Nicholas S. Souleles

University of Pennsylvania - Finance Department

Professor

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

http://finance.wharton.upenn.edu/~souleles

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of Pennsylvania - Finance Department

    • Email
    • Tel: 215-898-9466
    • Fax: 215-898-6200
SCHOLARLY PAPERS

21

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14,448

CITATIONS
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Top 631

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905

Scholarly Papers (21)

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1.

Special Purpose Vehicles and Securitization

Downloads 6,680 ( 897)
Citation 55

Special Purpose Vehicles and Securitization

FRB Philadelphia Working Paper No. 05-21
Number of pages: 63 Posted: 04 May 2005 Last Revised: 13 Dec 2011
Gary B. Gorton and Nicholas S. Souleles
Yale School of Management and University of Pennsylvania - Finance Department
Downloads 6,396 (958)
Citation 11

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Securitization, Special Purpose Vehicles, Bankruptcy, Consumer Credit, Credit Cards

Special Purpose Vehicles and Securitization

NBER Working Paper No. w11190
Number of pages: 64 Posted: 08 Apr 2005 Last Revised: 31 Jul 2010
Gary B. Gorton and Nicholas S. Souleles
Yale School of Management and University of Pennsylvania - Finance Department
Downloads 284 (105,760)
Citation 4

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2.

Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data

Downloads 1,437 ( 12,314)
Citation 13

Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data

Wharton FIC Working Paper No. 00-04
Number of pages: 53 Posted: 26 Apr 2000
David B. Gross and Nicholas S. Souleles
Compass Lexecon and University of Pennsylvania - Finance Department
Downloads 1,344 (13,435)
Citation 8

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permanent-income hypothesis, liquidity constraints, precautionary saving; marginal propensity to consume, interest-rate elasticity; credit supply, consumer credit, credit cards.

Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data

NBER Working Paper No. w8314
Number of pages: 53 Posted: 31 May 2001 Last Revised: 22 Oct 2010
David B. Gross and Nicholas S. Souleles
Compass Lexecon and University of Pennsylvania - Finance Department
Downloads 93 (278,582)

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Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data

Forthcoming, Quarterly Journal of Economics
Posted: 19 Aug 2001
David B. Gross and Nicholas S. Souleles
Compass Lexecon and University of Pennsylvania - Finance Department

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permanent-income hypothesis, liquidity constraints, precautionary saving; marginal propensity to consume, interest-rate elasticity; credit supply, consumer credit, credit cards.

3.

Do Consumers Choose the Right Credit Contracts?

Downloads 1,153 ( 17,373)
Citation 25

Do Consumers Choose the Right Credit Contracts?

Number of pages: 26 Posted: 13 Nov 2005 Last Revised: 18 Mar 2015
Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu and Nicholas S. Souleles
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Nevada, Reno - College of Business and University of Pennsylvania - Finance Department
Downloads 712 (34,125)
Citation 19

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consumption, borrowing, debt, balance sheets, consumer credit, credit cards, banking

Do Consumers Choose the Right Credit Contracts?

Number of pages: 26 Posted: 05 Dec 2006 Last Revised: 18 Mar 2015
Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu and Nicholas S. Souleles
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Nevada, Reno - College of Business and University of Pennsylvania - Finance Department
Downloads 315 (94,437)
Citation 18

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consumption, borrowing, debt, balance sheets, consumer credit, credit cards, banking

Do Consumers Choose the Right Credit Contracts?

The Review of Corporate Finance Studies, Forthcoming
Number of pages: 31 Posted: 11 Aug 2014 Last Revised: 19 Mar 2015
Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu and Nicholas S. Souleles
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Nevada, Reno - College of Business and University of Pennsylvania - Finance Department
Downloads 126 (224,283)
Citation 8

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consumption, borrowing, debt, balance sheets, consumer credit, credit cards, banking

4.

