Arbeitspapier
Long-run price elasticities of demand for credit: Evidence from a countrywide field experiment in Mexico
The long-run price elasticity of demand for credit is a key parameter for intertemporal modeling, policy levers, and lending practice. We use randomized interest rates, offered across 80 regions by Mexicos largest microlender, to identify a 29-month dollars-borrowed elasticity of -1.9. This elasticity increases from -1.1 in year one to -2.9 in year three. The number of borrowers is also elastic. Credit bureau data does not show evidence of crowd-out. Competitors do not respond by reducing rates, perhaps because Compartamos profits are unchanged. The results are consistent with multiple equilibria in loan pricing.
- Sprache
-
Englisch
- Erschienen in
-
Series: Economic Growth Center Discussion Paper ; No. 1024
- Klassifikation
-
Wirtschaft
Interest Rates: Determination, Term Structure, and Effects
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Macroeconomic Analyses of Economic Development
Microeconomic Analyses of Economic Development
- Thema
-
microcredi
interest rates
interest rate policy
interest rate elasticities
Zins
Kredit
Preiselastizität
Mikrofinanzierung
Mexiko
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Karlan, Dean
Zinman, Jonathan
- Ereignis
-
Veröffentlichung
- (wer)
-
Yale University, Economic Growth Center
- (wo)
-
New Haven, CT
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Karlan, Dean
- Zinman, Jonathan
- Yale University, Economic Growth Center
Entstanden
- 2013
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