I provide empirical evidence that the effect of high-cost credit access on household material well-being depends on if … well as geographic variation in access to high cost payday loans over time, I find that payday credit access improves …, mortgage payments, and home repairs. In an average period, however, I find that access to payday credit reduces well …

How does gaining access to expensive credit affect the well-being of credit-constrained households? I use plausibly …

Using comprehensive credit bureau data, we document that consumers who borrow from marketplace lending (MPL) platforms … have lower credit scores and higher default rates in the long run relative to observably similar applicants for bank loans …

We estimate the causal effect of emergency credit on households' finances after a negative shock. To do so, we link … a federally-declared natural disaster, to a panel of credit records before and after the shock. We exploit a … approved. Using an instrumented difference-in-differences research design, we find that credit provision at the time of a shock …

There are more young adults today with either no credit history or insufficient credit history to be scored by one of … the major credit bureaus than there were before the Great Recession−a reality that is likely an unintended outcome of the … missing from credit bureau data act as a drag on state-level consumption growth. This finding seems to be driven by young …

. Payday credit is priced per dollar borrowed, so when that option is available, depositors prone to small overdrafts switch … at banks and other depository institutions increases when depositors have access to payday credit. Our findings … illuminate competition and pricing frictions in the large, yet largely unstudied, small-dollar loan market. -- Payday credit …

inclusion of a broad set of loan-level controls and fixed effects. We also find that the spread between high and low credit …

Inefficiencies in mainstream credit markets have pushed selected households to frequent high cost payday loans for … rides on the public policy objective of expanding affordable credit to underbanked households. Here, we expound a simple … financiers. Conjointly, it addresses financial exclusion issues in mainstream credit markets …