We link consumer credit bureau data to data on household demographics and consumption choices. We show that financial stress not only changes how and where consumers shop, but it also affects the types and quality of food they buy. Consumers exhibit a dramatic shift toward purchasing cheap,...

This paper uses detailed data from an online peer-to-peer lending intermediary to test whether local access to finance affects consumers' willingness to pay for loans. After controlling for local economic conditions and borrower credit quality, we find that borrowers who reside in areas with...