Details about Sumit Agarwal

Access statistics for papers by Sumit Agarwal.

Last updated 2022-10-26. Update your information in the RePEc Author Service.

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Working Papers

2024

1. Noisy Experts? Discretion in Regulation
   NBER Working Papers, National Bureau of Economic Research, Inc

2023

2. The Opioid Epidemic and Consumer Credit Supply: Evidence from Credit Cards
   Working Papers, Federal Reserve Bank of Philadelphia
3. Who Pays For Your Rewards? Redistribution in the Credit Card Market
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)

2022

4. Reducing Strategic Default in a Financial Crisis
   Working Papers, Federal Reserve Bank of Philadelphia

2021

5. Modeling to Inform Economy-Wide Pandemic Policy: Bringing Epidemiologists and Economists Together
   FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta
6. Serving the Underserved: Microcredit as a Pathway to Commercial Banks
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)

2020

7. Bank Stress Test Results and Their Impact on Consumer Credit Markets
   Working Papers, Federal Reserve Bank of Philadelphia View citations (3)
8. Owe a Bank Millions, the Bank Has a Problem: Credit Concentration in Bad Times
   International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
9. Searching for Approval
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)

2019

10. Do Minimum Wage Increases Benefit Intended Households? Evidence from the Performance of Residential Leases
    Working Papers, Federal Reserve Bank of Philadelphia View citations (3)

2018

11. Does the Relative Income of Peers Cause Financial Distress? Evidence from Lottery Winners and Neighboring Bankruptcies
    Working Papers, Federal Reserve Bank of Philadelphia View citations (5)
12. Peers’ Income and Financial Distress: Evidence from Lottery Winners and Neighboring Bankruptcies
    Working Papers, Federal Reserve Bank of Philadelphia

2017

13. Consumer Mobility and the Local Structure of Consumption Industries
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)

2016

14. Does inequality cause financial distress? Evidence from lottery winners and neighboring bankruptcies
    Working Papers, Federal Reserve Bank of Philadelphia View citations (4)
15. Loan Product Steering in Mortgage Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)

2015

16. Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
17. Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinancing Program
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (52)

2014

18. Holdup by Junior Claimholders: Evidence from the Mortgage Market
    NBER Working Papers, National Bureau of Economic Research, Inc
19. Loan Prospecting and the Loss of Soft Information
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
20. The Effectiveness of Mandatory Mortgage Counseling: Can One Dissuade Borrowers from Choosing Risky Mortgages?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)

2013

21. Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2012) View citations (2)
22. Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
    Working Paper Series, Federal Reserve Bank of Chicago View citations (30)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2012) View citations (36)
    NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (39)
23. Predatory Lending and the Subprime Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2012) View citations (1)
    See also Journal Article Predatory lending and the subprime crisis, Journal of Financial Economics, Elsevier (2014) View citations (33) (2014)
24. Regulating Consumer Financial Products: Evidence from Credit Cards
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    See also Journal Article Regulating Consumer Financial Products: Evidence from Credit Cards, The Quarterly Journal of Economics, President and Fellows of Harvard College (2015) View citations (128) (2015)
25. Rushing into American Dream? House Prices, Timing of Homeownership, and Adjustment of Consumer Credit
    Working Paper Series, Federal Reserve Bank of Chicago View citations (2)
26. Why do borrowers make mortgage refinancing mistakes?
    Working Paper Series, Federal Reserve Bank of Chicago View citations (4)

2012

27. Did the Community Reinvestment Act (CRA) Lead to Risky Lending?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (42)
28. Do Loan Officers' Incentives Lead to Lax Lending Standards?
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (29)
29. Inconsistent Regulators: Evidence From Banking
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
30. Optimal Mortgage Reï¬ nancing: A Closed Form Solution
    Scholarly Articles, Harvard University Department of Economics View citations (1)
31. Spending responses to state sales tax holidays
    Working Paper Series, Federal Reserve Bank of Chicago View citations (4)

