Details about Zhu Wang

Access statistics for papers by Zhu Wang.

Last updated 2025-04-24. Update your information in the RePEc Author Service.

Short-id: pwa247

Working Papers

2025

1. Two-sided platforms and the 6 percent real estate broker commission
   Working Paper, Federal Reserve Bank of Richmond

2024

2. Real Estate Commissions and Homebuying
   Working Paper, Federal Reserve Bank of Richmond

2021

3. Technology Adoption and Leapfrogging: Racing for Mobile Payments
   Working Paper, Federal Reserve Bank of Richmond View citations (1)

2020

4. Idea Diffusion and Property Rights
   Working Paper, Federal Reserve Bank of Richmond
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (1)

2019

5. Two-sided Market, R&D and Payments System Evolution
   Working Paper, Federal Reserve Bank of Richmond View citations (3)

2017

6. Should Platforms be Allowed to Charge Ad Valorem Fees?
   Working Paper, Federal Reserve Bank of Richmond

2015

7. Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
   Working Paper, Federal Reserve Bank of Richmond View citations (3)
   See also Journal Article Innovation, Deregulation, and the Life Cycle of a Financial Service Industry, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2017) View citations (9) (2017)

2014

8. Payment Choice and the Future of Currency: Insights from Two Billion Retail Transactions
   Working Paper, Federal Reserve Bank of Richmond View citations (13)

2013

9. Competitors, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (1)
   Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics (2013) View citations (1)
   Working Paper, Federal Reserve Bank of Richmond (2013)
   See also Journal Article Competitor, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2018) View citations (15) (2018)
10. Demand externalitites and price cap regulation: Learning from a two-sided market
    Working Paper, Federal Reserve Bank of Richmond View citations (3)
11. Internet banking: an exploration in technology diffusion and impact
    Working Paper, Federal Reserve Bank of Richmond View citations (5)
    Also in Payments System Research Working Paper, Federal Reserve Bank of Kansas City (2005) View citations (16)
12. Spin-offs: Theory and Evidence from the Early U.S. Automobile Industry
    2013 Meeting Papers, Society for Economic Dynamics View citations (2)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2008) View citations (15)

2012

13. Ad-valorem platform fees and efficient price discrimination
    Working Paper, Federal Reserve Bank of Richmond View citations (2)
14. The Determinants of Geographic Concentration of Industry: A Quantitative Analysis
    2012 Meeting Papers, Society for Economic Dynamics
15. The economics of two-sided payment card markets: pricing, adoption and usage
    Working Paper, Federal Reserve Bank of Richmond View citations (5)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2008) View citations (16)

2011

16. Product Innovation and Network Survival in the U.S. ATM and Debit Card Industry
    2011 Meeting Papers, Society for Economic Dynamics View citations (2)

2008

17. Market structure and credit card pricing: what drives the interchange?
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (6)
18. Network Effects and Geographic Concentration of Industry
    Working Papers, NET Institute
19. Product innovation and network survival in the U.S. ATM and debit card network industry
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)
20. Why Do Payment Card Networks Charge Proportional Feeds?
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)
    See also Journal Article Why Do Payment Card Networks Charge Proportional Fees?, American Economic Review, American Economic Association (2011) View citations (43) (2011)

2006

21. Learning, diffusion and the industry life cycle
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (12)
22. Microfoundations of two-sided markets: the payment card example
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (8)
23. Technology Innovation and Market Turbulence: A Dotcom Example
    2006 Meeting Papers, Society for Economic Dynamics

2005

24. Technological innovation and market turbulence: the dot-com experience
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)
    See also Journal Article Technological Innovation and Market Turbulence: The Dot-com Experience, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2007) View citations (14) (2007)

Journal Articles

2025

1. Rounding Up: The Impact of Phasing Out the Penny
   Richmond Fed Economic Brief, 2025, 25, (27)

2024

2. Opinion: Artificial Intelligence: Potentials and Prospects
   Econ Focus, 2024, 24, (3Q), 32
3. Real Estate Commissions and Home Search Efficiency
   Richmond Fed Economic Brief, 2024, 24, (08)

2023

4. Innovation, Diffusion and Intellectual Property Rights
   Richmond Fed Economic Brief, 2023, 23, (23)
5. Removing Conflict of Interest for Agents of Homebuyers
   Richmond Fed Economic Brief, 2023, 23, (34)

