Credit

Pour financer un véhicule neuf, le futur acheteur et le choix entre essentiellement deux possibilités: le crédit auto, ou le leasing. Le crédit auto consiste en un crédit personnel dont la somme servira à acheter entièrement la voiture, alors que le leasing consistera, plus ou moins, en une "location longue durée", avec rachat de la valeur résiduelle du véhicule en fin de contrat.

Si les prestataires de crédit et leasings vantent chacun les mérites de leur solution à grand coups d'arguments marketing, qu'en est-il réellement? Quels sont les coûts exacts liés à l'acquisition d'une voiture via un crédit? Et via un leasing?

En partant des formules exactes des coûts du crédit et de ceux du leasing, il devient possible d'effectuer une comparaison entre les deux solutions. Si le coût final dépendra de nombreux paramètres, quelques éléments intéressant ressortent déjà!

This article examines the strategies, actions, and meaning of the credit activities of single women in rural credit markets in eighteenth-century France. For the purpose of this article, gender and, more importantly, marital status, are considered as critical categories of historical analysis, and this approach has yielded key data in the examination of loans records from 1733 to 1790. This article concludes that not only did single women gradually become major agents in the circulation of capital within their communities but that they also gained greater social freedom and empowerment thanks to their role as creditors.

This book offers a critical analysis of consumer credit markets and the growth of outstanding debt, presenting in-depth interview material to explore the phenomenon of mass indebtedness through the life trajectories of self-identified debtors struggling with the pressures of owing money.

A rich and original qualitative study of the close relationship between financial capitalism, consumer aspirations, social exclusion and the proliferation of personal indebtedness, The Dark Side of Prosperity examines questions of social identity, subjectivity and consumer motivation in close connection with the socio-cultural ideals of an ‘enjoyment society’, that binds the value of the lives of individuals to the endless acquisition and disposal of pecuniary resources and lifestyle symbols. Critically engaging with the work of Giddens, Beck and Bauman, this volume draws on the thought of contemporary philosophers including Žižek, Badiou and Rancière to consider the possibility that the expansion of outstanding consumer credit, despite its many consequences, may be integral to the construction of social identity in a radically indeterminate and increasingly divided society.

A ground-breaking work of critical social research this book will appeal to scholars of social theory, contemporary philosophy and political and economic sociology, as well as those with interests in consumer credit and cultures of indebtedness.

In this study we build upon a Markov-Switching Bayesian Vector Autoregression (MSBVAR) model to study how the credit default swaps (CDS) market in the euro area becomes an important chain in the propagation of shocks through the entire financial system. We find that an unexpected increase in the banks’ (sovereign) CDS spread is followed by an increase in the sovereign (banks’) CDS spreads. An unedited insight that emanates from this research is that the aforementioned effects become stronger in periods of elevated uncertainty in the CDS market. Several implications can be derived from this research. First, in line with the existing literature, we identify that government interventions in the banking sector deteriorate the credit risk of sovereign debt. Second, higher risk premium that is required by investors for holding riskier government bonds depresses the sovereign debt market, it impairs balance sheets of the banking sector, and it depresses the collateral value of loans leading to bank retrenchment. The ensuing two-way banking-fiscal feedback loop indicates that government interventions do not necessarily stabilize the banking sector. Indeed, the prospect of government intervention allow banks to be more leveraged and, hence, more vulnerable to a sovereign default. We also document a negative response of the EUROSTOXX stock index and positive response of the VSTOXX volatility index to a unexpected increase in the banks’ and sovereign CDS spread. Our findings are corroborated by several robustness checks.

La bancarisation ne s’est pas limitée à la diffusion du compte en banque. L’essor du « crédit personnel » représenta un important changement dans les rapports des banques et de leurs clients. Chacun a appris à connaître l’autre et à traiter avec lui : les banques élargirent leur clientèle éligible au crédit, tandis que les consommateurs découvraient ses avantages et inconvénients.