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and consumer credit fluctuations have affected employment recoveries and welfare from 1977 to 2010 in the U.S. There are three main results. First, credit expansions and contractions have contributed ...
does not, she loses future credit access , worth V, and is socially sanctioned next period, costing S. Thus, the following incentive constraint (IC2) must hold: R − 2r + δV ≥ R − δS. This reduces ...
Abstract This paper examines how minimum wages affect lender and borrower interactions with consumer credit markets. We find that higher state minimum wages increase the supply of unsecured credit ...
home values have declined with nearby foreclosures.2 The goal of this paper is to examine external costs in short-term credit markets by testing whether the rise of payday lending affected child support ...
make bank screening of borrowers less costly and improve credit allocation and social welfare . The intimate linkages between law and finance are currently the centre of wide‐ranging empirical ...
toward consumer lending . Particularly relevant to unsecured credit markets, the Credit Card Accountability Reliability and Disclosure (CARD) Act of 2009 was passed due to concerns that excess credit might ...
individuals and produce social norms and values. Gunnar Trumbull (2012) considers that France and the US presents two ‘moral economies of consumer lending ’: one connects credit and welfare , while the other ...
and subsequent austerity programme coupled with changes in the consumer credit market have fuelled an increase in predatory lending . Methods The study is a descriptive analysis of demographic, financial, health ...
the former effect outweighs the latter effect. First, because u(·) is concave, an increase in lending to a consumer hurts social welfare more than an equal decrease in lending to a consumer raises social ...
in wage is replaced by expansion of consumer credit , resulting in a significant rise in household’s indebtedness. Kane (2015) claims that most financial crises occurred because governments attempted ...
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