| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26110 |
| 来源ID | Working Paper 26110 |
| Credit Building or Credit Crumbling? A Credit Builder Loan\u2019s Effects on Consumer Behavior, Credit Scores and Their Predictive Power | |
| Jeremy Burke; Julian Jamison; Dean Karlan; Kata Mihaly; Jonathan Zinman | |
| 发表日期 | 2019-08-05 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | How does the large market for credit score improvement products affect consumers and market efficiency? For consumers, we use a randomized encouragement design on a standard credit builder loan (CBL) and find null average effects on scores. But a generalized random forest algorithm finds important heterogeneity, most starkly with respect to baseline installment credit activity. CBLs induce delinquency on pre-existing loan obligations, suggesting that even a seemingly modest additional claim on monthly cash flows is too much for many consumers to manage. For the market, CBL take-up reveals information: takers experience future score improvements relative to non-takers, which, given null average treatment effects, implies positive selection. However, we find suggestive evidence that the CBL weakens the score’s power for predicting default in some cases. We propose simple changes, to CBL provider strategy and credit bureau reporting categories, that could produce more uniformly positive effects for both individuals and the market. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Financial Markets ; Financial Institutions |
| URL | https://www.nber.org/papers/w26110 |
| 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/583801 |
| 推荐引用方式 GB/T 7714 | Jeremy Burke,Julian Jamison,Dean Karlan,et al. Credit Building or Credit Crumbling? A Credit Builder Loan\u2019s Effects on Consumer Behavior, Credit Scores and Their Predictive Power. 2019. |
| 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 | ||
| w26110.pdf（8070KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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