Scaling up home energy retrofits requires that associated loans be priced efficiently. Using a unique dataset of posted loan prices scraped from online simulators made available by French credit institutions, we examine the differentiation interest rates in relation to project risk. Crucially, our data are immune sorting bias based on borrower characteristics. We find greener, arguably less ris...

This paper presents an analysis of mortgage delinquency between 2004 and 2008 using a loan-level data set from a major national mortgage bank. Our analysis highlights two problems underlying the mortgage crisis: a reliance on mortgage brokers who tend to originate lowerquality loans and a prevalence of low-documentation loans—known in the industry as ‘‘liar’s loans’’—that result in borrower inf...

Repayment versus Investment Conditions and Exclusivity in Lending Contracts Lenders condition future loans on some index of past performance. Typically, banks condition future loans on repayments of earlier obligations whilst international organizations (official lenders) condition future loans on the implementation of some policy action (‘investment’). We build an agency model that accounts fo...

Structural adjustment, as measured by the number of adjustment loans from the IMF and World Bank, reduces the growth elasticity of poverty reduction. Growth does reduce poverty, but I find no evidence for a direct effect of structural adjustment on growth. Instead, the poor benefit less from output expansion in countries with many adjustment loans than in countries with few adjustment loans. By...

On the example of a commercial microfinance institution (MFI) in Tanzania this paper investigates first whether agricultural firms have a different probability to get a loan and whether their loans are differently volume rationed than loans to non-agricultural firms. Second, we analyze whether agricultural firms repay their loans with different delinquencies than non-agricultural firms. Our res...

This study aims to analyse whether library loan statistics can be used as a measure of monograph use and as a selection criterion for inclusion in citation indexes. For this, we conducted an exploratory study based on loan data (1000 most borrowed monographs) from two non-Anglo-Saxon European university libraries (Granada and Vienna) with strong social sciences and humanities components. Loans ...

The purpose of this paper is to present some results about the determinants of book-loans from local public libraries in Norway. The investigation is based on quasi-demand functions where travel time, as an indicator of the shadow price of book-loans, average personal income, information on the book stock, and on other media available at the library, are main explanatory variables. We use panel...

We study borrowers’ optimal choice between formal and informal sources of credit in a setting with strategic default due to limited enforcement. Informal loans (e.g., from friends or relatives) can be enforced by the threat of severing social ties which hurts both the borrower and the lender, while formal loans (e.g., from banks) are enforced by requiring collateral. We show that in this settin...