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On May 10-11, the Becker Friedman Institute’s Consumer Finance Conference brought together micro- and macro-economists working in the field of consumer finance, with the goal of building bridges between researchers working on similar questions using different methodological approaches. Topics of interest included consumer borrowing (credit cards, payday loans, mortgages), savings and investment decisions, and personal bankruptcy, among others.


Friday, May 10, 2019
8:30 am - 9:00 am
Registration and Breakfast

Private Information and Credit Scoring

9:00 am - 9:50 am
Private Information and Price Regulation in the US Credit Card Market
Scott T. Nelson, University of Chicago
9:50 am - 10:40 am
Employer Credit Checks: Poverty Traps versus Matching Efficiency
Dean Corbae, University of Wisconsin-Madison
Andrew Glover (Presenter), University of Texas at Austin
10:40 am - 11:05 am


11:05 am - 11:55 am
Financial Inclusion and Contract Terms: Experimental Evidence from Mexico
Sara G. Castellanos, Banco de México
Diego Jiménez-Hernández, Stanford University
Aprajit Mahajan, University of California, Berkeley
11:55 am - 12:45 pm
Financial Access Under the Microscope
Sumit Agarwal, National University of Singapore
Thomas Kigabo, National Bank of Rwanda
Camelia Minoiu, Federal Reserve Board
Andrea Presbitero (Presenter), International Monetary Fund
André F. Silva, Federal Reserve Board
12:45 pm - 2:00 pm


2:00 pm - 2:50 pm
Why Do Borrowers Default on Mortgages? Evidence from High-Frequency Data
Peter Ganong, Assistant Professor, Harris Public Policy
Pascal Noel, Associate Professor of Finance, Booth School of Business
2:50 pm - 3:40 pm
Mortgage Prepayment and Path-Dependent Effects of Monetary Policy
David Berger, Northwestern University
Konstantin Milbradt, Northwestern University
Fabrice Tourre, Copenhagen Business School
Joseph Vavra (Presenter), University of Chicago
3:40 pm - 3:55 pm

Price Caps

3:55 pm - 4:45 pm
Regulatory Intervention in Consumer Search Markets: The Case of Credit Cards
Manolis Galenianos, University of London
Alessandro Gavazza (Presenter), London School of Economics
4:45 pm
Adjourn for the day
Saturday, May 11, 2019
8:30 am - 9:00 am
Registration and Breakfast

Consumption vs. Credit Smoothing

9:00 am - 9:50 am
Can the Unemployed Borrow? Implications for Public Insurance
J. Carter Braxton, University of Minnesota
Kyle Herkenhoff (Presenter), University of Minnesota
Gordon Phillips, Dartmouth
9:50 am - 10:40 am
Credit Smoothing
Sean Hundtofte (Presenter), Better Mortgage
Arna Olafsson, Copenhagen Business School
Michaela Pagel, Columbia University
10:40 am - 12:00 am

Defaults and the Business Cycle

11:05 am - 11:55 am
Credit Supply and Housing Speculation
Atif Mian, Princeton University
Amir Sufi (Presenter), University of Chicago
11:55 am - 12:45 pm
Consumer Bankruptcy as Aggregate Demand Management
Adrien Auclert, Stanford University
Kurt Mitman (Presenter), Institute for International Economic Studies
12:45 pm - 2:00 pm

Credit Histories

2:00 pm - 2:50 pm
Regulating Consumer Credit with Over-Optimistic Borrowers
Florian Exler, University of Vienna
Igor Livshits, Federal Reserve Bank of Philadelphia
James MacGee, University of Western Ontario
Michèle Tertilt (Presenter), University of Mannaheim
2:50 pm - 3:40 pm
The Equilibrium Effects of Information Deletion: Evidence from Consumer Credit Markets
Andres Liberman, New York University
Christopher Neilson, Princeton University
Luis Opazo, Chilean Banking Association
Seth Zimmerman (Presenter), University of Chicago
3:40 pm - 3:55 pm

Credit Histories II

3:55 pm - 4:45 pm
Building Credit History with Heterogeneously-Informed Lenders
Natalia Kovrijnykh, Arizona State University
Igor Livshits (Presenter), Federal Reserve Bank of Philadelphia
Ariel Zetlin-Jones, Carnegie Mellon University
4:45 pm
Conference concludes