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The Time-Inconsistency Factor: How Banks Adapt to their Mix of Savers

Szafarz, Ariane; Laureti, Carolina - Centre Emile Bernheim, Solvay Brussels School of … - 2012

ready to forgo interest on rigid – or commitment – savings accounts to discipline their future selves. On the other, our … stylized facts from Bangladesh show that microfinance institutions pay a premium on commitment savings with respect to flexible … savings. To address this puzzle, we build an equilibrium model in which a monopolistic bank offers flexible and commitment …

Persistent link: https://www.econbiz.de/10010741971

Flexible Products in Microfinance: Overcoming the Demand-Supply Mismatch

Szafarz, Ariane; Labie, Marc; Laureti, Carolina - Centre Emile Bernheim, Solvay Brussels School of … - 2013

The success of microfinance rests upon product simplicity, standardization, and the capacity to stimulate client discipline. However, poor people desperately need flexible financial products to improve their day-to-day money management and cope with shocks. This paper discusses how microfinance...

Persistent link: https://www.econbiz.de/10010752708

Having it Both Ways: A Theory of the Banking Firm with Time-Consistent and Time-Inconsistent Depositors

Szafarz, Ariane; Laureti, Carolina - Centre Emile Bernheim, Solvay Brussels School of … - 2014

Our equilibrium model determines the liquidity premium offered by a monopolistic bank to a pool of depositors made up of time-consistent and time-inconsistent agents. Time-consistent depositors demand compensation for illiquidity, whereas time-inconsistent ones are willing to forgo interest on...

Persistent link: https://www.econbiz.de/10010775662