gave me a better understanding of the processes analyzed in this paper. Scott McNiven provided excellent research assistance, and Celine Castillo-Macy helped finalize the document. All errors and omissions are mine. ABSTRACT Using a longitudinal data set from Bukidnon, Philippines, this paper explores the impact of past credit constraints on asset holdings, intergenerational transfers, and cons...

We study the terms of credit in a competitive market in which sellers (lenders) are willing to repeatedly …nance the purchases of buyers (borrowers) by engaging in a credit relationship. The key frictions are: (i) the lender is unable to observe the borrower’s ability to repay a loan; (ii) the borrower cannot commit to any long-term contract; (iii) it is costly for the lender to contact a borro...

Several economic models have described the theoretical causes and consequences of ‘credit rationing’ and ‘under-investment. This literature shows the long-run effects of initial wealth distribution and entrepreneurial ability on the process of occupational choice and performance, and its consequences on inequality. Surprisingly, there is very little micro-level evidence on the existence and eff...

In this paper, the relationship between financial literacy and household consumption is empirically analyzed by using The Chinese Family Micro Database (CHFS), structure of households subdivided into survival consumption, development enjoyment respectively, to study impact on different structures. mediating effect credit constraint factors studied moderating digital finance explored. results sh...

This study proposes a new multi-item inventory model with hybrid cost parameters under a fuzzy-stochastic constraint and permissible delay in payment. The price and marketing expenditure dependent stochastic demand and the demand dependent the unit production cost are considered. Shortages are allowed and partially backordered. The main objective of this paper is to determine selling price, mar...