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Adverse selection, search costs and sticky credit card rates

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  • Ayadi, O. Felix
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    File URL: http://www.sciencedirect.com/science/article/B6W4D-478FFW4-7/2/38545c5a8d00f5453259b5137e64f60b
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    Bibliographic Info

    Article provided by Elsevier in its journal Financial Services Review.

    Volume (Year): 6 (1997)
    Issue (Month): 1 ()
    Pages: 53-67

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    Handle: RePEc:eee:finser:v:6:y:1997:i:1:p:53-67

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    Web page: http://www.rmi.gsu.edu/FSR/FSRhome.htm

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    References

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    1. Randall J. Pozdena, 1991. "Solving the mystery of high credit card rates," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue nov29.
    2. Paul S. Calem, 1992. "The strange behavior of the credit card market," Business Review, Federal Reserve Bank of Philadelphia, issue Jan, pages 3-14.
    3. Glenn B. Canner & Charles A. Luckett, 1992. "Developments in the pricing of credit card services," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Sep, pages 652-666.
    4. Sullivan, A. Charlene & Worden, Debra Drecnik, 1995. "Credit cards and the option to default," Financial Services Review, Elsevier, vol. 4(2), pages 123-136.
    5. Paul S. Calem & Loretta J. Mester, 1992. "Search, switching costs, and the stickiness of credit card interest rates," Working Papers 92-24, Federal Reserve Bank of Philadelphia.
    6. Andrea Meyercord, 1994. "Recent trends in the profitability of credit card banks," Quarterly Review, Federal Reserve Bank of New York, issue Sum, pages 107-111.
    7. Lown, Cara & Peristiani, Stavros, 1996. "The behavior of consumer loan rates during the 1990 credit slowdown," Journal of Banking & Finance, Elsevier, vol. 20(10), pages 1673-1694, December.
    8. Berlin, Mitchell & Loeys, Jan, 1988. " Bond Covenants and Delegated Monitoring," Journal of Finance, American Finance Association, vol. 43(2), pages 397-412, June.
    9. John V. Duca & William C. Whitesell, 1991. "Credit cards and money demand: a cross-sectional study," Research Paper 9112, Federal Reserve Bank of Dallas.
    10. Glenn B. Canner & James T. Fergus, 1987. "The economic effects of proposed ceilings on credit card interest rates," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jan, pages 1-13.
    11. Joanna Stavins, 1996. "Can demand elasticities explain sticky credit card rates?," New England Economic Review, Federal Reserve Bank of Boston, issue Jul, pages 43-54.
    12. Denis Kwiatkowski & Peter C.B. Phillips & Peter Schmidt, 1991. "Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root: How Sure Are We That Economic Time Series Have a Unit Root?," Cowles Foundation Discussion Papers 979, Cowles Foundation for Research in Economics, Yale University.
    13. Berlin, Mitchell & Mester, Loretta J., 2004. "Credit card rates and consumer search," Review of Financial Economics, Elsevier, vol. 13(1-2), pages 179-198.
    14. Engle, Robert F. & Yoo, Byung Sam, 1987. "Forecasting and testing in co-integrated systems," Journal of Econometrics, Elsevier, vol. 35(1), pages 143-159, May.
    15. Brito, Dagobert L & Hartley, Peter R, 1995. "Consumer Rationality and Credit Cards," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 400-433, April.
    16. Loretta J. Mester, 1993. "Why are credit card rates sticky?," Working Papers 93-16, Federal Reserve Bank of Philadelphia.
    17. Ausubel, Lawrence M, 1991. "The Failure of Competition in the Credit Card Market," American Economic Review, American Economic Association, vol. 81(1), pages 50-81, March.
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    Cited by:
    1. Ahmet Faruk Aysan & Nusret Ahmet Muslim, 2006. "The Failure of Competition in the Credit Card Market in Turkey: The New Empirical Evidence," Working Papers 2006/10, Turkish Economic Association.

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