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Payday holiday: how households fare after payday credit bans
Morgan, Donald P.; Strain, Michael R. - Federal Reserve Bank of New York - 2007
Payday loans are widely condemned as a “predatory debt trap.” We test that claim by researching how households in … Georgia and North Carolina have fared since those states banned payday loans in May 2004 and December 2005. Compared with … substitutes such as the bounced-check “protection” sold by credit unions and banks or loans from pawnshops.> …
Persistent link: https://www.econbiz.de/10005420672
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The affordable housing shortage: considering the problem, causes and solutions
Feldman, Ron - Federal Reserve Bank of Minneapolis - 2002
Many observers claim that we are in the midst of an “affordable housing shortage” or, even worse, an “affordable housing crisis.” The primary concern is that too many households live in “unaffordable” rental units. We hope to clarify the current debate by first measuring the size of...
Persistent link: https://www.econbiz.de/10005394460
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Household borrowing after personal bankruptcy
Han, Song; Li, Geng - Federal Reserve Board (Board of Governors of the … - 2009
A large literature has examined factors leading to filing for personal bankruptcy, but little is known about household …
Persistent link: https://www.econbiz.de/10004967554
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Personal bankruptcy and credit market competition
Dick, Astrid; Lehnert, Andreas - Federal Reserve Bank of New York - 2007
market competition, lending to households, and personal bankruptcy rates in the United States. We exploit the exogenous … the credit market. We document that, following deregulation, (1) overall lending increased, (2) loss rates on loans …
Persistent link: https://www.econbiz.de/10005420638
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Risk-based pricing of interest rates in household loan markets
Edelberg, Wendy - Federal Reserve Board (Board of Governors of the … - 2003
to the interest rate spread between the highest- and lowest-risk borrowers. For those obtaining loans, the premium paid … probability of bankruptcy, the corresponding interest rate increase tripled for first mortgages, doubled for automobile loans and …
Persistent link: https://www.econbiz.de/10005393756
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Testing for adverse selection and moral hazard in consumer loan markets
Edelberg, Wendy - Federal Reserve Board (Board of Governors of the … - 2004
This paper explores the significance of unobservable default risk in mortgage and automobile loan markets. I develop and estimate a two-period model that allows for heterogeneous forms of simultaneous adverse selection and moral hazard. Controlling for income levels, loan size and risk aversion,...
Persistent link: https://www.econbiz.de/10005514125
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Defining and detecting predatory lending
Morgan, Donald P. - Federal Reserve Bank of New York - 2007
We define predatory lending as a welfare-reducing provision of credit. Using a textbook model, we show that lenders profit if they can tempt households into "debt traps," that is, overborrowing and delinquency. We then test whether payday lending fits our definition of predatory. We find that in...
Persistent link: https://www.econbiz.de/10005726611
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Finance and Growth at the Firm Level: Evidence from SBA Loans
Brown, J. David; Earle, John S. - 2015
We analyze linked databases on all Small Business Administration (SBA) loans, on all SBA lenders, and on all U … lenders. The estimation results imply an increase of 3-4 jobs for each million dollars of loans, suggesting that credit …-county versus non-SBA county-industry control firms. Finally, for loans issued over the 1992-2007 period, we estimate total job …
Persistent link: https://www.econbiz.de/10011307476
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Finance for micro, small, and medium-sized enterprises in India: Sources and challenges
Singh, Charan; Wasdani, Kishinchand Poornima - 2016
limitation in the identification and utilization of sources of finance. Data was collected through personal interviews using a …Finance for micro, small, and medium-sized enterprises (MSMEs) has been a concern for all stakeholders including … challenges faced by MSMEs in sourcing of finance during different stages of their life cycle. This study is a first …
Persistent link: https://www.econbiz.de/10011653783
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Finance and growth at the firm level : evidence from SBA loans
Brown, J. David; Earle, John S. - 2015
We analyze linked databases on all Small Business Administration (SBA) loans, on all SBA lenders, and on all U … lenders. The estimation results imply an increase of 3-4 jobs for each million dollars of loans, suggesting that credit …-county versus non-SBA county-industry control firms. Finally, for loans issued over the 1992-2007 period, we estimate total job …
Persistent link: https://www.econbiz.de/10011309136