| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28136 |
| 来源ID | Working Paper 28136 |
| Auto Dealer Loan Intermediation: Consumer Behavior and Competitive Effects | |
| Andreas Grunewald; Jonathan A. Lanning; David C. Low; Tobias Salz | |
| 发表日期 | 2020-11-23 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper studies the intermediation of auto loans through auto dealers using new and comprehensive administrative data. The arrangements between auto dealers and lenders incentivize dealers to increase loan prices. We leverage details of the corresponding contracts to demonstrate that many consumers are less responsive to finance charges than to vehicle charges. Taking this behavior into account, we estimate an equilibrium model of dealer price setting and lender competition. We explore counterfactuals where dealers have no discretion to price loans and final rates are set by lenders instead. We find large gains in consumer surplus from such a policy. |
| 主题 | Financial Economics ; Behavioral Finance ; Industrial Organization ; Market Structure and Firm Performance ; Regulatory Economics ; Industry Studies |
| URL | https://www.nber.org/papers/w28136 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585809 |
| 推荐引用方式 GB/T 7714 | Andreas Grunewald,Jonathan A. Lanning,David C. Low,et al. Auto Dealer Loan Intermediation: Consumer Behavior and Competitive Effects. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28136.pdf（1454KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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