On September 20 and 21, 2007, the Payment Cards Center and the Research Department of the Federal Reserve Bank of Philadelphia co-sponsored the fourth conference in a series of joint research initiatives focusing on emerging issues in consumer credit and payments. Entitled “Recent Developments in Consumer Credit and Payments,” the conference brought together Federal Reserve and academic scholars to present and discuss the latest research in these fields.
Charles Plosser, president of the Federal Reserve Bank of Philadelphia, welcomed participants on Friday morning. Focusing the audience’s attention on the rapid innovation and growth in consumer credit markets over the past 15 to 20 years, President Plosser set the stage for ensuing discussions by addressing the impact of payment system changes and the evolution of financial systems on consumer credit and behavior.
The conference’s call for papers attracted more than 100 high-quality submissions, from which six papers were selected for their originality and scholarship.
The full program agenda and copies of the papers are available at the conference website. A summary of the conference will be published in a forthcoming issue of the Research Department’s Business Review and on the Payment Cards Center’s website.
Discussants included, in order, Paige Marta Skiba, Vanderbilt University Law School; Kartik Athreya, Federal Reserve Bank of Richmond; Nicholas Souleles, University of Pennsylvania; Annamaria Lusardi, Dartmouth College; Anne Villamil, University of Illinois; and Brent Ambrose, Pennsylvania State University
Conference presenters (left to right): Borghan Narajabad, Rice University; Barry Scholnick, University of Alberta; Jonathan Levin, Stanford University; James Vickery, Federal Reserve Bank of New York; Ronel Elul, Federal Reserve Bank of Philadelphia; and John C. Driscoll, Board of Governors of the Federal Reserve System.
Conference discussants (left to right): Brent Ambrose, Penn State University; Anne Villamil, University of Illinois; Paige Marta Skiba, Vanderbilt University Law School; Nicholas Souleles, University of Pennsylvania; Kartik Athreya, Federal Reserve Bank of Richmond; and Annamaria Lusardi, Dartmouth College.