Agenda

The two-day conference will consist of six panels of researchers presenting their work in various areas of consumer finance with members of the CFPB’s Office of Research serving as discussants.

Thursday, May 3, 2018

Discussant: Scott Nelson (CFPB and Massachusetts Institute of Technology)

Paper 1

Liquidity and Insurance in Student Loan Contracts: Estimating the Effects of Income-Driven Repayment on Default and Consumption
Presenter/author: Daniel Herbst (Princeton University)

Paper 2

Credit Smoothing
Presenter/author: Sean Hundtofte (Federal Reserve Bank of New York)
Co-authors: Arna Olafsson (Copenhagen Business School), Michaela Pagel (Columbia University, NBER and CEPR)

Paper 3

The Costs of Financial Mistakes: Evidence from U.S. Consumers
Presenter/author: Adam T. Jorring (University of Chicago)

Poster session and break (30 minutes)

Discussant: Eva Nagypal (CFPB)

Paper 1

Can the Unemployed Borrow? Implications for Public Insurance
Presenter/author: Kyle Herkenhoff (University of Minnesota)
Co-authors: J. Carter Braxton (University of Minnesota), Gordon Phillips (Dartmouth College, University of Maryland and NBER)

Paper 2

Employer Credit Checks: Poverty Traps versus Matching Efficiency
Presenter/author: Andrew Glover (University of Texas-Austin)
Co-author: Dean Corbae (University of Wisconsin-Madison and NBER)

Conversation with Thomas Durkin

The Truth in Lending Act turns 50 years old in May 2018. To mark the occasion, we will discuss the history of consumer financial research and regulation with Thomas Durkin.  Thomas A. Durkin has had a long career at the intersection of economics and regulation of consumer financial services, in the federal government as Senior Economist at the Federal Reserve Board, in the academic area as Associate Professor of Finance at the Pennsylvania State University, and in the private sector as Chief Economist of the American Financial Services Association.  He is the author of numerous articles and two recent books, Consumer Credit and the American Economy (w/ Elliehausen, ‎ Staten, and Zywicki) and Truth in Lending: Theory, History, and a Way Forward (w/ Elliehausen). 

Moderator: Ron Borzekowski, Assistant Director for Research, CFPB

Discussant: Judie Ricks (CFPB)

Paper 1

Perception of House Price Risk and Homeownership 
Presenter/author: Manuel Adelino (Duke University, CEPR and NBER)
Co-authors: Antoinette Schoar (MIT, CEPR and NBER), Felipe Severino (Dartmouth College)

Paper 2

Selection, Leverage, and Default in the Mortgage Market 
Presenter/author: Christopher Hansman (Imperial College London)
Co-author: Arpit Gupta (New York University)

Poster session and break (30 minutes)

Discussant: Brianna Middlewood (CFPB)

Paper 1

Borrowing to Save? The Impact of Automatic Enrollment on Debt
Presenter/author: William L. Skimmyhorn (United States Military Academy)
Co-authors: James J. Choi (Yale University and NBER), David Laibson (Harvard University and NBER), Brigitte C. Madrian (Harvard University and NBER), John Beshears (Harvard University and NBER)

Paper 2

Credit Building or Credit Crumbling? A Credit Builder Loan’s Effects on Credit Scores and Their Predictive Power
Presenter/author: Jonathan Zinman (Dartmouth College)
Co-authors: Jeremy Burke (University of Southern California), Julian Jamison (Global Insights Initiative), Dean Karlan (Northwestern University), Kata Mihaly (RAND Corporation)

Paper 3

Does Knowing Your FICO Score Change Financial Behavior? Evidence from a Field Experiment with Student Loan Borrowers
Presenter/author: Rourke O’Brien (University of Wisconsin-Madison)
Co-authors: Tatiana Homonoff (New York University), Abigail B. Sussman (University of Chicago)

Friday, May 4, 2018

Discussant: Daniel Grodzicki (Pennsylvania State University)

Paper 1

Credit-Driven Crime Cycles: The Connection Between Incarceration and Access to Credit
Presenter/author: Carlos F. Avenancio-Leon (UC Berkeley)
Co-author: Abhay P. Aneja (UC Berkeley)

Paper 2

Debt Collection and Settlement: Do Borrowers Under-Utilize the Court System?
Presenter/author: Ing-Haw Cheng (Dartmouth College)
Co-authors: Felipe Severino (Dartmouth College), Richard Townsend (UC San Diego)

Paper 3

Credit Where Credit is Due: Drivers of Subprime Credit
Presenter/author: Erik J. Mayer (Rice University)
Co-authors: Alexander W. Butler (Rice University), Elizabeth A. Berger (Cornell University)

Poster session and break (30 minutes)

Discussant:  Sergey Kulaev (CFPB)

Paper 1

Interest Rates: Lost in Translation
Presenter/author: Mary Zaki (University of Maryland)

Paper 2

The Effect of Interest Rates on Home Buying: Evidence from a Discontinuity in Mortgage Insurance Premiums
Presenter/author: Neil Bhutta (Federal Reserve Board)
Co-author: Daniel Ringo (Federal Reserve Board)