This chapter reviews the recent developments in the bunching literature, both when
bunching appears in the outcome variable and when it appears in the treatment variable …

There are two prevailing theories of borrower default: strategic default—when debt is too
high relative to the value of the house—and adverse life events—such that the monthly …

There are three prevailing theories of mortgage default: strategic default (driven by negative
equity), cash flow default (driven by negative life events), and double-trigger default (where …

Using property transaction and financing data, we document large cross-sectional
differences in how effective houses are as collateral for mortgages. Older and less …

This study uses listed companies and dialect data to examine how dialect diversity affects
corporate unsecured loans. Through our analysis, we find that dialect diversity significantly …

We estimate the causal effect of emergency credit on households' finances after a negative
shock. To do so, we link application data from the US Federal Disaster Loan program, which …

We quantify the cost of pledging collateral for small businesses by exploiting a regulatory
quirk of the SBA disaster lending program in which firms are exempt from posting collateral if …

Severe climate events pose an increasing threat to households' financial well-being.
Households affected by these events can face a significant financing challenge as disaster …

We show that forcing insolvent consumer debtors to repay a larger fraction of debt causes
them to strategically manipulate the data they report to creditors. Exploiting a policy change …

Abstract: We review the recent developments in the bunching literature, both when bunching
is presented in the outcome variable and when it is presented in the treatment variable. We …