There is little evidence on how the large market for credit score improvement products affects consumers or credit … market efficiency. A randomized encouragement design on a standard credit builder loan (CBL) identifies null average effects … on whether consumers have a credit score and the score itself, with important heterogeneity: those with loans outstanding …

Information asymmetries are known in theory to lead to inefficiently low credit provision, yet empirical estimates of … to estimate welfare losses arising from asymmetric information in the market for online consumer credit. Building on … price distortions, we find only small overall welfare losses, particularly for high-credit-score borrowers …

We study specialized lending in a credit market competition model with private information. Two banks, equipped with …

banks in providing credit to smaller borrowers about whom information is least complete and, more generally, support the …

-performers drop. The magnitude of this difference implies that an individual lender's credit allocation choices matter for aggregate … larger loans based on prior performance is not efficient. Our results have important implications for credit expansion policy …

the financial health of the contracting parties and uncertainty regarding the borrowers' credit quality. The relative …

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 lower market shares, and thus lower incentives to monitor borrowers. Thus … credit panel data …

We present new evidence on consumer liquidity constraints and the credit market conditions that might give rise to them …

significant oversupply of credit, implying greater market power is desirable. We build a model of symmetric imperfect competition …