Replication data for: A Quantitative Theory of Information and Unsecured Credit
Principal Investigator(s): View help for Principal Investigator(s) Kartik Athreya; Xuan S. Tam; Eric R. Young
Version: View help for Version V1
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20090169_programs | 12/07/2019 02:57:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 12/07/2019 09:57:AM |
Project Citation:
Athreya, Kartik, Tam, Xuan S., and Young, Eric R. Replication data for: A Quantitative Theory of Information and Unsecured Credit. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116427V1
Project Description
Summary:
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Important changes have occurred in unsecured credit markets over the past three decades. Most prominently, there have been large increases in aggregate consumer debt, the personal bankruptcy rate, the size of bankruptcies, the dispersion of interest rates paid by borrowers, and the relative discount received by those with good credit
ratings. We find that improvements in information available to lenders on household-level costs of bankruptcy can account for a significant fraction of what has been observed. The ex ante welfare gains from better information are positive but small. (JEL D14, D82, G21)
Scope of Project
JEL Classification:
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D14 Household Saving; Personal Finance
D82 Asymmetric and Private Information; Mechanism Design
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
D14 Household Saving; Personal Finance
D82 Asymmetric and Private Information; Mechanism Design
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
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