This paper reports a cross-sectional study of the use of cash in retail transactions among 36 countries between 2010-17. The retail use of cash in increased with concern for privacy and decreased with trust in banks. An increase in concern for privacy by one standard deviation (equivalent to an...

Great credit risk is a big headache which blocks the development of the banking sector of China. Based on the panel data of the Chinese banking sector from 2002 to 2006, this paper empirically examines the effects of foreign strategic investors' participation on the risk behavior of Chinese...

This study proposes a lifetime utility maximization model, where borrowers choose optimal mortgage bundles including mortgage type, LTV and loan size to maximize their allocation of limited budgets between housing and non-housing consumptions. The model predicts that the mortgage bundles choice...

This study examines two questions relating to the banking market structure. First, does the banking market structure influence banks' decisions to originate new single-family home mortgages? Second, does the banking market concentration affect mortgage default risks? Using a two-stage approach...

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...

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...