2011

32. Cognitive abilities and household financial decision making
    Working Paper Series, Federal Reserve Bank of Chicago View citations (5)
    See also Journal Article Cognitive Abilities and Household Financial Decision Making, American Economic Journal: Applied Economics, American Economic Association (2013) View citations (174) (2013)
33. Does Mandatory Loan Review Affect Mortgage Contract Choice and Performance?
    NFI Working Papers, Indiana State University, Scott College of Business, Networks Financial Institute
34. Market-based loss mitigation practices for troubled mortgages following the financial crisis
    Working Paper Series, Federal Reserve Bank of Chicago View citations (24)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2010) View citations (8)
35. The Role of Securitization in Mortgage Renegotiation
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (95)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2011) View citations (80)
    See also Journal Article The role of securitization in mortgage renegotiation, Journal of Financial Economics, Elsevier (2011) View citations (88) (2011)

2010

36. Benefits of relationship banking: evidence from consumer credit markets
    Working Paper Series, Federal Reserve Bank of Chicago View citations (13)
37. Pension Participation and Uncovered Workers
    Issues in Brief, Center for Retirement Research
38. Why do banks reward their customers to use their credit cards?
    Working Paper Series, Federal Reserve Bank of Chicago View citations (14)

2009

39. Do financial counseling mandates improve mortgage choice and performance? Evidence from a legislative experiment
    Working Paper Series, Federal Reserve Bank of Chicago View citations (13)
40. Learning to Cope: Voluntary Financial Education Programs and Loan Performance during a Housing Crisis
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics
41. Payday Loans and Credit Cards: New Liquidity and Credit Scoring Puzzles?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (80)
    See also Journal Article Payday Loans and Credit Cards: New Liquidity and Credit Scoring Puzzles?, American Economic Review, American Economic Association (2009) View citations (78) (2009)
42. Perverse incentives at the banks? Evidence from a natural experiment
    Working Paper Series, Federal Reserve Bank of Chicago View citations (24)
43. The Age of Reason: Financial Decisions over the Life-Cycle with Implications for Regulation
    Scholarly Articles, Harvard University Department of Economics View citations (168)
44. What is the Age of Reason?
    Issues in Brief, Center for Retirement Research View citations (1)

2008

45. Does it pay to read your junk mail? evidence of the effect of advertising on home equity credit choices
    Working Paper Series, Federal Reserve Bank of Chicago View citations (2)
46. Learning in the Credit Card Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
    Also in Levine's Working Paper Archive, David K. Levine (2008) View citations (64)
47. Optimal Mortgage Refinancing: A Closed Form Solution
    Levine's Working Paper Archive, David K. Levine View citations (9)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (15)
    See also Journal Article Optimal Mortgage Refinancing: A Closed-Form Solution, Journal of Money, Credit and Banking, Blackwell Publishing (2013) View citations (49) (2013)
48. Summary of \"benefits of relationship banking: evidence from consumer credit markets\"
    Proceedings, Federal Reserve Bank of Chicago View citations (2)
49. The Age of Reason: Financial Decisions Over the Lifecycle
    2008 Meeting Papers, Society for Economic Dynamics View citations (10)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (89)
    Working Paper Series, Federal Reserve Bank of Chicago (2007) View citations (66)
50. The Consumption Response to Minimum Wage Hikes
    2008 Meeting Papers, Society for Economic Dynamics View citations (1)
51. The Effects of Mandated Financial Counseling on Household Mortgage Decisions: Evidence from a Natural Experiment
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics
52. The Efficiency of Internal Capital Markets: Evidence from the Annual Capital Expenditure Survey
    Working Papers, U.S. Census Bureau, Center for Economic Studies
    See also Journal Article The efficiency of internal capital markets: Evidence from the Annual Capital Expenditure Survey, The Quarterly Review of Economics and Finance, Elsevier (2011) View citations (2) (2011)
53. The choice between arm's-length and relationship debt: evidence from e-loans
    Working Paper Series, Federal Reserve Bank of Chicago View citations (8)
54. The consumption response to minimum wage increases
    Working Paper Series, Federal Reserve Bank of Chicago View citations (2)

2007

55. Distance and information asymmetries in lending decisions
    Proceedings, Federal Reserve Bank of Chicago View citations (26)
56. The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (278)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2007) View citations (255)
    Working Papers, Federal Reserve Bank of Philadelphia (2007) View citations (249)
    See also Journal Article The Reaction of Consumer Spending and Debt to Tax Rebates-Evidence from Consumer Credit Data, Journal of Political Economy, University of Chicago Press (2007) View citations (277) (2007)

2006

57. Do consumers choose the right credit contracts?
    Working Paper Series, Federal Reserve Bank of Chicago View citations (28)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2005) View citations (6)

