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Information Asymmetries in Consumer Credit Markets
(American Economic Journal: Applied Economics, 2013)
This paper tests for incentive and selection effects in a subprime consumer credit market. We estimate the incentive effect of loan size on default using sharp discontinuities in loan eligibility rules. This allows us to ...
Payday Loans and Credit Cards
(American Economic Review: Papers and Proceedings, 2009)
Using a unique dataset matched at the individual level from two administrative sources, we examine household choices between liabilities and assess the informational content of prime and subprime credit scores in the ...
Regulation of Payday Loans
(Washington & Lee Law Review, 2012)
Since payday lenders came on the scene in 1990s, regulation of
their ')redatory" practices has been swift and often severe. Fourteen
states now ban payday loans outright. From an economist's
perspective, high-interest, ...