of a Dutch household survey on the European Central Bank’s transparency. To benefit from higher trans- parency …

model with heterogeneous entrepreneurs, imperfect credit markets and the risk of theft to account for this empirical pattern … transaction costs. The interaction between risk of theft and limited access to trade credit generates demand for mobile money as a … use of mobile money as a method to pay suppliers and access to trade credit. We develop a dynamic general equilibrium …

We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected … over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county … risk hazard regressions on the outcomes of the loans. We show that when the expected unemployment risk of households …

with formal savings practices, we find a significantly negative effect of saving within the household on the likelihood of …

While theory predicts different effects of household credit and enterprise credit on the economy, the empirical … growth whereas household credit has no effect; 2) enterprise credit reduces income inequality whereas household credit has no … effect; and 3) household credit is negatively associated with excess consumption sensitivity, while there is no relationship …

, we show that failure to cut interest rates during a crisis erodes financial stability by increasing the risk of bank runs. …

a general-form model with endogenous bank risk profiles. Policy rates affect both bank incentives to search for yield … shocks, cuts are deeper but shorter-lived than otherwise. Keeping cuts short is crucial as bank risk responds primarily to …

the incidence of credit rationing. Through its seniority effect, collateral may also affect banks’ incentives to monitor … explore this natural experiment to identify how collateral determines borrower quality, loan terms, access to credit and bank … their bank, and experience a substantial reduction in the supply of credit by their bank. Consistent with theories that …