Li, Xiaofeng; Shang, Ying; Su, Zhi - In: Economics Letters 127 (2015) C, pp. 54-57
This paper examines the effects of a person’s past financial characteristics on his likelihood to default in ex-post loan performance using both Probit and a semiparametric single-index estimator proposed by Klein and Spady (1993). The data used in the paper are a sample of individual loans...