| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9773 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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