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SUMMARY:Friends and Family Money: P2P Transfers and Financially Fragile Co
 nsumers
DTSTART:20231201T114500
DTEND:20231201T130000
DTSTAMP:20260916T212131Z
UID:073eb716e6521cfaf8e8bbb9ca2bf9ca167676f42b7739c1894dd739
CATEGORIES:Conferences - Seminars
DESCRIPTION:Emily Williams - Harvard University\nThis paper examines the i
 mpact of real-time payments on financially fragile individuals in the Unit
 ed States. We do so by using detailed transaction data that allows us to c
 arefully identify income\, expenditures and liquid assets holdings. We the
 n investigate how digital payments technology that allows for instant tran
 sfer of funds between people at low or no cost\, affects person-to-person 
 transfers and consumer outcomes after negative income shocks. We find that
  instant access to funds reduces uncertainty in cash flow timing\, enablin
 g better alignment of income and expenditures\, which in turn reduces the 
 likelihood of negative consequences such as overdraft/late payment fees. W
 e confirm our results using a novel instrument for access to digital payme
 nts technology. These findings contribute to the active policy debate on r
 eal-time payments\, highlighting their potential to enhance financial stab
 ility for vulnerable individuals.\n 
LOCATION:UniL Campus\, Room Extra 126
STATUS:CONFIRMED
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