Household Expenditure and the Income Tax Rebates of 2001

Downloads 1,084 ( 19,071)
Citation 205

Household Expenditure and the Income Tax Rebates of 2001

Number of pages: 38 Posted: 03 Jan 2005 Last Revised: 13 Dec 2011
David Johnson, Jonathan A. Parker and Nicholas S. Souleles
Bureau of Labor Statistics, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Finance Department
Downloads 1,031 (20,122)
Citation 12

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Consumption, saving, Life-Cycle model, Permanent-Income Hypothesis, liquidity constraints; fiscal policy, tax cuts, tax rebates, windfalls

Household Expenditure and the Income Tax Rebates of 2001

NBER Working Paper No. w10784
Number of pages: 38 Posted: 20 Sep 2004 Last Revised: 04 Oct 2004
David Johnson, Jonathan A. Parker and Nicholas S. Souleles
Bureau of Labor Statistics, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Finance Department
Downloads 53 (382,528)
Citation 10

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5.

An Empirical Analysis of Personal Bankruptcy and Delinquency

Downloads 799 ( 29,622)
Citation 93

An Empirical Analysis of Personal Bankruptcy and Delinquency

Wharton FIC Working Paper No. 98-28-B
Number of pages: 45 Posted: 11 Apr 2000 Last Revised: 13 Dec 2011
David B. Gross and Nicholas S. Souleles
Compass Lexecon and University of Pennsylvania - Finance Department
Downloads 732 (32,887)
Citation 4

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Personal bankruptcy, Forecasting default, Credit risk management, Consumer credit, Credit cards

An Empirical Analysis of Personal Bankruptcy and Delinquency

NBER Working Paper No. w8409
Number of pages: 46 Posted: 06 Aug 2001 Last Revised: 22 Oct 2010
David B. Gross and Nicholas S. Souleles
Compass Lexecon and University of Pennsylvania - Finance Department
Downloads 67 (339,509)
Citation 1

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An Empirical Analysis of Personal Bankruptcy and Delinquency

Review of Financial Studies, Forthcoming
Posted: 06 Nov 2001
David B. Gross and Nicholas S. Souleles
Compass Lexecon and University of Pennsylvania - Finance Department

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Personal bankruptcy; Forecasting default; Credit risk management; Consumer credit; Credit cards

6.

What 'Triggers' Mortgage Default?

FRB of Philadelphia Working Paper No. 10-13
Number of pages: 15 Posted: 29 Apr 2010 Last Revised: 13 Dec 2011
Ronel Elul, Nicholas S. Souleles, Souphala Chomsisengphet, Dennis Glennon and Robert M. Hunt
Federal Reserve Bank of Philadelphia, University of Pennsylvania - Finance Department, Office of the Comptroller of the Currency (OCC), Government of the United States of America - Office of the Comptroller of the Currency (OCC) and Consumer Finance Institute, Federal Reserve Bank of Philadelphia
Downloads 678 (37,073)
Citation 20

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Mortgages, Mortgage Default, Negative Equity, Illiquidity, Double Trigger, Consumer Credit, Household Finance

7.

The Reaction of Consumer Spending and Debt to Tax Rebates - Evidence from Consumer Credit Data

Downloads 674 ( 37,374)
Citation 100

The Reaction of Consumer Spending and Debt to Tax Rebates - Evidence from Consumer Credit Data

Number of pages: 45 Posted: 12 Dec 2007 Last Revised: 13 Dec 2011
Sumit Agarwal, Chunlin Liu and Nicholas S. Souleles
National University of Singapore, University of Nevada, Reno - College of Business and University of Pennsylvania - Finance Department
Downloads 642 (39,227)
Citation 1

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consumption, saving, Life-Cycle model, Permanent-Income Hypothesis, liquidity constraints, fiscal policy, tax cuts, tax rebates, windfalls, credit cards, consumer credit, consumer balance sheets, household finance

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data

NBER Working Paper No. w13694
Number of pages: 46 Posted: 21 Dec 2007 Last Revised: 30 Dec 2007
Sumit Agarwal, Chunlin Liu and Nicholas S. Souleles
National University of Singapore, University of Nevada, Reno - College of Business and University of Pennsylvania - Finance Department
Downloads 32 (466,968)
Citation 71

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8.

