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How successful are banking sector reforms in emerging market economies? : evidence from impact of monetary policy on levels and structures of firm debt in India
Bhaumik, Sumon Kumar; Kutan, Ali Mustafa; Majumdar, Sudipa - 2016
that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …
Persistent link: https://www.econbiz.de/10011493763
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The welfare effects of law enforcement in the illegal money lending market
Leong, Kaiwen; Li, Huailu; Pavanini, Nicola; Walsh, … - 2022
We estimate a structural model of borrowing and lending in the illegal money lending market using a unique panel survey of 1,090 borrowers taking out 11,032 loans from loan sharks. We use the model to evaluate the welfare effects of alternative law enforcement strategies. We find that a large...
Persistent link: https://www.econbiz.de/10013262951
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Reflections on the US college loans system : lessons from Australia and England
Barr, Nicholas A.; Chapman, Bruce James; Dearden, Lorraine - 2018
There is wide agreement the US student loan system faces significant problems. Seven million borrowers are in default and many more experience non-repayment. The stress of repayments faced by many students results at least in part from the design of US student loans. Specifically, loans are...
Persistent link: https://www.econbiz.de/10011820067
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Personal bankruptcy law, wealth and entrepreneurship : theory and evidence from the introduction of a "fresh start"
Fossen, Frank M. - 2011
A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy, lenders may charge higher interest rates or...
Persistent link: https://www.econbiz.de/10009126032
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Multitasking and subjective performance evaluations : theory and evidence from a field experiment in a bank
Manthei, Kathrin; Sliwka, Dirk - 2018
experiment conducted in a bank. In the treatment group managers obtained access to objective performance measures which raised …
Persistent link: https://www.econbiz.de/10011871952
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Gambling and the use of credit : an individual and household level analysis
Brown, Sarah; Dickerson, Andrew P.; McHardy, Jolian P.; … - 2010
We explore the relationship between gambling and other forms of risk-taking behaviour, i.e. exposure to debt and the use of credit, at the individual and household level using representative pooled cross-section data drawn from the UK Expenditure and Food Surveys (EFS), 2001 to 2007. Gambling...
Persistent link: https://www.econbiz.de/10003942188
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The value of business networks in emerging economies : an analysis of firms' external financing opportunities
Owolabi, Oluwarotimi; Pal, Sarmistha - 2011
hypothesis. Even after controlling for other factors, firms affiliated to business associations are more likely to secure bank … against the small and medium sized firms' access to bank loans in the CEE regions. Results are robust in both single cross …-section and panel data analyses. -- business networks ; agency costs ; external firm financing ; bank loans ; transition economies …
Persistent link: https://www.econbiz.de/10009307402
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Detecting mortgage delinquencies
Askitas, Nikos; Zimmermann, Klaus F. - 2011
Economic hardship is strongly reflected by the housing market. It is the concern of much research, but its analysis is often obstructed by insufficient lagged data. This paper evaluates search intensity for "hardship letter" from Google Insights to detect ensuing mortgage delinquencies. Such...
Persistent link: https://www.econbiz.de/10009312194
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Business cycle effects of credit and technology shocks in a DSGE model with firm defaults
Pesaran, M. Hashem; Xu, TengTeng - 2011
habit persistence in consumption behaviour. -- bank credit ; financial intermediation ; firm heterogeneity and defaults …
Persistent link: https://www.econbiz.de/10009488413
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Hidden insurance in a moral hazard economy
Bertola, Giuseppe; Koeniger, Winfried - 2013
We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...
Persistent link: https://www.econbiz.de/10010225898