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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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Group versus Individual Liability: Long Term Evidence from Philippine Microcredit Lending Groups
Giné, Xavier; Karlan, Dean - Economic Growth Center, Economics Department - 2009
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/10005018059
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Group versus Individual Liability: A Field Experiment in the Philippines
Gine, Xavier; Karlan, Dean - Economic Growth Center, Economics Department - 2006
Group liability is often portrayed as the key innovation that led to the explosion of the microcredit movement, which started with the Grameen Bank in the 1970s and continues on today with hundreds of institutions around the world. Group lending claims to improve repayment rates and lower...
Persistent link: https://www.econbiz.de/10005357728
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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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Behavioral Foundations of Microcredit: Experimental and Survey Evidence From Rural India
Bauer, Michal; Chytilová, Julie; Morduch, Jonathan - Institut ekonomických studií, Univerzita Karlova v Praze - 2008
This paper draws a link between self-control problems and the contractual mechanisms of microcredit. We use a series of “lab experiments in the field” which were designed to elicit measures of time discounting on a sample of 573 individuals in rural Karnataka, India. Evidence from the...
Persistent link: https://www.econbiz.de/10005698684
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Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India
Bauer, Michal; Chytilová, Julie; Morduch, Jonathan - Institute for the Study of Labor (IZA) - 2010
Microcredit is an innovative financial tool designed to reduce poverty and fix credit market imperfections. We use experimental measures of time discounting and risk aversion for villagers in south India to highlight behavioral features of microcredit. Conditional on borrowing from any source,...
Persistent link: https://www.econbiz.de/10008560756