Showing 1 - 10 of 531
hidden fees when customers are less exposed to negative cash flow shocks. These findings are in line with the recent …
Persistent link: https://www.econbiz.de/10012988498
riders have the option to use cash or credit cards to pay for rides. We use three field experiments involving approximately … 400,000 riders to estimate the loss of private benefits for riders if a ban on cash payments is implemented. We find that … Uber riders, using cash as means of payment either sometimes or exclusively, suffer an average loss of approximately 50% of …
Persistent link: https://www.econbiz.de/10014238575
Using a dataset covering one quarter of the U.S. general-purpose credit card market, we document that 29% of accounts regularly make payments at or near the minimum payment. We exploit changes in issuers' minimum payment formulas to distinguish between liquidity constraints and anchoring as...
Persistent link: https://www.econbiz.de/10012981098
Using high-frequency transaction-level income, spending, balances, and credit limits data from an online financial service, we show that many consumers fail to stick to their self-set debt paydown plans and argue that this behavior is best explained by a model of present bias. Theoretically, we...
Persistent link: https://www.econbiz.de/10012913382
It has been long recognized that cash plays a critical role in fueling street crime due to its liquidity and … transactional anonymity. In poor neighborhoods where street offenses are concentrated, a significant source of circulating cash … circulation of cash on the streets associated with EBT implementation had an effect on crime. To address this question, we exploit …
Persistent link: https://www.econbiz.de/10013056577
We discuss prospects for innovation in consumer payment instruments. We discuss recent research into consumer payments and what can be learned about consumer behavior towards new payment options. We consider three new innovations in payments: mobile payments, faster payments and digital...
Persistent link: https://www.econbiz.de/10012988500
The 2020 CARES Act directed large cash payments to households. We analyze house-holds' spending responses using high …
Persistent link: https://www.econbiz.de/10012835110
Credit card debt is increasingly common among poor and inexperienced borrowers – thus de facto a financial inclusion product. However, it remains relatively under-studied. We use detailed card level data and a product that accounted for 15% of all first-time formal loans in Mexico and show...
Persistent link: https://www.econbiz.de/10012914257
We propose a new approach to studying the pass-through of credit expansion policies that focuses on frictions, such as asymmetric information, that arise in the interaction between banks and borrowers. We decompose the effect of changes in banks' cost of funds on aggregate borrowing into the...
Persistent link: https://www.econbiz.de/10013015102
This paper utilizes a unique new dataset of credit card accounts to analyze how people respond to changes in credit supply. The data consist of a panel of thousands of individual credit card accounts from several different card issuers, with associated credit bureau data. We estimate both...
Persistent link: https://www.econbiz.de/10012763150