inclusion of a broad set of loan-level controls and fixed effects. We also find that the spread between high and low credit … provided a strong, positive signal about the future solvency of subprime borrowers, reducing their borrowing cost, even as …

While theory predicts different effects of household credit and enterprise credit on the economy, the empirical … the different effects of these two components on real sector outcomes. We find that: 1) enterprise credit raises economic … growth whereas household credit has no effect; 2) enterprise credit reduces income inequality whereas household credit has no …

This paper investigates the impact of uncertainty on consumer credit outcomes. We develop a local measure of economic … uncertainty capturing county-level labor market shocks. We then exploit microeconomic data on mortgages and credit-card balances … absent and the cost of mortgage credit declines, suggesting that lenders reallocate credit towards safer borrowers when …

How does gaining access to expensive credit affect the well-being of credit-constrained households? I use plausibly …

The primary objective of this paper is to examine how the borrowing behavior of households in the East African region … often than female-headed households, and that older head of households are more likely to participate in borrowing …'s borrowing likely-hood. Since borrowing requires the guarantee in terms of borrower's income, the higher the income levels of the …