2004

58. Loan commitments and private firms
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (12)

2003

59. Earnings Management During Distinct Periods of Capital Demand – Evidence from Japanese Banks
    FHFA Staff Working Papers, Federal Housing Finance Agency View citations (1)

Journal Articles

2016

1. How Did the Great Recession Affect Payday Loans?
   Economic Perspectives, 2016, (2), 1-12 View citations (5)

2015

2. Regulating Consumer Financial Products: Evidence from Credit Cards
   The Quarterly Journal of Economics, 2015, 130, (1), 111-164 View citations (128)
   See also Working Paper Regulating Consumer Financial Products: Evidence from Credit Cards, NBER Working Papers (2013) View citations (11) (2013)

2014

3. A Simple Framework for Estimating Consumer Benefits from Regulating Hidden Fees
   The Journal of Legal Studies, 2014, 43, (S2), S239 - S252 View citations (14)
4. Consumption and Debt Response to Unanticipated Income Shocks: Evidence from a Natural Experiment in Singapore
   American Economic Review, 2014, 104, (12), 4205-30 View citations (187)
5. Homebuilders, Affiliated Financing Arms and the Mortgage Crisis
   Economic Perspectives, 2014, (Q II), 38-51
6. Predatory lending and the subprime crisis
   Journal of Financial Economics, 2014, 113, (1), 29-52 View citations (33)
   See also Working Paper Predatory Lending and the Subprime Crisis, NBER Working Papers (2013) View citations (3) (2013)

2013

7. Cognitive Abilities and Household Financial Decision Making
   American Economic Journal: Applied Economics, 2013, 5, (1), 193-207 View citations (174)
   See also Working Paper Cognitive abilities and household financial decision making, Working Paper Series (2011) View citations (5) (2011)
8. Optimal Mortgage Refinancing: A Closed-Form Solution
   Journal of Money, Credit and Banking, 2013, 45, (4), 591-622 View citations (49)
   See also Working Paper Optimal Mortgage Refinancing: A Closed Form Solution, Levine's Working Paper Archive (2008) View citations (9) (2008)

2012

9. Adverse selection in mortgage securitization
   Journal of Financial Economics, 2012, 105, (3), 640-660 View citations (80)
10. The Spending and Debt Response to Minimum Wage Hikes
    American Economic Review, 2012, 102, (7), 3111-39 View citations (107)
11. Thy Neighbor’s Mortgage: Does Living in a Subprime Neighborhood Affect One’s Probability of Default?
    Real Estate Economics, 2012, 40, (1), 1-22 View citations (25)

2011

12. Consumer bankruptcy and default: The role of individual social capital
    Journal of Economic Psychology, 2011, 32, (4), 632-650 View citations (28)
13. How do private firms use credit lines?
    Economic Perspectives, 2011, 35, (Q II), 71-79 View citations (1)
14. THE BROKERAGE FIRM EFFECT IN HERDING: EVIDENCE FROM INDONESIA
    Journal of Financial Research, 2011, 34, (3), 461-479 View citations (4)
15. The Role of Soft Information in a Dynamic Contract Setting: Evidence from the Home Equity Credit Market
    Journal of Money, Credit and Banking, 2011, 43, (4), 633-655 View citations (25)
16. The Term Structure of Lease Rates with Endogenous Default Triggers and Tenant Capital Structure: Theory and Evidence
    Journal of Financial and Quantitative Analysis, 2011, 46, (2), 553-584 View citations (9)
17. The asset-backed securities markets, the crisis, and TALF
    Profitwise, 2011, (Apr), 8-18
    Also in Economic Perspectives, 2010, 34, (Q IV), 101-115 (2010) View citations (9)
18. The efficiency of internal capital markets: Evidence from the Annual Capital Expenditure Survey
    The Quarterly Review of Economics and Finance, 2011, 51, (2), 162-172 View citations (2)
    See also Working Paper The Efficiency of Internal Capital Markets: Evidence from the Annual Capital Expenditure Survey, Working Papers (2008) (2008)
19. The role of securitization in mortgage renegotiation
    Journal of Financial Economics, 2011, 102, (3), 559-578 View citations (88)
    See also Working Paper The Role of Securitization in Mortgage Renegotiation, Working Paper Series (2011) View citations (95) (2011)

