Showing 1 - 10 of 487
This paper exploits an administrative regulation in Singapore that allows individuals to withdraw between 10 to 30 percent of their pension savings at age 55. We find a large and highly significant increase in individuals' bank account balances within the first month of turning 55, which...
Persistent link: https://www.econbiz.de/10012937807
Using unique consumer financial transactions of more than 56,000 consumers, we study the consumption response to a housing policy experiment in Singapore that resulted in a decrease in access to home equity. Using difference-in-differences analysis, we find a significant negative consumption...
Persistent link: https://www.econbiz.de/10013035473
Using mobile wallet and card transaction data from a leading Singapore bank, this paper studies the effect of a mobile wallet payment technology introduction in 2017 on business growth. We find the mobile wallet usage doubled after the new technology introduction, and the improved payment...
Persistent link: https://www.econbiz.de/10012906831
This paper uses a unique panel dataset of consumer financial transactions to study how consumers respond to an exogenous unanticipated income shock. Consumption rose significantly after the fiscal policy announcement: during the ten subsequent months, for each dollar received, consumers on...
Persistent link: https://www.econbiz.de/10013064215
This paper studies a largely overlooked and important segment of the mortgage market in explaining the recent financial crisis — the condominium loan market, which experienced a 15-fold increase in origination and constituted 15% of the overall residential loan originations from 2001 to 2007....
Persistent link: https://www.econbiz.de/10013065115
Using a comprehensive sample of credit card data from a leading Chinese bank, we find that government bureaucrats receive 16% higher credit lines than non-bureaucrats with similar income and demographics, but their accounts experience a significantly higher likelihood of delinquency and debt...
Persistent link: https://www.econbiz.de/10012923301
Exploiting a novel panel dataset of consumer financial transactions in Singapore, we examine the consumption response to an anticipated, transitory price shock generated by the nation-wide annual sale event. Consistent with theory, we find inter-temporal substitution where consumers spend less...
Persistent link: https://www.econbiz.de/10012947982
Using a representative sample of credit card holders from a Chinese commercial bank with a 10% credit card market share, we investigate how consumers respond to an unexpected interest rate decrease that automatically reduces interest expenses for all mortgagors in the country and thereby...
Persistent link: https://www.econbiz.de/10012850684
Using a large, representative sample of credit and debit card transactions in Singapore, this paper studies the consumption response of individuals whose same-building neighbors experienced personal bankruptcy. The unique bankruptcy rules in Singapore suggest liquidity shocks drive personal...
Persistent link: https://www.econbiz.de/10012855514
Using transaction-level credit card spending from a large US financial institution, we show that disaggregated sales provide accurate and persistent signals of customer demand relevant to a firm's stock pricing. After controlling for earnings and sales surprises, one inter-quintile increase in...
Persistent link: https://www.econbiz.de/10012854821