| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21942 |
| 来源ID | Working Paper 21942 |
| A Simple Model of Subprime Borrowers and Credit Growth | |
| Alejandro Justiniano; Giorgio E. Primiceri; Andrea Tambalotti | |
| 发表日期 | 2016-02-01 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | The surge in credit and house prices that preceded the Great Recession was particularly pronounced in ZIP codes with a higher fraction of subprime borrowers (Mian and Sufi, 2009). We present a simple model with prime and subprime borrowers distributed across geographic locations, which can reproduce this stylized fact as a result of an expansion in the supply of credit. Due to their low income, subprime households are constrained in their ability to meet interest payments and hence sustain debt. As a result, when the supply of credit increases and interest rates fall, they take on disproportionately more debt than their prime counterparts, who are not subject to that constraint. |
| 主题 | Macroeconomics ; Consumption and Investment ; Money and Interest Rates ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w21942 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579616 |
| 推荐引用方式 GB/T 7714 | Alejandro Justiniano,Giorgio E. Primiceri,Andrea Tambalotti. A Simple Model of Subprime Borrowers and Credit Growth. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w21942.pdf（1600KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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