کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
967591 931351 2009 21 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Unsecured credit markets are not insurance markets
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Unsecured credit markets are not insurance markets
چکیده انگلیسی

We study the extent to which unsecured credit markets have altered the transmission of increased income risk to consumption variability over the past several decades. We find that unsecured credit markets pass through increased income risk to consumption, irrespective of bankruptcy policy and the information possessed by lenders. If risk sharing has indeed improved over this period, the reasons do not therefore lie in the unsecured credit market.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Monetary Economics - Volume 56, Issue 1, January 2009, Pages 83–103
نویسندگان
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