Can microcredit help unlock a poverty trap for some people by putting their businesses on a different trajectory? Could the small microcredit treatment effects often found for the average household mask important heterogeneity? In Hyderabad, India, we find that "gung ho entrepreneurs" (GEs),...

Can microcredit help unlock a poverty trap for some people by putting their businesses on a different trajectory? Could the small microcredit treatment effects often found for the average household mask important heterogeneity? In Hyderabad, India, we find that “gung ho entrepreneurs” (GEs),...

This paper uses loan-level data from Thailand's National Credit Bureau to study household debt over the life cycle of borrowers. We decompose two aggregate and commonly used measures of debt — debt per capita and delinquency rate — into components that unveil the extensive and intensive...