UC Irvine

This dissertation explores critical economic problems regarding the alternative credit market and the impact of inflation on social welfare. The first chapter examines the relationship between bank concentration and the demand for alternative credit sources, revealing that higher bank concentration leads to increased reliance on alternative credit, with significant urban-rural disparities. The second chapter investigates the impact of local racial protests, such as those associated with the Black Lives Matter movement, on payday loan markets, uncovering that while these events improve loan approval rates in African American communities, they also exacerbate delinquency rates, highlighting the dual-edged nature of increased credit accessibility. The third chapter develops a search-theoretic model to analyze buyer-seller interactions in a monetary economy, demonstrating how cost heterogeneity, inflation, and search efforts shape price dynamics and social welfare. Together, these chapters offer novel insights into how financial markets, social movements, and monetary policy influence economic behaviors and outcomes, providing valuable implications for policy and future research.