In rural areas of developing countries, shocks and financial constraints on households are generally recognized as obstacles to children's schooling opportunities. This paper investigates the effects of income shocks and borrowing constraints on household demand for education in rural Thailand,...

We study the heterogeneous impact of jointly identified monetary policy and global risk shocks on corporate funding costs. We disentangle these two shocks in a structural Bayesian Vector Autoregression framework and investigate their respective effects on funding costs of heterogeneous firms...

In this paper, we study the optimization problem of an economic agent who chooses the best time for retirement as well as consumption and investment in the presence of a mandatory retirement date. Moreover, the agent faces the borrowing constraint which is constrained in the ability to borrow...

We explore how personality traits are related to household borrowing behavior. Using survey data representative for the Netherlands, we consider the Big Five personality traits (openness, conscientiousness, agreeableness, extraversion and neuroticism), as well as the belief that one is master of...

I analyze the effect of a down payment requirement for the purchase of a home, implemented as a macroeconomic prudential measure by the Financial Supervisory Authority of Sweden in 2010, on the likelihood of homeownership of the young adult population in Sweden. By building a...

Investment portfolios that include private assets can gain a number of potential advantages, including diversification, enhanced returns and less risk. Moreover, there is evidence of a growing number of private asset investment opportunities that can have a positive sustainable impact. However,...

This paper examines environmental, social, and governance (ESG) performance around seasoned equity offerings (SEOs). A firm may improve ESG performance prior to SEOs to the extent that it believes that investors will be more favorable to firms with better ESG performance (window-dressing...

We analyze the role of trade credit and financial frictions in the propagation of international trade shocks along the supply chain. First, we show empirically that exposure to import competition from China increased the use of trade credit in the U.S. Then, we use a multi-country input-output...