terms, in particular maturity choice, can be used to screen borrowers based on their private information. We compare two … higher rate 60-month maturity choice available. When a long maturity option is available, fewer borrowers take the short …

terms, in particular maturity choice, can be used to screen borrowers based on their private information. We compare two …-month loan was also available. When a long-maturity option is available, fewer borrowers take the short-term loan, and those …