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- Publications
- Influence
Payday Loans and Credit Cards: New Liquidity and Credit Scoring Puzzles?
- S. Agarwal, P. M. Skiba, J. Tobacman
- Economics, Business
- 1 January 2009
Using a unique dataset matched at the individual level from two administrative sources, we examine household choices between liabilities and assess the informational content of prime and subprime… Expand
Payday Loan Choices and Consequences
- N. Bhutta, P. M. Skiba, J. Tobacman
- Economics
- 11 October 2012
High‐cost consumer credit has proliferated in the past two decades, raising regulatory scrutiny. We match administrative data from a payday lender with nationally representative credit bureau files… Expand
Payday Loans, Uncertainty and Discounting: Explaining Patterns of Borrowing, Repayment, and Default
- P. M. Skiba, J. Tobacman
- Economics
- 21 August 2008
Ten million American households borrowed on payday loans in 2002. Typically, to receive two weeks of liquidity from these loans households paid annualized (compounded) interest rates over 7000%.… Expand
Information Asymmetries in Consumer Credit Markets: Evidence from Payday Lending
- Will Dobbie, P. M. Skiba
- Economics
- 1 October 2013
Information asymmetries are prominent in theory but difficult to estimate. This paper exploits discontinuities in loan eligibility to test for moral hazard and adverse selection in the payday loan… Expand
The Ticket to Easy Street? The Financial Consequences of Winning the Lottery
- Scott R. Hankins, Mark L. Hoekstra, P. M. Skiba
- Review of Economics and Statistics
- 2011
This paper examines whether giving large cash transfers to financially distressed people causes them to avoid bankruptcy. A comparison of Florida Lottery winners who randomly received $50,000 to… Expand
Do Payday Loans Cause Bankruptcy?
- P. M. Skiba, J. Tobacman
- Business
- 9 November 2009
An estimated ten million American households borrow on payday loans each year. Despite the prevalence of these loans, little is known about the effects of access to this form of short-term, high-cost… Expand
The Pawn Industry and Its Customers: The United States and Europe
- M. Bos, S. Carter, P. M. Skiba
- Business
- 20 September 2012
As humankind’s oldest financial institution, pawnbroking has served the financial needs of low-income families for centuries. Recently, and especially in the last five years, an increasing number of… Expand
Payday Loan Choices and Consequences: NEIL BHUTTA, PAIGE MARTA SKIBA, AND JEREMY TOBACMAN
- N. Bhutta, P. M. Skiba, J. Tobacman
- Economics
- 1 March 2015
The Ticket to Easy Street? The Financial Consequences of Winning the Lottery
- Scott R. Hankins, Mark L. Hoekstra, P. M. Skiba
- Economics
- 26 March 2010
This paper examines whether giving large cash transfers to financially distressed people causes them to avoid bankruptcy. A comparison of Florida Lottery winners who randomly received $50,000 to… Expand
Pecuniary Mistakes? Payday Borrowing by Credit Union Members
- S. Carter, P. M. Skiba, J. Tobacman
- Business
- 11 November 2010
This chapter examines patterns of financial choices by a credit union’s members using transaction-level administrative data on checking, savings, and line-of-credit (LOC) accounts. We observe… Expand
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