. 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 …

affect the decisions of lenders and low-income borrowers. Using data derived from direct mailings of credit offers, survey …-reported usage of high-cost alternative credit products, and debt recorded in credit reports, we find that higher minimum wages … increase the supply of unsecured credit to lower-income adults, who in turn, use more traditional credit and less high …