To Pay or Autopay? Fintech Innovation and Credit Card Payments
In: NBER Working Paper No. w32332
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In: NBER Working Paper No. w32332
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In: NBER Working Paper No. w22742
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In: NBER Working Paper No. w22518
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In: NBER Working Paper No. w17807
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In: NBER Working Paper No. w14341
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In: Consumer Financial Protection Bureau Office of Research Reports Series No. 14-1
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In: FRL-D-23-00200
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In: University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-164
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In: NBER Working Paper No. w26254
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In: American economic review, Band 111, Heft 7, S. 2309-2341
ISSN: 1944-7981
A more generous consumer bankruptcy system provides greater insurance against financial risks but may also raise the cost of credit. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which increased the costs of filing for bankruptcy. We identify the effects of BAPCPA on borrowing costs using variation in the effects of the reform across credit scores. We find that a one-percentage-point reduction in bankruptcy filing risk decreased credit card interest rates by 70–90 basis points. Conversely, BAPCPA reduced the insurance value of bankruptcy, with uninsured hospitalizations 70 percent less likely to obtain bankruptcy relief after the reform. (JEL D18, G15, I13, K35)
In: HELIYON-D-23-39047
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