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Meet the Researchers

Photo of Mark D. Manuszak

Mark D. Manuszak

Deputy Associate Director Program Direction Section Reserve Bank Operations and Payment Systems
202-721-4509
[email protected]

Education

  • Ph.D., Economics, Northwestern University, 2000
  • B.A., International Economics, Georgetown University, 1994
Current Research Topics
  • Payments innovation
  • Payment cards and interchange fees
  • Deputy Associate Director

    Board of Governors of the Federal Reserve System

    2021 - present
  • Assistant Director and Chief, Payment System Studies Section

    Board of Governors of the Federal Reserve System

    2019 - 2020
  • Chief, Payment System Studies Section

    Board of Governors of the Federal Reserve System

    2016 - 2019
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2015 - 2016
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2010 - 2015
  • Economist

    Board of Governors of the Federal Reserve System

    2005 - 2010
  • Assistant Professor of Economics

    Carnegie Mellon University

    2000 - 2005
  • Kay, Benjamin S., Mark D. Manuszak, and Cindy M. Vojtech (2018). "Competition and Complementarities in Retail Banking: Evidence from Debit Card Interchange Regulation," Journal of Financial Intermediation, vol. 34, pp. 91-108.
  • Rosenbaum, Aaron, Garth Baughman, Mark Manuszak, Kylie Stewart, Fumiko Hayashi, and Joanna Stavins (2017). "Faster Payments: Market Structure and Policy Considerations," Research Working Paper, no. 17-14. Federal Reserve Bank of Kansas City.
  • Rosenbaum, Aaron, Garth Baughman, Mark Manuszak, Kylie Stewart, Fumiko Hayashi, and Joanna Stavins (2017). "Faster Payments: Market Structure and Policy Considerations," Finance and Economics Discussion Series 2017-100. Board of Governors of the Federal Reserve System (U.S.).
  • Manuszak, Mark D., and Krzysztof Wozniak (2017). "The Impact of Price Controls in Two-sided Markets: Evidence from US Debit Card Interchange Fee Regulation," Finance and Economics Discussion Series 2017-074. Board of Governors of the Federal Reserve System (U.S.).
  • Rosenbaum, Aaron, Garth Baughman, Mark Manuszak, Kylie Stewart, Fumiko Hayashi, and Joanna Stavins (2017). "Faster Payments: Market Structure and Policy Considerations," Current Policy Perspectives, no. 17-4. Federal Reserve Bank of Boston.
  • Kay, Benjamin S., Mark D. Manuszak, and Cindy M. Vojtech (2014). "Bank Profitability and Debit Card Interchange Regulation: Bank Responses to the Durbin Amendment," Finance and Economics Discussion Series 2014-77. Board of Governors of the Federal Reserve System (U.S.).
  • Cohen, Andrew, and Mark Manuszak (2013). "Ratings Competition in the CMBS Market," Journal of Money, Credit and Banking, vol. 45, no. 1, pp. 93-119.
  • Manuszak, Mark D. (2010). "Predicting the Impact of Upstream Mergers on Downstream Markets with an Application to the Retail Gasoline Industry," International Journal of Industrial Organization, vol. 28, no. 1, pp. 99-111.
  • Manuszak, Mark D., and Charles C. Moul (2009). "How Far for a Buck? Tax Differences and the Location of Retail Gasoline Activity in Southeast Chicago Land," The Review of Economics and Statistics, vol. 91, no. 4, pp. 744-765.
  • Prager, Robin A., Mark D. Manuszak, Elizabeth K. Kiser, and Ron Borzekowski (2009). "Interchange Fees and Payment Card Networks: Economics, Industry Developments, and Policy Issues," Finance and Economics Discussion Series 2009-23. Board of Governors of the Federal Reserve System (U.S.).
  • Zhu, Ting, Vishal Singh, and Mark D. Manuszak (2009). "Market Structure and Competition in the Retail Discount Industry," Journal of Marketing Research, vol. 46, no. 4, pp. 453-466.
  • Manuszak, Mark D., and Charles C. Moul (2008). "Prices and Endogenous Market Structure in Office Supply Superstores," Journal of Industrial Economics, vol. 56, no. 1, pp. 94-112.
  • Das, Sanghamitra, Charles F. Manski, and Mark D. Manuszak (2005). "Walk or Wait? an Empirical Analysis of Street Crossing Decisions," Journal of Applied Econometrics, vol. 20, no. 4, pp. 529-548.
  • Manuszak, Mark D., and Andrew Cohen (2004). "Endogenous Market Structure with Discrete Product Differentiation and Multiple Equilibria: An Empirical Analysis of Competition between Banks and Thrifts," GSIA Working Papers 2003-40. Carnegie Mellon University, Tepper School of Business.
  • Manuszak, Mark D. (2002). "Endogenous Market Structure and Competition in the 19th Century American Brewing Industry," International Journal of Industrial Organization, vol. 20, no. 5, pp. 673-692.
  • Manuszak, Mark D. (2000). "Firm Conduct in the Hawaiian Retail Gasoline Industry," GSIA Working Papers 2003-38. Carnegie Mellon University, Tepper School of Business.
  • Manuszak, Mark D. (2000). "Product Differentiation, Competition and Prices," Ph.D. dissertation, Northwestern University.
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Last Update: December 1, 2023