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Access to credit and financial health: Evaluating the impact of debt collection

Fonseca, Julia; Strair, Katherine; Zafar, Basit - 2017

Despite the prevalence of debt collection and the intense regulatory activity surrounding this industry, little is … known about how these practices impact consumers. This paper conducts an empirical analysis of the effect of debt collection …

Persistent link: https://www.econbiz.de/10011942759

Defining and detecting predatory lending

Morgan, Donald P. - 2007

profit if they can tempt households into “debt traps,” that is, overborrowing and delinquency. We then test whether payday … households with uncertain income are less likely to be denied credit, but are not more likely to miss a debt payment. Absent …

Persistent link: https://www.econbiz.de/10010283443

Real estate investors, the leverage cycle, and the housing market crisis

Haughwout, Andrew; Lee, Donghoon; Tracy, Joseph; van … - 2011

We explore a mostly undocumented but important dimension of the housing market crisis: the role played by real estate investors. Using unique credit-report data, we document large increases in the share of purchases, and subsequently delinquencies, by real estate investors. In states that...

Persistent link: https://www.econbiz.de/10010287182

Does CFPB oversight crimp credit?

Fuster, Andreas; Plosser, Matthew; Vickery, James - 2018

We study the effects of regulatory oversight by the Consumer Financial Protection Bureau (CFPB) on credit supply as well as bank risk-taking, growth, and operating costs. We use a difference-in-differences approach, making use of the fact that banks below a $10 billion size cutoff are exempt...

Persistent link: https://www.econbiz.de/10012144700

University choice: The role of expected earnings, non-pecuniary outcomes, and financial constraints

Delavande, Adeline; Zafar, Basit - 2014

We investigate the determinants of students' university choice, with a focus on expected monetary returns, non-pecuniary factors enjoyed at school, and financial constraints, in the Pakistani context. To mitigate the identification problem concerning the separation of preferences, expectations,...

Persistent link: https://www.econbiz.de/10011340949

Information heterogeneity and intended college enrollment

Bleemer, Zachary; Zafar, Basit - 2014

Despite a robust college premium, college attendance rates in the United States have remained stagnant and exhibit a substantial socioeconomic gradient. We focus on information gaps - specifically, incomplete information about college benefits and costs - as a potential explanation for these...

Persistent link: https://www.econbiz.de/10011340967

Subjective intertemporal substitution

Crump, Richard K.; Eusepi, Stefano; Tambalotti, Andrea; … - 2015

We estimate the elasticity of intertemporal substitution (EIS) - the elasticity of expected consumption growth with respect to variation in the real interest rate - using subjective expectations from the newly released FRBNY Survey of Consumer Expectations (SCE). This dataset is unique, since it...

Persistent link: https://www.econbiz.de/10011340989

Anxiety, overconfidence, and excessive risk taking

Eisenbach, Thomas M.; Schmalz, Martin C. - 2015

We provide a preference-based rationale for endogenous overconfidence. Horizon-dependent risk aversion, combined with a possibility to forget, can generate overconfidence and excessive risk taking in equilibrium. An "anxiety prone" agent, who is more risk-averse to imminent than to distant...

Persistent link: https://www.econbiz.de/10011341006

Long-term debt pricing and monetary policy transmission

Eusepi, Stefano; Giannoni, Marc; Preston, Bruce - 2012

nominal interest rates. The longer the average maturity structure of the public debt, the more severe is the constraint. …

Persistent link: https://www.econbiz.de/10010333054

Fiscal foundations of inflation: Imperfect knowledge

Eusepi, Stefano; Preston, Bruce - 2013

scale and composition of the public debt, matter for inflation. As a result, fiscal policy constrains the efficacy of … monetary policy. Heavily indebted economies with debt maturity structures observed in many countries require aggressive … moderate had fiscal policy been characterized by a scale and composition of public debt now witnessed in some advanced …

Persistent link: https://www.econbiz.de/10010333563