2010

20. Distance and Private Information in Lending
    The Review of Financial Studies, 2010, 23, (7), 2757-2788 View citations (533)
21. Learning to Cope: Voluntary Financial Education and Loan Performance during a Housing Crisis
    American Economic Review, 2010, 100, (2), 495-500 View citations (40)
22. Rescuing asset-backed securities markets
    Chicago Fed Letter, 2010, (Jan) View citations (1)
23. The Importance of Adverse Selection in the Credit Card Market: Evidence from Randomized Trials of Credit Card Solicitations
    Journal of Money, Credit and Banking, 2010, 42, (4), 743-754 View citations (40)
24. Why aren't banks lending more? the role of commercial real estate
    Chicago Fed Letter, 2010, (Dec)

2009

25. Payday Loans and Credit Cards: New Liquidity and Credit Scoring Puzzles?
    American Economic Review, 2009, 99, (2), 412-17 View citations (78)
    See also Working Paper Payday Loans and Credit Cards: New Liquidity and Credit Scoring Puzzles?, NBER Working Papers (2009) View citations (80) (2009)
26. The Age of Reason: Financial Decisions over the Life Cycle and Implications for Regulation
    Brookings Papers on Economic Activity, 2009, 40, (2 (Fall)), 51-117 View citations (257)
27. Why do foreign investors underperform domestic investors in trading activities? Evidence from Indonesia
    Journal of Financial Markets, 2009, 12, (1), 32-53 View citations (36)

2008

28. Determinants of automobile loan default and prepayment
    Economic Perspectives, 2008, 32, (Q III), 17-28 View citations (8)
29. Do Forbearance Plans Help Mitigate Credit Card Losses?
    Journal of Family and Economic Issues, 2008, 29, (2), 191-201 View citations (3)
30. Electrical and thermal properties of Pr 2/3 (Ba 1−x Cs x ) 1/3 MnO 3 manganites
    The European Physical Journal B: Condensed Matter and Complex Systems, 2008, 65, (2), 179-186
31. Investor demand for IPOs and aftermarket performance: Evidence from the Hong Kong stock market
    Journal of International Financial Markets, Institutions and Money, 2008, 18, (2), 176-190 View citations (37)

2007

32. Comparing the prime and subprime mortgage markets
    Chicago Fed Letter, 2007, (Aug) View citations (5)
33. Earnings management behaviors under different economic environments: Evidence from Japanese banks
    International Review of Economics & Finance, 2007, 16, (3), 429-443 View citations (19)
34. Technology transfer perspectives in globalising India (drugs and pharmaceuticals and biotechnology)
    The Journal of Technology Transfer, 2007, 32, (4), 397-423 View citations (6)
35. The Reaction of Consumer Spending and Debt to Tax Rebates-Evidence from Consumer Credit Data
    Journal of Political Economy, 2007, 115, (6), 986-1019 View citations (277)
    See also Working Paper The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data, NBER Working Papers (2007) View citations (278) (2007)
36. Where does price discovery occur for stocks traded in multiple markets? Evidence from Hong Kong and London
    Journal of International Money and Finance, 2007, 26, (1), 46-63 View citations (19)

2006

37. An empirical analysis of home equity loan and line performance
    Journal of Financial Intermediation, 2006, 15, (4), 444-469 View citations (23)
38. Credit Lines and Credit Utilization
    Journal of Money, Credit and Banking, 2006, 38, (1), 1-22 View citations (46)

2005

39. The impact of the 2001 financial crisis and the economic policy responses on the Argentine mortgage market
    Journal of Housing Economics, 2005, 14, (3), 242-270 View citations (6)

2004

40. Financial markets and the financing choice of firms: Evidence from developing countries
    Global Finance Journal, 2004, 15, (1), 57-70 View citations (33)
41. Telecommunications and economic growth: a panel data approach
    Applied Economics, 2004, 36, (15), 1649-1654 View citations (125)

2003

42. Determinants of credit card delinquency and bankruptcy: Macroeconomic factors
    Journal of Economics and Finance, 2003, 27, (1), 75-84 View citations (27)
43. Exemption laws and consumer delinquency and bankruptcy behavior: an empirical analysis of credit card data
    The Quarterly Review of Economics and Finance, 2003, 43, (2), 273-289 View citations (35)