Abstract This paper provides a rationale for one of the most widely practised mechanisms by microfinance institutions (MFIs)—simultaneous borrowing and saving. Unlike existing literature, our explanation does not involve any behavioral aspect. We study dynamic relationship between benevolent MFI borrower who is subject to an ex post moral hazard problem. The optimum contract involves simultaneo...

the purpose of this study is to assess the transaction cost of borrowing from non-governmental investment development funds which are established in less than a decade. transaction costs are considered as significant and limiting factors for micro-borrowers in using formal loans. the required data are provided by the investment developing support’s parent company using the stratified random sam...

the division of possession into a trustful and liable one is a mechanism from the legislator to define the responsibility of a person possesses the other's property. the possessor of the other's property is held responsible for the property itself and its benefits regardless of whether he has used it or not. although a trust possessor is not responsible for damages caused to the trust...

Health insurance plans increasingly pay for expenses only beyond a large annual deductible. This paper explores the implications of deductibles that reset over shorter timespans. We develop model demand between two actuarially equivalent deductible policies, in which one is larger and resets annually other smaller biannually. Our incorporates borrowing constraints, moral hazard, mid-year contra...

We formulate and study the requirement on an allocation rule that no agent should be able to benefit by augmenting his endowment through borrowing resources from the outside world (alternatively, by simply exaggerating it). We show that the Walrasian rule is not “borrowing-proof” even on standard domains. More seriously, no efficient selection from the endowments-lower-bound correspondence, or ...

AbstractOne of the manifestation emergence financial technology is innovation lending and borrowing money services based on information technology. This service provided by company, there are company that illegal legal. One provider widely complained suspected to be violating provisions DanaRupiah organizer. In case default due inability borrower repay or system failure held organizer, billing ...

The cash-flow exposure of banks to interest rate risk, or income gap, is a significant determinant the transmission monetary policy bank lending and real activity. When Fed Funds rises, with larger gap generate stronger earnings contract their by less than other banks. This finding robust controlling for factors known affect lending. It also holds on loan-level data, even when we control firm-s...

Why do some international courts and judges extensively borrow from other international courts while others do not? Answers to this question have important implications for debates on transjudicial communication, the diffusion of international legal norms, and international judicial behavior. Judges may use external sources because they help improve decisions or because it fits their ideologica...