the determinants of household debt holding and to investigate whether or not credit constraints are important for … household debt holding. We extend the existing literature in important ways. First, we present comparative evidence for four … countries at the micro level, where we rely on household panel data for two countries; we are thus able to control for …

Can the risk of losses upon premature liquidation produce bank runs? We show how a unique run equilibrium driven by … asset liquidity risk arises even under minimal fundamental risk. To study the role of illiquidity we introduce realistic … not available in a run, asset liquidity risk has a concave effect on run incentives, quite unlike fundamental risk. Runs …

that is explained by greater credit availability for riskier borrowers and the expansion of branching networks in areas …

asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem … of low quality, i.e. high risk, loans and therefore reduces the risk of the bank loan portfolio. However, CVaR regulation … distorts the operation of credit markets. We show that a binding CVaR constraint introduces credit rationing and lowers social …

consuming less reveals that gender differences in infection risk aversion and precautionary saving motives are small. I find …

to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the … household consumed permanently at the poverty line. The results indicate that vulnerability is very sensitive to the time …