Financing the Gig Economy
The gig economy is uniquely sensitive to household borrowing constraints on the extensive margin: When finance is unavailable to low-income households, these gains evaporate.
Credit Supply and Housing Speculation
Atif Mian and Amir Sufi
The surge in private label mortgage securitization in 2003 fueled a large expansion in mortgage credit supply by lenders financed with non-core deposits.
How do Americans repay their debt? The balance-matching heuristic
John Gathergood, Neale Mahoney, Neil Stewart, and Jörg Weber
By studying credit card repayments using linked data on multiple cards from the United Kingdom, the authors showed that individuals did not allocate payments to the higher interest rate card, which would minimize the cost of borrowing, but instead made repayments according to a balance-matching heuristic under which the share of repayments on each card is matched to the share of balances on each card.