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Why do banks reward their customers to use their credit cards?
Agarwal, Sumit; Chakravorti, Sujit; Lunn, Anna - 2010
Using a unique administrative level dataset from a large and diverse U.S. financial institution, we test the impact of rewards on credit card spending and debt. Specifically, we study the impact of cash-back rewards on individuals before and during their enrollment in the program. We find that...
Persistent link: https://www.econbiz.de/10008747502
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The role of securitization in mortgage renegotiation
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2011
We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial crisis. Unlike prior studies, we employ unique data that directly observe lender renegotiation actions and cover more than 60% of the U.S. mortgage market. Exploiting...
Persistent link: https://www.econbiz.de/10008821936
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Systemic Risk and Heavy Tails : The Case of Banks’ Loan Portfolio
Agarwal, Sumit - 2011
We estimate a Pareto distribution for loan losses, as an alternative to the commonly used Vasicek distribution, using simulated data. A key assumption in the construction of Vasicek distribution is that firm-level risk is idiosyncratic. It also assumes that firm exposure to systemic risk is...
Persistent link: https://www.econbiz.de/10013128402
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The Role of Securitization in Mortgage Renegotiation
Agarwal, Sumit - 2011
We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial crisis. Unlike prior studies, we employ unique data that directly observes lender renegotiation actions and covers more than 60% of US mortgage market. Exploiting...
Persistent link: https://www.econbiz.de/10013131514
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Benefits of Relationship Banking : Evidence from Consumer Credit Markets
Agarwal, Sumit - 2011
This paper empirically examines the benefits of relationship banking to banks, in the context of consumer credit … its credit card customers, we estimate the effects of relationship banking on the customers' default, attrition, and … significant potential benefits of relationship banking to banks in the retail credit market …
Persistent link: https://www.econbiz.de/10013133219
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Why Do Banks Reward Their Customers to Use Their Credit Cards?
Agarwal, Sumit - 2010
Using a unique administrative level dataset from a large and diverse U.S. financial institution, we test the impact of rewards on credit card spending and debt. Specifically, we study the impact of cash-back rewards on individuals before and during their enrollment in the program. We find that...
Persistent link: https://www.econbiz.de/10013135449
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The Geography of Consumption
Agarwal, Sumit - 2017
We use detailed information from U.S. consumers' credit card purchases to provide the first large scale description of the geography of consumption. We find that consumers' mobility is quite limited and document significant heterogeneity in the importance of gravity across sectors. We develop a...
Persistent link: https://www.econbiz.de/10012952072
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Pollution Shock and Firm Performance
Agarwal, Sumit - 2020
This study examines the impact of air pollution shocks on consumer satisfaction and firm performance in the service sector. We show that air pollution shocks lead to an immediate decrease in consumer satisfaction, followed by a substantial rebound in consumer satisfaction for eight months after...
Persistent link: https://www.econbiz.de/10012852175
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Financial Literacy and Financial Planning : Evidence from India
Agarwal, Sumit - 2010
In this study we report findings about financial literacy and financial planning behavior based on a financial advisory program in India. We evaluate survey responses to three standard questions previously used to measure financial literacy. We then break down the data across particular...
Persistent link: https://www.econbiz.de/10013134943
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Do As Essay, Not As I Do? How Inflated List Prices of Unsold Essayer Homes Affect the Price Discovery Process
Agarwal, Sumit; Seiler, Michael J.; Siebert, Ralph - 2022
In the U.S. real estate market, around 30 percent of listed properties remain unsold. We examine whether unsold property listings exert externalities in the housing market. Our study builds on a comprehensive dataset that encompasses residential property listings in Orange County (California)...
Persistent link: https://www.econbiz.de/10014236460