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Unshrouding Effects on Demand for a Costly Add-on: Evidence from Bank Overdrafts in Turkey
Alan, Sule; Cemalcilar, Mehmet; Karlan, Dean S.; … - C.E.P.R. Discussion Papers - 2015
Models of shrouding predict that firms lack incentives to compete on add-on prices. Working with a large Turkish bank to test SMS direct marketing promotions to 108,000 existing checking account holders, we find that messages promoting a large discount on the overdraft interest rate reduce...
Persistent link: https://www.econbiz.de/10011168904
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Corporate Scandals and Household Stock Market Participation
Giannetti, Mariassunta; Wang, Tracey Yue - C.E.P.R. Discussion Papers - 2014
We show that after the revelation of corporate fraud in a state, the equity holdings of households in that state decrease significantly both in the extensive and the intensive margins. Using an exogenous shock to fraud detection and exogenous variation in households’ lifetime experiences of...
Persistent link: https://www.econbiz.de/10011084666
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You Can Pick Your Friends, But You Need to Watch Them: Loan Screening and Enforcement in a Referrals Field Experiment
Bryan, Gharad; Karlan, Dean S.; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2012
We examine a randomized trial that allows separate identification of peer screening and enforcement of credit contracts. A South African microlender offered half its clients a bonus for referring a friend who repaid a loan. For the remaining clients, the bonus was conditional on loan approval....
Persistent link: https://www.econbiz.de/10011083275
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Subprime Consumer Credit Demand: Evidence from a Lender's Pricing Experiment
Alan, Sule; Lóránth, Gyöngyi - C.E.P.R. Discussion Papers - 2012
Using a unique panel data set from a UK credit card company, we analyze the interest rate sensitivity of subprime credit card borrowers. In addition to all individual transactions and loan terms, we also have access to details of a randomized interest rate experiment conducted by the lender on...
Persistent link: https://www.econbiz.de/10011083560
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The Impact of Financial Education for Youth in Ghana
Berry, James; Karlan, Dean S.; Pradhan, Menno - C.E.P.R. Discussion Papers - 2015
offered financial education. Both programs included a voluntary after-school savings club that provided students with a locked … money box. After nine months, both programs had significant impacts on savings behavior relative to the control group …, mostly because children moved savings from home to school. We observed few other impacts. We do find that financial education …
Persistent link: https://www.econbiz.de/10011249377
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Trickle-Down Consumption
Bertrand, Marianne; Morse, Adair - C.E.P.R. Discussion Papers - 2015
Using state-level variation over time in the top deciles of the income distribution, we observe that non-rich households consume a larger share of their current income when exposed to a higher top income and consumption levels. We argue that permanent income, wealth effects, and upward local...
Persistent link: https://www.econbiz.de/10011196035
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Learning and Microlending
Drugov, Mikhail; Macchiavello, Rocco - C.E.P.R. Discussion Papers - 2008
borrowing and savings at unfavorable interest rates as well as the failure to undertake profitable and easily available …
Persistent link: https://www.econbiz.de/10005656410
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Financial Education and Access to Savings Accounts: Complements or Substitutes? Evidence from Ugandan Youth Clubs
Jamison, Julian C.; Karlan, Dean S.; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2014
Evidence on the effectiveness of financial education and formal savings account access is lacking, particularly for … shows the education plus account treatment increases bank savings relative to account-only. But survey-measured total … savings shows roughly equal increases across all treatment arms. Earned income also increases in all treatment arms. We find …
Persistent link: https://www.econbiz.de/10011084404
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Female Empowerment: Impact of a Commitment Savings Product in the Philippines
Ashraf, Nava; Karlan, Dean S.; Yin, Wesley - C.E.P.R. Discussion Papers - 2007
women. Here, using a randomized controlled trial, we examine whether access to an individually-held commitment savings …
Persistent link: https://www.econbiz.de/10005792103
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Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets
Black, Sandra; Devereux, Paul J.; Lundborg, Petter; … - C.E.P.R. Discussion Papers - 2015
We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....
Persistent link: https://www.econbiz.de/10011249373