A Portfolio View of Consumer Credit

Downloads 517 ( 52,768)
Citation 19

A Portfolio View of Consumer Credit

FRB of Philadelphia Working Paper No. 05-25
Number of pages: 42 Posted: 28 Oct 2005 Last Revised: 11 Dec 2011
David K. Musto and Nicholas S. Souleles
University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 485 (56,595)
Citation 1

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credit supply, consumer credit; default risk, credit scores, loan portfolio analysis

A Portfolio View of Consumer Credit

NBER Working Paper No. w11735
Number of pages: 43 Posted: 27 Jan 2006 Last Revised: 27 Jul 2010
David K. Musto and Nicholas S. Souleles
University of Pennsylvania - Finance Department and University of Pennsylvania - Finance Department
Downloads 32 (466,968)

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9.

Owner-Occupied Housing as a Hedge Against Rent Risk

Downloads 453 ( 62,290)
Citation 198

Owner-Occupied Housing as a Hedge Against Rent Risk

University of Pennsylvania, Rodney L. White Center for Financial Research Working Paper No. 01-03, FRB Philadelphia Working Paper No. 05-10
Number of pages: 34 Posted: 05 Apr 2003
Todd M. Sinai and Nicholas S. Souleles
University of Pennsylvania - The Wharton School and University of Pennsylvania - Finance Department
Downloads 412 (69,202)

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rent risk, house price risk, housing tenure choice, house prices, household risk management, aging and housing wealth

Owner-Occupied Housing as a Hedge Against Rent Risk

NBER Working Paper No. w9462
Number of pages: 45 Posted: 31 Jan 2003 Last Revised: 15 May 2012
Todd M. Sinai and Nicholas S. Souleles
University of Pennsylvania - The Wharton School and University of Pennsylvania - Finance Department
Downloads 41 (426,979)
Citation 6

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10.

Benefits of Relationship Banking: Evidence from Consumer Credit Markets

Downloads 244 (124,569)
Citation 15

Benefits of Relationship Banking: Evidence from Consumer Credit Markets

FRB of Chicago Working Paper No. 2010-05
Number of pages: 45 Posted: 24 Jul 2010
Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu and Nicholas S. Souleles
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Nevada, Reno - College of Business and University of Pennsylvania - Finance Department
Downloads 171 (174,050)
Citation 11

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Relationship Banking; Credit Cards, Consumer Credit, Deposits, Investments

Benefits of Relationship Banking: Evidence from Consumer Credit Markets

Number of pages: 50 Posted: 19 Mar 2009 Last Revised: 19 Sep 2017
Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu, Changcheng Song and Nicholas S. Souleles
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Nevada, Reno - College of Business, National University of Singapore (NUS) and University of Pennsylvania - Finance Department
Downloads 73 (323,492)
Citation 11

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Relationship Banking, Credit Cards, Consumer Credit, Deposits, Investments, Household Finance

Benefits of Relationship Banking: Evidence from Consumer Credit Markets

Posted: 31 Jul 2009 Last Revised: 16 Sep 2017
Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu and Nicholas S. Souleles
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Nevada, Reno - College of Business and University of Pennsylvania - Finance Department

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Relationship Banking, Credit Cards, Consumer Credit, Deposits, Investments, Household Finance

11.

Net Worth and Housing Equity in Retirement

Downloads 239 (127,192)
Citation 7

Net Worth and Housing Equity in Retirement

FRB of Philadelphia Working Paper No. 07-33
Number of pages: 42 Posted: 12 Dec 2007
Todd M. Sinai and Nicholas S. Souleles
University of Pennsylvania - The Wharton School and University of Pennsylvania - Finance Department
Downloads 207 (145,866)

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Net Worth and Housing Equity in Retirement

NBER Working Paper No. w13693
Number of pages: 42 Posted: 21 Dec 2007 Last Revised: 15 May 2012
Todd M. Sinai and Nicholas S. Souleles
University of Pennsylvania - The Wharton School and University of Pennsylvania - Finance Department
Downloads 32 (466,968)

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12.

Household Securities Purchases, Transactions Costs, and Hedging Motives

Rodney L. White Center for Financial Research Working Paper No. 24-99
Number of pages: 51 Posted: 04 Feb 2000
Nicholas S. Souleles
University of Pennsylvania - Finance Department
Downloads 153 (191,271)
Citation 5

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13.

