I study the informational value of community resilience in credit markets during natural disasters. Exploiting a severe flood in Germany in 2013, I combine loan-level data on car loans with a composite measure of community resilience based on structural local characteristics linked to disaster...

The European Central Bank's interest rate hikes since July 2022 have been passed on to customers by banks on credit markets to a much greater extent than on deposit markets. As a result, banks' net interest margins have risen extraordinarily sharply. An analysis of the interest rate pass-through...

According to the regulations in force, including in Poland, loan institutions must disclose the costs of consumer credit. However, these costs can be presented in many ways. By conducting in -depth interviews with experts, we analyse whether the way in which the applicable regulations are...

I study the informational value of community resilience in credit markets during natural disasters. Exploiting a severe flood in Germany in 2013, I combine loan-level data on car loans with a composite measure of community resilience based on structural local characteristics linked to disaster...

Household debt is a critical component of family financial management, especially considering the prevalence of credit constraints. This study investigates the determinants of Chinese household debt structure, focusing on the choice between formal and informal borrowing and the proportion of...

Using a monthly panel dataset of individuals' debt, we show that house price changes can explain a significant fraction of personal debt composition dynamics. We exploit the variation in local house price growth as shocks to homeowners' housing wealth to study the consequential adjustment of...

Utilizing near real-time QuickBooks data from over 1.6 million small businesses and a targeted survey, this paper highlights the critical role credit card financing plays for small business activity. We examine a two year period beginning in January of 2021. A turbulent period during which,...

Amidst the global ascent of financial technologies (FinTech), Argentina presents a critical case for examining how these platforms shape debt relations among marginalized households. Employing a mixed-methods approach, this article draws on quantitative data from the Central Bank of the Republic...

Buy Now, Pay Later loans (BNPL) are an increasingly popular way to finance smallticket purchases. We provide new evidence on how BNPL influences regular bank credit markets, benefiting both lenders and borrowers through information production and learning. Using data from over one million...

Background and purpose of the article: The main aim of the article is to present financial literacy (FL) and consumer over-indebtedness (OI) according to the primary survey in Poland. The auxiliary aim is to analyse the importance of financial literacy in reducing consumer over-indebtedness from...

This paper investigates the role of mortgage refinancing in shaping the estimates of marginal propensity to consume (MPC) and its implications for fiscal policy. Using U.S. household data, we find that MPCs decrease during the year of mortgage refinancing and stabilize afterwards, particularly...

I study the welfare consequences of regulations on high-cost consumer credit in the United States. I estimate a heterogeneous-agents model with uninsurable idiosyncratic risk, risk-based pricing of loans, and preference heterogeneity including households with self-control issues. I find that...

According to the Federal Reserve of the United States, in the second quarter of 2024, American credit card debt reached USD 1.14 trillion, the highest balance ever recorded. In an age of high-interest, complex credit cards, how does financial literacy affect credit card debt repayment? Also, how...

FinTech-based lending has rapidly expanded in emerging economies, offering convenience and inclusion but also raising concerns about over-indebtedness. In Indonesia, the surge of digital loans has been accompanied by growing signs of risky borrowing behavior, including late payments, high...

Finance is still stereotypically perceived as a male domain, and social group divisions have linguistic consequences. This study examines whether language use in consumer finance exhibits gendered characteristics by identifying linguistic patterns used by non-expert women and men in this domain....

Monetary policy impacts consumer spending via the effect of interest rate changes on credit card borrowing. Using supervisory account-level spending and balance data, we estimate that a 1 percentage point increase in the interest rate reduces credit card spending by nearly 9 percent and...