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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

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

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

Risk-sharing and student loan policy : consequences for students and institutions

Webber, Douglas A. - 2015

This paper examines the potential costs and benefits associated with a risk-sharing policy imposed on all higher education institutions. Under such a program, institutions would be required to pay for a portion of the student loans among which their students defaulted. I examine the predicted...

Persistent link: https://www.econbiz.de/10010488238

Physician payment contracts in the presence of moral hazard and adverse selection : the theory and its application to Ontario

Kantarevic, Jasmin; Kralj, Boris - 2015

We develop a stylized principal-agent model with moral hazard and adverse selection to provide a unified framework for understanding some of the most salient features of the recent physician payment reform in Ontario and its impact on physician behavior. These features include: (1) physicians...

Persistent link: https://www.econbiz.de/10011288527

Optimal wage redistribution in the presence of adverse selection in the labor market

Bastani, Spencer; Blumḳin, Tomer; Micheletto, Luca - 2015

In this paper we allude to a novel role played by the non-linear income tax system in the presence of adverse selection in the labor market due to asymmetric information between workers and firms. We show that an appropriate choice of the tax schedule enables the government to affect the wage...

Persistent link: https://www.econbiz.de/10011289068

Surprising selection effects in the UK car insurance market

Cannon, Edmund S.; Cipriani, Giam Pietro; Bazar-Rosen, Katia - 2014

is much less sophisticated than that characterised by modern microeconomic theory. …

Persistent link: https://www.econbiz.de/10010355706

Social insurance with competitive insurance markets and risk misperception

Cremer, Helmuth; Roeder, Kerstin - 2016

This paper considers an economy where individuals differ in productivity and in risk. Rochet (1991) has shown that when private insurance markets offer full coverage at fair rates, social insurance is desirable if and only if risk and productivity are negatively correlated. This condition is...

Persistent link: https://www.econbiz.de/10011449932

Should UI benefits really fall over time?

Hassler, John; Rodríguez Mora, José Vicente - 2002

The issue of whether unemployment benefits should increase or decrease over the unemployment spell is analyzed in a tractable model allowing moral hazard, adverse selection and hidden saving. Analytical results show that when the search productivity of unemployed is constant over the...

Persistent link: https://www.econbiz.de/10011414504

Adverse selection in the group life insurance market

Harris, Timothy; Yelowitz, Aaron S.; Talbert, Jeffery; … - 2022

The employer-sponsored life insurance (ESLI) market is particularly susceptible to adverse selection due to community-rated premiums, guaranteed issue coverage, and the existence of a well-functioning individual market as a substitute. Using administrative payroll and healthcare claims data from...

Persistent link: https://www.econbiz.de/10012804121

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