| 000 -LEADER |
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| fixed length control field |
01190nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
221207b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Carter, Susan Payne et al |
| 245 ## - TITLE STATEMENT |
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| Title |
Time to repay or time to delay: The effect of having more time before a payday loan is due |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
American Economic Journal: Applied Economics |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
14(4), Oct, 2022: p.91-126 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
We examine the effect of state laws on minimum payday loan durations that give some borrowers an additional pay cycle to repay their initial loan with no other changes to contract terms. Neoclassical models predict this "grace period" would reduce borrowers' need for costly loan rollovers. However, in reality, borrowers' repayment behavior with grace periods is very similar to borrowers with shorter loans, merely pushed out a few weeks. Potential explanations include heuristic repayment decisions and naive present focus. A calibrated model suggests that present-focused borrowers get less than one-half of the benefit from a grace period that time-consistent borrowers would. – Reproduced |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
American Economic Journal: Applied Economics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
LOANS |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
