We estimate how the marginal propensity to consume (MPC) out of liquidity varies over the
business cycle. Ten years after a Chapter 7 bankruptcy, the bankruptcy flag is removed from …

We provide evidence for a bias that we call “representative signal distortion”(RSD), which is
particularly relevant to settings of statistical discrimination. Experimental subjects distort their …

Households in develo** economies have greater access to formal credit today than at any
point in history, owing to the global expansion of microfinance and recent innovations in …

We examine how consumer credit affects entrepreneurship by linking three million earnings
and pass-through tax records to credit reports. In the cross-section, we show that self …

About half of US employers consider personal credit history when hiring, a practice that
connects individuals' prospects for employment to their financial pasts. Yet little is known …

When employers' explicit gender requests were unexpectedly removed from a Chinese job
board overnight, pools of successful applicants became more integrated: women's (men's) …

We examine the rise in student loan defaults in the Great Recession by linking
administrative student loan data at the individual borrower level to student loan borrowers' …

While survey evidence suggests widespread financial fragility in the US, causal evidence on
the implications of typical, negative income shocks is scarce. I estimate the impact of …

This article models a frictional labour market where employers endogenously discriminate
against the long-term unemployed. The estimated model replicates recent experimental …

We study the financial and labor market impacts of bad credit reports. Using difference‐in‐
differences variation from the staggered removal of bankruptcy flags, we show that …