A man in a blue button-down shirt and glasses holds a bill in his hand while sitting at the kitchen table.

Consumer Credit

Working Paper

Consumer Credit with Over-Optimistic Borrowers

WP 21-42 – Do cognitive biases call for regulation to limit the use of credit? We incorporate over-optimistic and rational borrowers into an incomplete markets model with consumer bankruptcy.

Featured Work

Consumer Credit

Working Paper

Financial Consequences of Severe Identity Theft in the U.S.

WP 21-41 – We examine how a negative shock from severe identity theft affects consumer credit market behavior in the United States.

Consumer Credit

Working Paper

Reducing Strategic Default in a Financial Crisis

WP 21-36 – We document that increasing penalties for default reduces strategic default in financial crises by exploiting the 2009 changes to Canadian consumer insolvency regulations.

Consumer Credit

Working Paper

Decomposing Gender Differences in Bankcard Credit Limits

WP 21-35 – In this paper, we examine if there are gender differences in total bankcard limits by utilizing a data set that links mortgage applicant information with individual-level credit bureau data from 2006 to 2016.