| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29386 |
| 来源ID | Working Paper 29386 |
| Household Credit as Stimulus? Evidence from Brazil | |
| Gabriel Garber; Atif R. Mian; Jacopo Ponticelli; Amir Sufi | |
| 发表日期 | 2021-10-25 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | From 2011 to 2014, the Brazilian government conducted a heavily advertised major credit expansion program through government banks as part of its effort to stimulate the economy. Using administrative data on individual-level borrowing and spending, we find that the program led to a substantial rise in borrowing by government employees, especially those with low financial literacy. We trace the impact of credit stimulus on borrowers' consumption through the 2011-16 business cycle, and find that the credit stimulus resulted in higher consumption volatility and lower average consumption over the cycle. Our results suggest a potential downside of using household credit as stimulus in emerging markets. |
| 主题 | Microeconomics ; Households and Firms ; Macroeconomics ; Consumption and Investment ; Business Cycles ; Financial Economics ; Financial Institutions ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w29386 |
| 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/587061 |
| 推荐引用方式 GB/T 7714 | Gabriel Garber,Atif R. Mian,Jacopo Ponticelli,et al. Household Credit as Stimulus? Evidence from Brazil. 2021. |
| 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 | ||
| w29386.pdf（1940KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