Consumer Sentiment: Its Rationality and Usefulness in Forecasting Expenditure - Evidence from the Michigan Micro Data

NBER Working Paper No. w8410
Number of pages: 51 Posted: 06 Aug 2001 Last Revised: 22 Oct 2010
Nicholas S. Souleles
University of Pennsylvania - Finance Department
Downloads 82 (299,135)

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14.

Physician Income Expectations and Specialty Choice

NBER Working Paper No. w8536
Number of pages: 38 Posted: 11 Oct 2001
Sean Nicholson and Nicholas S. Souleles
Cornell University - Department of Policy Analysis & Management (PAM) and University of Pennsylvania - Finance Department
Downloads 67 (335,437)

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15.

Can Owning a Home Hedge the Risk of Moving?

Downloads 55 (370,102)
Citation 5

Can Owning a Home Hedge the Risk of Moving?

Number of pages: 45 Posted: 01 Nov 2009
Todd M. Sinai and Nicholas S. Souleles
University of Pennsylvania - The Wharton School and University of Pennsylvania - Finance Department
Downloads 37 (444,125)
Citation 1

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housing demand, house price risk, mobility, tenure choice

Can Owning a Home Hedge the Risk of Moving?

NBER Working Paper No. w15462
Number of pages: 45 Posted: 03 Nov 2009 Last Revised: 25 Sep 2010
Todd M. Sinai and Nicholas S. Souleles
University of Pennsylvania - The Wharton School and University of Pennsylvania - Finance Department
Downloads 18 (550,016)

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16.

Physician Income Prediction Errors: Sources and Implications for Behavior

NBER Working Paper No. W8907
Number of pages: 47 Posted: 25 Apr 2002
Sean Nicholson and Nicholas S. Souleles
Cornell University - Department of Policy Analysis & Management (PAM) and University of Pennsylvania - Finance Department
Downloads 39 (426,160)

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17.

Reported Preference vs. Revealed Preference: Evidence from the Propensity to Spend Tax Rebates

Downloads 37 (438,416)

Reported Preference vs. Revealed Preference: Evidence from the Propensity to Spend Tax Rebates

Number of pages: 41 Posted: 14 Jul 2017 Last Revised: 28 Sep 2017
Jonathan A. Parker and Nicholas S. Souleles
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Finance Department
Downloads 33 (466,968)

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Revealed preference, survey methods, treatment effects, consumption, marginal propensity to consume, fiscal policy

Reported Effects vs. Revealed-Preference Estimates: Evidence from the Propensity to Spend Tax Rebates

NBER Working Paper No. w23920
Number of pages: 23 Posted: 16 Oct 2017
Jonathan A. Parker and Nicholas S. Souleles
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Finance Department
Downloads 4 (646,577)

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18.

Consumer Spending and the Economic Stimulus Payments of 2008

NBER Working Paper No. w16684
Number of pages: 48 Posted: 18 Jan 2011
Jonathan A. Parker, Nicholas S. Souleles, David Johnson, David S. Johnson and Robert McClelland
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Pennsylvania - Finance Department, University of Michigan at Ann Arbor, Government of the United States of America - Bureau of the Census and Bureau of Labor Statistics
Downloads 32 (455,538)
Citation 9

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19.

Reported Effects vs. Revealed-Preference Estimates: Evidence From the Propensity to Spend Tax Rebates

Number of pages: 22 Posted: 29 Jan 2019
Jonathan A. Parker and Nicholas S. Souleles
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Finance Department
Downloads 25 (490,705)

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Consumption, Tax Rebates, Survey Methodology, Revealed Preference

20.

Consumer Response to the Reagan Tax Cuts

Journal of Public Economics, Forthcoming
Posted: 27 Apr 2001
Nicholas S. Souleles
University of Pennsylvania - Finance Department

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Life-Cycle Model, Permanent-Income Hypothesis, Excess sensitivity; Fiscal Policy, Tax cuts

21.

Testing for Liquidity Constraints in Euler Equations with Complementary Data Sources

Rodney L. White Center Working Paper No. 10-97
Posted: 20 Jul 1998
Tullio Jappelli, Jörn-Steffen Pischke and Nicholas S. Souleles
University of Naples Federico II - Department of Economics, London School of Economics and University of Pennsylvania - Finance Department

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