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The Time-Inconsistency Factor: How Banks Adapt to their Mix of Savers
Szafarz, Ariane; Laureti, Carolina - Centre Emile Bernheim, Solvay Brussels School of … - 2012
stylized facts from Bangladesh show that microfinance institutions pay a premium on commitment savings with respect to flexible …
Persistent link: https://www.econbiz.de/10010741971
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Good Intentions Pave the Way to ... the Local Moneylender
Arnold, Lutz G.; Booker, Benedikt - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2012
. Microfinance programs should strive at preventing such consequences of bounded rationality. …
Persistent link: https://www.econbiz.de/10010570877
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Good intentions pave the way to … the local moneylender
Arnold, Lutz G.; Booker, Benedikt - In: Economics Letters 118 (2013) 3, pp. 466-469
Access to microfinance entails a risk of over-indebtedness. A naïve present-biased micro-borrower may roll over debt …
Persistent link: https://www.econbiz.de/10011041563
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Having it Both Ways: A Theory of the Banking Firm with Time-Consistent and Time-Inconsistent Depositors
Szafarz, Ariane; Laureti, Carolina - Centre Emile Bernheim, Solvay Brussels School of … - 2014
Our equilibrium model determines the liquidity premium offered by a monopolistic bank to a pool of depositors made up of time-consistent and time-inconsistent agents. Time-consistent depositors demand compensation for illiquidity, whereas time-inconsistent ones are willing to forgo interest on...
Persistent link: https://www.econbiz.de/10010775662
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Flexible Products in Microfinance: Overcoming the Demand-Supply Mismatch
Szafarz, Ariane; Labie, Marc; Laureti, Carolina - Centre Emile Bernheim, Solvay Brussels School of … - 2013
The success of microfinance rests upon product simplicity, standardization, and the capacity to stimulate client … cope with shocks. This paper discusses how microfinance institutions could design flexible products efficiently. First, we … clarify the concept of financial flexibility. Second, based on literature in microfinance, banking, and behavioral economics …
Persistent link: https://www.econbiz.de/10010752708
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Group versus individual liability: Short and long term evidence from Philippine microcredit lending groups
Giné, Xavier; Karlan, Dean S. - In: Journal of Development Economics 107 (2014) C, pp. 65-83
Group liability in microcredit purports to improve repayment rates through peer screening, monitoring, and enforcement. However, it may create excessive pressure, and discourage reliable clients from borrowing. Two randomized trials tested the overall effect, as well as specific mechanisms. The...
Persistent link: https://www.econbiz.de/10010753697
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Group Versus Individual Liability : A Field Experiment in the Philippines
Karlan, Dean S. - 2009
by Dean Karlan on various aspects of microfinance (Working Paper Nos. 106-111) …
Persistent link: https://www.econbiz.de/10012721354
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Intergenerational Risk Sharing and Bank Raids
van Bommel, Jos - 2008
In this paper we investigate under what conditions financial intermediaries can improve welfare through intergenerational risk sharing. We review the constraints suggested by the extant literature and propose a new limitation on intergenerational risk sharing: We argue that an intermediary's...
Persistent link: https://www.econbiz.de/10012726705
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US and European Household Debt and Credit Constraints
Crook, Jonathan N. - 2007
This paper uses micro data from four OECD countries (the United States, Spain, Italy, and the Netherlands), to assess the determinants of household debt holding and to investigate whether or not credit constraints are important for household debt holding. We extend the existing literature in...
Persistent link: https://www.econbiz.de/10012728547
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Investor Protection and Financial Structure
Li, Erica X. N. - 2007
Both shareholder protection and creditor protection are considered in a general equilibrium model with two competing technologies. Entrepreneurs are wealth-constrained and resort to banks and the equity market for external financing. The economy's financial structure is determined by the...
Persistent link: https://www.econbiz.de/10012731883