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Bringing "honest capitalʺ to poor borrowers : the passage of the uniform small loan law, 1907-1930

Carruthers, Bruce G.; Guinnane, Timothy; Lee, Yoonseok - 2009

The Uniform Small Loan Law (USLL) was the Russell Sage Foundation’s primary device for fighting what it viewed as the scourge of high-rate lending to poor people in the first half of the twentieth century. The USLL created a new class of lenders who could make small loans at interest rates...

Persistent link: https://www.econbiz.de/10003841394

Bringing "Honest Capital" to Poor Borrowers: The Passage of the Uniform Small Loan Law, 1907-1930

Carruthers, Bruce G.; Guinnane, Timothy W.; Lee, Yoonseok - Economic Growth Center, Economics Department - 2009

Persistent link: https://www.econbiz.de/10005018061

Willingness to overpay for insurance and for consumer credit : search and risk behavior under price dispersion

Malakhov, Sergey - In: Expert journal of economics 2 (2014) 3, pp. 109-119

function takes the form of cubic parabola, where the risk aversion behavior ends at the saddle point of the comprehensive … the ambiguity of the departure from risk-neutrality. This ambiguity can produce the ordinary risk seeking behavior as well … as mathematical catastrophes of Veblen-effect's imprudence and over prudence of family altruism. The comeback to risk …

Persistent link: https://www.econbiz.de/10012062057

The Cross-Section of Consumer Lending Risk

Desai, Chintal A. - 2016

This paper tests the validity of a single-factor (market) model to price consumer lending risk. It classifies US … revolving credit as default risk, show that the intercepts are indistinguishable from zero in 22 portfolios, and the average … default rate of a portfolio increases with its beta. The additional risk factors based on unemployment and income growth …

Persistent link: https://www.econbiz.de/10013004005

Household Credit and Local Economic Uncertainty

Di Maggio, Marco - 2017

in response to changes in uncertainty. Among high risk borrowers or areas with more high risk borrowers, increased … uncertainty is associated with housing market illiquidity and a reduction in leverage. For low risk borrowers, these effects are …

Persistent link: https://www.econbiz.de/10012950501

Stability in consumer credit scores: Level and direction of FICO score drift as a precursor to mortgage default and prepayment

Smith, Brent C - In: Journal of Housing Economics 20 (2011) 4, pp. 285-298

This article represents an extension of the expansive credit risk and credit migration literature, prominent in the … corporate bond and securities risk pricing literature, to an analysis of the drift of consumer credit scores. A rich data set of …

Persistent link: https://www.econbiz.de/10010574765

Crisis Innovation

Babina, Tania - 2020

The effect of financial crises on innovation is an unsettled and important question for economic growth, but one difficult to answer with modern data. Using a differences-in-differences design surrounding the Great Depression, we document that local distress caused by the Depression led to a...

Persistent link: https://www.econbiz.de/10012838012

Traumatic Financial Experiences and Persistent Changes in Financial Behavior : Evidence from the Freedman's Savings Bank

Arthi, Vellore; Richardson, Gary; Van Orden, Mark - National Bureau of Economic Research - 2024

The failure of the Freedman's Savings Bank (FSB), one of the only Black-serving banks in the early post-bellum South, was an economic catastrophe and one of the great episodes of racial exploitation in post-Emancipation history. It was also most Black Americans' first experience of banking. Can...

Persistent link: https://www.econbiz.de/10014576605

Reincorporating Friedrich von Wieser and the concept of power into the Austrian research program

Kolev, Stefan - 2017

This paper constitutes the start of a project dedicated to Austrian economist and economic sociologist Friedrich von Wieser (1851-1926). Its central claim is that especially in recent decades, Wieser has become a disproportionately underresearched scholar, and the paper provides a set of...

Persistent link: https://www.econbiz.de/10011613822

The abandoned übervater: Max Weber and the neoliberals

Kolev, Stefan - 2018

This paper addresses the intellectual relationship between Max Weber and three key proponents of neoliberalism: F.A. Hayek, Walter Eucken and Wilhelm Röpke. This relationship is contextualized in the history of German-language political economy, focusing on the nexus and proximity between early...

Persistent link: https://www.econbiz.de/10011951717