2022

6. A Historical Perspective on Digital Currencies
   Richmond Fed Economic Brief, 2022, 22, (21)
7. Are There Compelling Reasons to Consider a Central Bank Digital Currency for the U.S.?
   Richmond Fed Economic Brief, 2022, 22, (20)

2021

8. Should the Fed Issue Digital Currency?
   Richmond Fed Economic Brief, 2021, 21, (10)
9. Why Is the U.S. Lagging in Adopting Mobile Payments?
   Richmond Fed Economic Brief, 2021, 21, (21)

2020

10. Technology Diffusion: The Case of Internet Banking
    Economic Quarterly, 2020, (1Q), 19-40

2018

11. Competitor, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry
    Review of Economic Dynamics, 2018, 30, 1-29 View citations (15)
    See also Working Paper Competitors, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry, NBER Working Papers (2013) View citations (1) (2013)
12. The Decline in Currency Use at a National Retail Chain
    Economic Quarterly, 2018, (2Q), 53-77
13. Why Do Platforms Use Ad Valorem Fees? Evaluating Two Alternative Explanations
    Economic Quarterly, 2018, (4Q), 153-171

2017

14. Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
    Review of Economic Dynamics, 2017, 26, 180-203 View citations (9)
    See also Working Paper Innovation, Deregulation, and the Life Cycle of a Financial Service Industry, Working Paper (2015) View citations (3) (2015)
15. What Two Billion Retail Transactions Reveal about Consumers’ Choice of Payments
    Richmond Fed Economic Brief, 2017, (April)

2016

16. Consumer Payment Choice in the Fifth District: Learning from a Retail Chain
    Economic Quarterly, 2016, (1Q), 51-78
17. Price cap regulation in a two-sided market: Intended and unintended consequences
    International Journal of Industrial Organization, 2016, 45, (C), 28-37 View citations (9)

2015

18. Did the Durbin Amendment Reduce Merchant Costs? Evidence from Survey Results
    Richmond Fed Economic Brief, 2015, (Dec)

2014

19. The Impact of the Durbin Amendment on Merchants: A Survey Study
    Economic Quarterly, 2014, (3Q), 183-208 View citations (1)

2013

20. Welfare Analysis of Debit Card Interchange Fee Regulation
    Richmond Fed Economic Brief, 2013, (Oct)
21. Why Do Debit Card Networks Charge Percentage Fees?
    Richmond Fed Economic Brief, 2013, (Feb)

2012

22. Debit card interchange fee regulation: some assessments and considerations
    Economic Quarterly, 2012, 98, (3Q), 159-182 View citations (11)
23. Explaining the car industry cluster: the case of U.S. car makers from 1895-1969
    Richmond Fed Economic Brief, 2012, (Oct) View citations (1)

2011

24. Why Do Payment Card Networks Charge Proportional Fees?
    American Economic Review, 2011, 101, (4), 1575-90 View citations (43)
    See also Working Paper Why Do Payment Card Networks Charge Proportional Feeds?, Research Working Paper (2008) View citations (2) (2008)

2010

25. Market structure and payment card pricing: What drives the interchange?
    International Journal of Industrial Organization, 2010, 28, (1), 86-98 View citations (19)
26. Regulating debit cards: the case of ad valorem fees
    Economic Review, 2010, 95, (Q I), 71-93 View citations (4)

2008

27. Income Distribution, Market Size and the Evolution of Industry
    Review of Economic Dynamics, 2008, 11, (3), 542-565 View citations (20)

2007

28. Nonbanks in the payments system: innovation, competition, and risk - a conference summary
    Economic Review, 2007, 92, (Q III), 83-106
29. Scale without mass: business process replication and industry dynamics - discussion
    Proceedings, 2007, (Nov)
30. Technological Innovation and Market Turbulence: The Dot-com Experience
    Review of Economic Dynamics, 2007, 10, (1), 78-105 View citations (14)
    See also Working Paper Technological innovation and market turbulence: the dot-com experience, Payments System Research Working Paper (2005) View citations (1) (2005)

2006

31. Online banking comes of age
    TEN, 2006, (Win), 22-25 View citations (3)