetary Policy, London: Routledge, 81–92.

Conference Proceedings

2008, Nonbanks and risks in retail payments, discussion of Simoneta Rosatti and Stuart Weiner, Proceedings of the Payments and Monetary and Financial Stability Conference, hosted by the Bank of England and the European Central Bank, pp. 62–63.

With Subir Lall, 2007, Managerial incentives and financial contagion: A summary, Proceedings of the Risk Measurement and Systemic Risk: Fourth Joint Central Bank Research Conference, hosted by the Bank of Japan, the Board of Governors of the Federal Reserve System and the European Central Bank, April, pp. 68–73.

Trade Journals

With Wilko Bolt, 2008, The economics of payment cards: A status report, Electronic Commerce and Law Report, forthcoming.

With Victor Lubasi, 2007, The U.S. prepaid card market: A review, Journal of Payment Strategies and Systems, Vol. 1, No. 2, pp. 125–139.

2004, Why has stored value not caught on?, Journal of Financial Transformation, Vol. 12, pp. 39–48, available online.

With Alexandria Andreeff, Lisa Binmoeller, Eve Boboch, Oscar Cerda, Thomas Ciesielski and Edward Green, 2003, EBPP—Is it just a click away?, 2002, NACHA, Electronic Payments Journal, Vol. 1, No. 2, March–April, Vol. 1, No. 3–4, pp. 6–7, and NACM, Business Credit, Vol. 105, October, pp. 22–36.

Publications at Other Federal Reserve Banks

1998, Managing cross-border settlement risk: The case of Mexican ADRs, Federal Reserve Bank of Dallas, Financial Industry Studies, September, pp. 12–24, available at the FRB Dallas website.

1997, How do we pay?, Federal Reserve Bank of Dallas, Financial Industry Issues, First Quarter, available at the FRB Dallas website.

1997, Mexican payments system reforms, Federal Reserve Bank of Dallas, Financial Industry Studies, August, pp. 12–22, available at the FRB Dallas website.

Awards and Honors

  • Outstanding Performance Award, Federal Reserve Bank of Chicago, 1999, 2000, and 2004
  • Leadership in Public Policy Award, Federal Reserve Bank of Chicago, 2003
  • Significant Contributor to the Customer Focus Initiative Award, Federal Reserve Bank of Chicago, 2001

Unpublished Working Papers

1997, “Liquidity Differentials in a Simulated Foreign Exchange Market,” Financial Industry Studies, Federal Reserve Bank of Dallas, working paper, No. 3-97, August.

Journal Referee

European Journal of Operations Research
International Journal of Central Banking
International Journal of Industrial Organization
Journal of Banking and Finance
Journal of Economic Dynamics and Control
Journal of Economics and Management Strategy
Journal of International Financial Markets, Institutions and Money 
Journal of Money, Credit and Banking
Journal of Regulatory Economics
Quarterly Journal of Business and Economics
Rand Journal of Economics
Review of Economics and Statistics
Review of Network Economics
Scottish Journal of Political Economy 

