Using micro-level data from the mortgage market, we examine yield spreads as a funnction of both credit risk and prepayment risk using a two-stage instrumental variable approach. Our results are consistent with findings in the finance literature that leverageinduced financial risk reflected in capital structure results in higher yield spreads on debt. In particular, borrowers with loan-to-value...

since 1980s, credit policy has been promoted as an important mechanism in job creation, especially for women. however, some researchers have showed that although microfinance programs have significant potential for contributing to women’s wellbeing, yet, many women borrowers have limited control over loans and/or resulted income. in such cases credit policy may not change women status. women’s ...

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions making the choice of payment method interesting also imply equilibrium price dispersion, and together these deliver closed-form solutions for money demand. The model can ...

The formulation of the problem in this thesis is whether there an effect using funds to increase profit micro business customers PT. Bank Bukopin Medan Setia Budi Branch, any amount credit on increasing burden procedure Branch. This study aims determine use funds, credit, burden, and procedures type research associative with a quantitative approach. sample amounted 69 KUR from analysis techniqu...

P eople’s business credit program (KUR) has been launched to alleviate poverty through provision of micro financing to micro entrepreneurs in Indonesia This study aims to estimate the impact of KUR program using cross-sectional data and propensity score matching technique (PSM). The survey was conducted on 332 household entrepreneurs, consisting of 155 KUR receivers and 177 non-KUR r...