Desai, Chintal; Elliehausen, Gregory; Lawrence, Edward - In: Journal of Financial Services Research 45 (2014) 2, pp. 201-218
In their pioneering work, Musto and Souleles (Journal of Monetary Economics 53(1):59–84, <CitationRef CitationID="CR19">2006</CitationRef>) apply portfolio theory to consumer lending. This paper extends their work by analyzing three county-level credit outcome betas. We use the probability of default calibrated from the credit score, the...</citationref>
