We study the effects of COVID-19, and ensuing lockdown fiscal policies, on welfare different age-groups within a life-cycle macroeconomic scheme, adapted from Gertler (1999), where pandemic is represented as shock to mortality rate. obtain two main results. First, we show that policies have negative impact dynamics economic younger agents relative older agents, thus providing analytical support...

In this paper, we study the effect of legal reforms and institutional changes on credit market development and the low level of unpaid debt in the Chilean banking sector. Using time series data on yearly basis (1960-1997), we conclude that both information sharing and deep financial market liberalization during the seventies are positively related to the credit market development. Moreover, usi...

While emerging economies have seen an explosion of social network site (SNS) adoption, these countries lack sophisticated credit scoring system or credit bureaus to predict creditworthiness of individuals. In this paper, we propose an SNS-based credit scoring method for micro loans using largescale observational data. We show empirical evidence that by incorporating social network metrics, we c...

This study examines the impact of capital structure on agency costs in 211 non-financial Chinese listed firms for the period 1999-2001. There are two main findings. (1) Firms with high debt to asset ratio have high ratio of annual sales to total assets and high ratio of return-on-equity. If a firm has a high debt to asset ratio, creditors are much more concerned about the payment of interest an...

Lenders condition future loans on some index of past performance. Typically, banks condition future loans on repayments of earlier obligations while international organizations condition future loans on the implementation of some policy conditions. We build an agency model that accounts for these tendencies to offer an explanation for why both types of conditionality clause may coexist. The opt...

Previous studies suggest that a college degree is the great equalizer leveling playing field. However, rapidly growing educational debt of graduates might restrict their life chances throughout adulthood, particularly for those raised in socioeconomically disadvantaged families. This study uses data from National Survey College Graduates to examine whether parents’ socioeconomic status related ...

Abstract Subject and purpose of work: The paper focuses on the problems faced by farmers in obtaining repaying loans from institutional non-institutional sources. Materials methods: study was conducted Haryana state, India. It based a field survey involving 600 farmers. Proportionate sampling technique employed pre-tested schedules were filled during vis-a-vis interviews. Results: T he f inding...