G2TT
来源类型Discussion paper
规范类型论文
来源IDDP9773
DP9773 Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock
Jonathan Zinman; Dean Karlan; Adam Osman
发表日期2013-12-08
出版年2013
语种英语
摘要Identifying the impacts of liquidity shocks on spending decisions is difficult methodologically but important for theory, practice, and policy. Using seven different methods on microenterprise loan applicants, we find striking results. Borrowers report uses of loan proceeds strategically, and more generally their reporting depends on elicitation method. Borrowers also interpret loan use questions differently than the key counterfactual: spending that would not have occurred sans loan. We identify the counterfactual using random assignment of loan approvals and short-run follow-up elicitation of major household and business cash outflows, and estimate that about 100% of loan-financed spending is on business inventory.
主题Development Economics ; Financial Economics ; Labour Economics
关键词Consumption Fungibility investment Liquidity constraint Liquidity shock Loan use Microcredit Microenterprise
URLhttps://cepr.org/publications/dp9773
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/538609
推荐引用方式
GB/T 7714
Jonathan Zinman,Dean Karlan,Adam Osman. DP9773 Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock. 2013.
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