Biography
Joanna Stavins is a Senior Economist and Policy Advisor at the Federal Reserve Bank of Boston, where she focuses on payments issues. Her research includes all payment methods, such as paper and electronic checks, credit cards, and ACH, analyzing the costs of alternative payment instruments and the demand for those instruments, and estimating social costs and benefits of various payment methods. She is a member of the Emerging Payments Research Group at the Boston Fed, where her research focuses on understanding how and why consumers pay the way they do. She has conducted econometric analyses of pricing and market structure in several industries, including personal computers, airlines, and credit cards. Her publications include articles in the RAND Journal of Economics, The Review of Economics and Statistics, and Journal of Financial Services Research.She has served as an economic advisor to various payments groups, both within and outside the Federal Reserve System. She earned both her B.A. and her Ph.D. in economics from Harvard University. Prior to joining the Bank in 1995, she worked as a senior analyst at National Economic Research Associates and as a research assistant at the National Bureau of Economic Research.

Education

Ph.D., economics, Harvard University, 1993

M.A., economics, Tufts University, 1987

B.A., economics, Harvard University, Cum Laude, 1985

Work experience

Federal Reserve Bank of Boston

Senior Economist and Policy Advisor, 2006-
Senior Economist, 2001-2005
Economist, 1995-2001

 

National Economic Research Associates, Inc. (NERA)

Senior Analyst, 1993-1995

 

National Bureau of Economic Research (NBER)

Research Assistant, 1989-1993

 

Abt Associates, Inc.

Economic Analyst, 1987-1988

Publications

Refereed journal articles

“Network Externalities and Technology Adoption: Lessons from Electronic Payments,” with Gautam Gowrisankaran. RAND Journal of Economics. vol. 35, no. 2 (Summer 2004): 260-276.

“Price Discrimination in the Airline Market: The Effect of Market Concentration.” Review of Economics and Statistics. vol. 83, no. 1 (February 2001).

“The Effect of Pricing on Demand and Revenue in Federal Reserve ACH Payment Processing,” with Paul Bauer. Journal of Financial Services Research. vol. 16, no. 1 (1999).

“Estimating Demand Elasticities in a Differentiated Product Industry: The Personal Computer Market.” Journal of Economics and Business. vol. 49, (July/August 1997): 347-67.

“Model Entry and Exit in a Differentiated Product Industry: The Personal Computer Market.” The Review of Economics and Statistics. vol. 77, no. 4 (November 1995): 571-84.

Other journal articles

“Network Externalities in the Market for Electronic Check Payments.” New England Economic Review (2003).

“Perspective: Electronic Payments Networks Benefit Banks, Businesses, and Consumers. Why Do So Few Use Them?” Regional Review vol. 13, no. 1 (Quarter 1, 2003).

“Who Uses Electronic Check Products: A Look at Depository Institutions.” New England Economic Review (Third Quarter 2002).

“Perspective: While More People Are Paying Electronically, Many of Us Still Cling to Checks” Regional Review vol. 11, no. 4 (Quarter 4, 2001).

“Effect of Consumer Characteristics on the Use of Payment Instruments.” New England Economic Review (Issue Number 3, 2001).

“Issues in Economics: Has Widespread Use of Credit Cards Contributed to the Increase in Personal Bankruptcy?” Regional Review vol. 10, no. 4 (Quarter 4, 2000).

“Credit Card Borrowing, Deliquency, and Personal Bankruptcy.” New England Economic Review (July/August 2000).

“ATM Fees: Does Bank Size Matter?” New England Economic Review (January/February 2000).

“Checking Accounts: Fees and Features, Consumer Preferences, Impact on Bank Revenues.” New England Banking Trends (Fall 1999).

“Checking Accounts: What Do Banks Offer and What Do Consumers Value?” New England Economic Review (March/April 1999).

“Has Antitrust Policy in Banking Become Obsolete?” with Katerina V. Simons. New England Economic Review (March/April 1998).

“A Comparison of Social Costs and Benefits of Paper Check Presentment and ECP with Truncation.” New England Economic Review (July/August 1997).

“Can Demand Elasticities Explain Sticky Credit Card Rates?” New England Economic Review (July/August 1996).

“Firm Strategies in the Personal Computer Market: Are Established Brands Better Off?” New England Economic Review (November/December 1995).

Working papers and other unpublished papers

"Credit Card Debt and Payment Use". with Charles Sprenger. FRB Boston Working Papers Series, paper no. 08-2 (2008).

“Consumer Behavior and Payment Choice: 2006 Conference Summary,” with Margaret Carten, Dan Littman, and Scott Schuh. FRB Boston Public Policy Discussion Papers Series, paper no. 07-4 (2007).

“Consumer Behavior and Payment Choice: A Conference Summary,” with Marianne Crowe and Scott Schuh. FRB Boston Public Policy Discussion Papers Series, paper no. 06-1 (2006).

“Do Bank Mergers Affect Federal Reserve Check Volume?” FRB Boston Public Policy Discussion Papers Series, paper no. 04-7 (2004).

“Network Externalities and Technology Adoption: Lessons from Electronic Payments,” with Gautam Gowrisankaran. FRB Boston Series, paper no. 99-5 (1999).

“The Effect of Pricing on Demand and Revenue in Federal Reserve ACH Payment Processing,” with Paul Bauer. FRB Boston Series, paper no. 97-6 (1997).

“Price Discrimination in the Airline Industry: The Effect of Market Concentration.” FRB Boston Series, paper no. 96-7 (1996).

“Estimating Demand Elasticities in a Differentiated Product Industry: The Personal Computer Market.” FRB Boston Series, paper no. 95-9 (1995).

Public service

Referee: American Economic Review, Quarterly Journal of Economics, Review of Economics and Statistics, Review of Industrial Organization, Journal of Economics and Business, Economic Enquiry, Journal of Money, Credit, and Banking, Review of Network Economics, Southern Economic Journal