This paper proposes a machine learning approach to estimate physical forward default intensities. Default probabilities … default process. The major contribution to previous literature is to allow the estimation of non-linear forward intensities by …

This paper examines the disparity in default risk between vulnerable and non-vulnerable populations in consumer lending … the probability of default. We find that vulnerable individuals have a higher risk than non-vulnerable individuals …. Specifically, interest rates explain at least 30 percent of the risk gap. We also find that the default probabilities faced by …