کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5056487 | 1371637 | 2014 | 16 صفحه PDF | دانلود رایگان |
- We develop and simulate a life-cycle model with individual income uncertainty in order to analyze the determinants of credit to households.
- The household credit to GDP ratio depends on the interest rate spread, individual income uncertainty, and individual income persistence.
- We provide empirical evidence on the basis of panel data from 36 countries.
This paper applies a life-cycle model with individual income uncertainty in order to investigate the determinants of credit to households. We show that the household credit to GDP ratio depends on the lending-deposit interest rate spread, individual income uncertainty, and individual income persistence. We subsequently provide empirical evidence for the prediction of a theoretical model on the basis of data from OECD and EU countries.
Journal: Economic Systems - Volume 38, Issue 4, December 2014, Pages 572-587