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House Price Gains and U.S. Household Spending from 2002 to 2006
Mian, Atif - 2014
We examine the effect of rising U.S. house prices on borrowing and spending from 2002 to 2006. There is strong heterogeneity in the marginal propensity to borrow and spend. Households in low income zip codes aggressively liquefy home equity when house prices rise, and they increase spending...
Persistent link: https://www.econbiz.de/10012458512
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Negative Equity Does Not Reduce Homeowners' Mobility
Schulhofer-Wohl, Sam - 2011
Some commentators have argued that the housing crisis may harm labor markets because homeowners who owe more than their homes are worth are less likely to move to places that have productive job opportunities. I show that, in the available data, negative equity does not make homeowners less...
Persistent link: https://www.econbiz.de/10012461956
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Payday Loans and Credit Cards : New Liquidity and Credit Scoring Puzzles?
Agarwal, Sumit - 2009
Using a unique dataset matched at the individual level from two administrative sources, we examine household choices …
Persistent link: https://www.econbiz.de/10012463988
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Household Credit as Stimulus? Evidence from Brazil
Garber, Gabriel; Mian, Atif; Ponticelli, Jacopo; Sufi, Amir - National Bureau of Economic Research - 2021
results suggest a potential downside of using household credit as stimulus in emerging markets …
Persistent link: https://www.econbiz.de/10012660064
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Impacts of Basic Income on Health and Economic Well-Being : Evidence from the VA's Disability Compensation Program
Silver, David; Zhang, Jonathan - National Bureau of Economic Research - 2022
We study impacts of a cash transfer program with no means-test and no work restrictions: the US Department of Veteran Affairs (VA) Disability Compensation program. Our empirical strategy leverages quasi-random assignment of veterans claiming mental disorder disability to examiners who vary in...
Persistent link: https://www.econbiz.de/10013172176
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Personal Bankruptcy and the Accumulation of Shadow Debt
Argyle, Bronson; Iverson, Benjamin; Nadauld, Taylor D.; … - National Bureau of Economic Research - 2021
share of reported liabilities are "shadow debt," debt not reported to credit bureaus that often arises from the non … and how much debt they have at bankruptcy. We find that filers respond to a quasi-exogenous $100 increase in monthly cash … preceding filing. A large share of the additional debt incurred by delaying filers is shadow debt, and our effects are …
Persistent link: https://www.econbiz.de/10012585385
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Competition and Selection in Credit Markets
Yannelis, Constantine; Zhang, Anthony Lee - National Bureau of Economic Research - 2021
We present both theory and evidence that increased competition may decrease rather than increase consumer welfare in subprime credit markets. We present a model of lending markets with imperfect competition, adverse selection and costly lender screening. In more competitive markets, lenders have...
Persistent link: https://www.econbiz.de/10012616617
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The Effects of Disclosure and Enforcement on Payday Lending in Texas
Wang, Jialan; Burke, Kathleen - National Bureau of Economic Research - 2021
Inspired by the field experiment in Bertrand and Morse (2011), the state of Texas adopted an information disclosure for consumers taking out payday loans starting in January, 2012. The disclosure compares the cost of payday loans with other credit products, and presents their likelihood of...
Persistent link: https://www.econbiz.de/10012533314
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Navigating Higher Education Insurance : An Experimental Study on Demand and Adverse Selection
Balakrishnan, Sidhya; Bettinger, Eric; Kofoed, Michael S.; … - National Bureau of Economic Research - 2024
We conduct a survey-based experiment with 2,776 students at a non-profit university to analyze income insurance demand in education financing. We offered students a hypothetical choice: either a federal loan with income-driven repayment or an income-share agreement (ISA), with randomized framing...
Persistent link: https://www.econbiz.de/10014512114
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The Anatomy of a Credit Crisis : The Boom and Bust in Farm Land Prices in the United States in the 1920s
Rajan, Raghuram - 2012
Does credit availability exacerbate asset price inflation? What channels could it work through? What are the long run consequences? In this paper we address these questions by examining the farm land price boom (and bust) in the United States that preceded the Great Depression. We find that...
Persistent link: https://www.econbiz.de/10012460632