Fintech Lending: Financial Inclusion, Risk Pricing, and Alternative Information FRB of Philadelphia (2017-07-24)
Fintech has been playing an increasing role in shaping financial and banking landscapes. Banks have been concerned about the uneven playing field because fintech lenders are not subject to the same rigorous oversight. Th .. more |
The Geography of Consumption NBER (2017-07-24)
We use detailed information from U.S. consumers' credit card purchases to provide the first large-scale description of the geography of consumption. We find that consumers' mobility is quite limited and document signific .. more |
Behavioral Biases in Firm's Growth Expectations BOJ (2017-07-24)
This paper provides evidence that firms exhibit behavioral biases in their growth expectations. Using firm-level survey data, we document that optimism and pessimism biases are generated by the business cycle, financial .. more |