Conference Presentations

Academic

Payment Markets: Theory, Evidence and Policy, University of Granada and Federal Reserve Bank of Chicago, Granada, Spain, 2010
The Economics and Regulation of Credit Card Interchange Fees, ICLE and Mercatus Center, Washington, DC, 2010
Federal Reserve System Applied Microeconomics Conference, 2008, 2010
The Economics of Payments I-IV Federal Reserve Banks of Atlanta and New York, 2004, 2006, 2008, 2010
The Law and Economics of Interchange Fees and Credit Card Markets, a blog symposium, 2009
Federal Reserve Board, Washington, DC, 2009
The Changing Retail Payments Landscape: What Role for Central Banks?, Federal Reserve Bank of Kansas City, Kansas City, MO, 2009
Retail Payments: Integration and Innovation, European Central Bank, Frankfurt, Germany, 2009
American Economic Association Meetings (organized session), San Francisco, CA 2009
Bank of Mexico, Mexico City, Mexico, 2008
Workshop on Payment Economics: Theory and Policy, Bank of Canada, Ottawa, Canada, 2008
Research Conference on Payment Systems, Norges Bank, Oslo, Norway, 2008
University of Granada, Granada, Spain, 2008
The Market for Retail Financial Services: Development, Integration and Economic Effects, sponsored by European Central Bank, Prague, Czech Republic, 2008
Visiting Scholar Seminar, De Nederlandsche Bank, Amsterdam, the Netherlands, 2008
North American Economic and Finance Association Meetings, 2003, 2008
Payments and Monetary and Financial Stability Conference, Bank of England and European Central Bank, Frankfurt, Germany, 2007
International Atlantic Society Meetings, Savannah, GA, 2007
Federal Reserve Bank of New York, New York, 2007
Bank of England, London, England, 2005, 2007
9th Annual Research Conference: Recent Developments in Payment Economics, De Nederlandsche Bank, Amsterdam, the Netherlands, 2006
Consumer Behavior and Payment Choice, Federal Reserve Bank of Boston, Boston, MA, 2006
Midwest Finance Association Meetings, Chicago, 2006
Federal Reserve Committee on Financial Structure and Regulation, 1998, 2000, 2004, 2006
4th Joint Central Bank Conference, European Central Bank, Federal Reserve Board, and Bank of Japan, Frankfurt, Germany, 2005
Competition and Efficiency in Payment and Security Settlement Systems, Bank of Finland and CEPR, Helsinki, Finland 2005
The Economics Antitrust Activity in Card-Based Payment Systems: Causes and Consequences, Federal Reserve Bank of New York, New York, 2005
Austrian National Bank, Vienna, Austria, 2004
Institutional Change in the Payments System and Implications for Monetary Policy, Austrian Academy of Sciences, Vienna, Austria, 2004
International Bond and Debt Market Integration, Trinity College, Dublin, Ireland, 2004
International Industrial Organization Conference, Chicago, 2004
The Economics of Two-Sided Markets, University of Toulouse, Toulouse, France, 2004
The Economics of Payment Networks, University of Toulouse, Toulouse, France, 2002
Reserve Bank of Australia, Sydney, Australia, 2002
School of Business, University of Melbourne, Melbourne, Australia, 2002
Conference on Innovation in Financial Services and Payments, Federal Reserve Bank of Philadelphia, Philadelphia, PA, 2002
Federal Reserve Committee on International Economic Analysis, New Orleans, LA, 2001
Helsinki Conference on Antitrust Issues in Network Industries, Helsinki, Finland, 2001
Western Economic Association Meetings, 1997, 2000, 2001
Australasian Finance and Banking Conference, Sydney, Australia, 2000
European University Institute, Florence, Italy, 2000
Symposium on Electronic Payment Systems, University of Michigan, Ann Arbor, MI, 1999
Federal Reserve Bank of Cleveland, Cleveland, OH, 1998
Federal Reserve Bank of St. Louis, St. Louis, MO, 1994, 1996
Federal Reserve Board and JMCB Payment System Conference, Washington DC, 1995

Industry

UBS Electronic Payment Summit, New York, 2003, 2004, 2010
Members United Corporate Federal Credit Union’s Operations Outlook Conference, Lisle, IL, 2009
Midwest Acquirers Association Meetings, Lombard, IL, 2009
Network Branded Prepaid Card Association, teleconference, 2009
Chicago Fed Payments Conference, Chicago, 2003-09
Discover Merchant Advisory Council, Chicago, 2006
Michigan State University Federal Credit Union Board of Directors Meeting, Chicago, 2006
Sun/Misys Executive Payments Forum, New York, 2006
2005 Bank Card Forum, Memphis, TN, 2005
BAI TransPay, Las Vegas, NV, 2004
Payment Card Center, Federal Reserve Bank of Philadelphia, Philadelphia, PA, 2003, 2004
Credit Card Regulation Forum, Melbourne, Australia, 2002
Pension Fund and Fund Managers Meeting, Dallas, TX, 2000

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