Traditional economic analysis of markets with asymmetric information assumes that uninformed agents account for the incentives of informed agents to distort information. We analyze whether investors in the stock market internalize such incentives. Stock recommendations of security analysts are...

Since 1 June 2003 the file of the Central Individual Credit Register has recorded information relating to all consumer credits and mortgage loans contracted by natural persons for private purposes, as well as any payment defaults resulting from these loans. This registration aims to strengthen...

This paper summarizes lessons from interviews of 22 consumers who use prepaid cards (PPCs), an emerging product in the market space between institution-based transaction accounts and non-account services like check-cashing and money orders. A majority of interviewees used PPCs as their primary...

Indonesia has a rich historical tradition of mutual cooperation at the community level. This study argues that rotating savings and credit associations (ROSCAs) constitute successful experiences of collective action within the informal financial sector. Therefore, using data from Indonesia...

At the request of the Minister for Climate and Energy, Paul Magnette, who is also responsible for Consumer Affairs, the NBB's Microeconomic Analysis Service conducted an investigation into the link between payment arrears for mobile telephony and arrears on loan repayments. In this inquiry,...

Permanent disequilibrium in mainstream credit markets have pushed the unbanked and underbanked households to frequent high cost payday loans for their liquidity needs. Associated with the latter are welfare-reducing issues of predation and debt-entrapment. In response to this market failure, we...

In developing countries, traditional social obligations often press rich individuals to share their income. In this paper, we posit a "model of social pressure" in which people can sign binding financial agreements amongst themselves, thereby forming coalitions. These financial agreements may...

In developing countries, traditional social obligations often press rich individuals to share their income. In this paper, we posit a "model of social pressure" in which people can sign binding financial agreements amongst themselves, thereby forming coalitions. These financial agreements may...

Since 1 June 2003 the file of the Central Office for Credits to Private Individuals has recorded information relating to all consumer credits and mortgage loans contracted by natural persons for private purposes, as well as any payment defaults resulting from these loans. This registration aims...

In this study we examine how Specified Purpose Acquisition Companies (SPACs) were used as a financing tool for companies in the shipping industry in period 2004-2011. We confirm that SPACs focused on acquisitions in the shipping industry have similar characteristics as the population of SPACs...