We investigate the factors associated with the incidence of mortgage-related financial difficulties in Australia. We use two complementary micro-level datasets: loan-level data on residential mortgages from two Australian banks, which we use to analyse the factors associated with entering 90+...

This paper makes the case that the structure of payment systems is such that, in contrast to competition in normal markets, private incentives can encourage activities and pricing that do not necessarily improve social welfare. Furthermore, while there is usually a reasonable presumption that...