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

during the housing crisis. We use proprietary loan-level panel data matched to consumer credit records using borrowers … in household credit standing. We identify important heterogeneity in the ability of monetary policy to stimulate … households' consumption: Low-wealth borrowers are especially responsive to reductions in mortgage payments, while credit …

relationship between a cash-loan borrower's access to credit and their respective consumption response. In particular, we test … whether consumption among borrowers with a high level of addiction is more sensitive to a given change in credit. We use an … exogenous credit supply shock to cash-loan borrowers and show that expanding credit access is positively associated with …

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 …

There is little evidence on how the large market for credit score improvement products affects consumers or credit … market efficiency. A randomized encouragement design on a standard credit builder loan (CBL) identifies null average effects … on whether consumers have a credit score and the score itself, with important heterogeneity: those with loans outstanding …

payment risk on bank lending, bridging the literatures on payment systems and credit supply. An interquartile increase in …

predominantly by three distinct subgroups of borrowers: First, moderate-income borrowers with impaired credit who are excluded from … superior credit products such as credit cards and who use title pledge lending in preference to payday loans (the next …-closest alternative). Second, unbanked consumers, often immigrants, who are unable to access other credit products (especially payday …