We use data from prospectus supplements to create measures of the complexity of securitized products. We use these measures to investigate whether and to what extent complexity plays a role in the performance and pricing of mortgage-backed securities. We find that securities in more complex...

Young borrowers are the least experienced financially and, conventionally, thought to be most prone to financial mistakes. We study the relationship between age and financial problems related to credit cards. Our results challenge the notion that young borrowers are bad borrowers. We show that...

One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higher-income households. Using household level data on...

We use micro data on applications to job openings by individuals on a job search website to study the relationship between search intensity and search duration. Our data allow us to control for several factors that can affect the measured relationship between intensity and duration, including...