Non-parametric, unconditional quantile estimation for efficiency analysis with an application to Federal Reserve check processing operations

David Wheelock and Paul Wilson

No 2005-027, Working Papers from Federal Reserve Bank of St. Louis

Abstract: This paper examines the technical efficiency of U.S. Federal Reserve check processing offices over 1980?2003. We extend results from Park et al. (2000) and Daouia and Simar (2007) to develop an unconditional, hyperbolic, a-quantile estimator of efficiency. Our new estimator is fully non-parametric and robust with respect to outliers; when used to estimate distance to quantiles lying close to the full frontier, it is strongly consistent and converges at rate root-n, thus avoiding the curse of dimensionality that plagues data envelopment analysis (DEA) estimators. Our methods could be used by policymakers to compare inefficiency levels across offices or by managers of individual offices to identify peer offices.

Keywords: Check collection systems; Payment systems (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-fmk
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://research.stlouisfed.org/wp/more/2005-027/ (application/pdf)
http://research.stlouisfed.org/wp/2005/2005-027.pdf

Related works:
Journal Article: Non-parametric, unconditional quantile estimation for efficiency analysis with an application to Federal Reserve check processing operations (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlwp:2005-027

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Working Papers from Federal Reserve Bank of St. Louis Contact information at EDIRC.
Bibliographic data for series maintained by Scott St. Louis ().