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Payment Choice and the Future of Currency: Insights from Two Billion Retail Transactions
Wang, Zhu; Wolman, Alexander L. - Federal Reserve Bank of Richmond - 2014
This paper uses transaction-level data from a large discount chain together with zip-code-level explanatory variables to learn about consumer payment choices across size of transaction, location, and time. With three years of data from thousands of stores across the country, we identify...
Persistent link: https://www.econbiz.de/10010758368
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The macroeconomics of US consumer bankruptcy choice : chapter 7 or chapter 13?
Li, Wenli (contributor); Sarte, Pierre-Daniel (contributor) - 2002 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001717052
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Fresh start or head start? : Uniform bankruptcy exemptions and welfare
Athreya, Kartik B. (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001758865
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Personal bankruptcy of public insurance?
Athreya, Kartik B. (contributor);  … - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001886354
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Loan guarantees for consumer credit markets
Athreya, Kartik B.; Tam, Xuan S.; Young, Eric R. - Federal Reserve Bank of Richmond - 2011
Loan guarantees are arguably the most widely used policy intervention in credit markets, especially for consumers. This may be natural, as they have several features that, a priori, suggest that they might be particularly effective in improving allocations. However, despite this, little is...
Persistent link: https://www.econbiz.de/10009320869
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Optimal personal bankruptcy design : A Mirrlees approach
Grochulski, Borys - Federal Reserve Bank of Richmond - 2008
In this paper, we develop a normative theory of unsecured consumer credit and personal bankruptcy based on the optimal … unsecured debts in bankruptcy. The structure of this equilibrium and the associated restrictions on debt discharge closely match … the main qualitative features of personal credit markets and bankruptcy law that actually exist in the United States. …
Persistent link: https://www.econbiz.de/10005717282
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Are harsh penalties for default really better?
Athreya, Kartik B.; Tam, Xuan S.; Young, Eric R. - Federal Reserve Bank of Richmond - 2009
How might society ensure the allocation of credit to those who lack meaningful collateral? Two very different options that have each been pursued by a variety of societies through time and space are (i) relatively harsh penalties for default and, more recently, (ii) loan guarantee programs that...
Persistent link: https://www.econbiz.de/10005009950
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On the optimality of Ramsey taxes in Mirless economies
Grochulski, Borys - Federal Reserve Bank of Richmond - 2010
personal bankruptcy to obtain insurance. Taxes are levied to fund government expenditures. An optimal tax system consists of …
Persistent link: https://www.econbiz.de/10008764358
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A quantitative theory of information and unsecured credit
Athreya, Kartik; Tam, Xuan S.; Young, Eric R. - Federal Reserve Bank of Richmond - 2011
) rising bankruptcy rates and discharge in bankruptcy, (4) rising dispersion in interest rates across households, and (5) the …
Persistent link: https://www.econbiz.de/10005387445
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The anatomy of U.S. personal bankruptcy under Chapter 13
Eraslan, Hülya; Li, Wenli; Sarte, Pierre-Daniel G. - Federal Reserve Bank of Richmond - 2007
By compiling a novel dataset from bankruptcy court dockets recorded in Delaware between 2001 and 2002, we build and … estimate a structural model of Chapter 13 bankruptcy. This allows us to quantify how key debtor characteristics, including … whether they are experiencing bankruptcy for the first time, their past due secured debt at the time of filing, and income in …
Persistent link: https://www.econbiz.de/10004993867