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This paper proposes and implements a mixture model to account for the unobserved group heterogeneity when modeling repayment behavior in group lending. We discuss the model properties and identification. We estimate the model using a rich dataset from a group lending program in India. The...
Persistent link: https://www.econbiz.de/10012956160
Group lending has been widely adopted in the past thirty years by many microfinance institutions as a means to mitigate information asymmetries when delivering credit to the poor. This paper proposes an empirical method to address the potential omitted variable problem resulting from unobserved...
Persistent link: https://www.econbiz.de/10013082793
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Group lending has been widely adopted in the past thirty years by many microfinance institutions as a means to mitigate information asymmetries when delivering credit to the poor. This paper proposes an empirical method to address the potential omitted-variable problem resulting from unobserved...
Persistent link: https://www.econbiz.de/10012974204
Group lending has been widely adopted in the past thirty years by many microfinance institutions as a means to mitigate information asymmetries when delivering credit to the poor. This paper proposes an empirical method to address the potential omitted variable problem resulting from unobserved...
Persistent link: https://www.econbiz.de/10012459814
This paper examines the effect of climate policy uncertainty on the default risk and documents a significant positive impact of China's CPU on the corporate default risk, and the impact sounds systematically aggravating with the increasing term structure of default investigation. Our research...
Persistent link: https://www.econbiz.de/10014353938
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"This paper proposes an econometric model to identify unobserved consumer types in the credit market. Consumers choose different amounts of loan because of differences in their time or risk preferences (types). Thus, the unconditional probability of default is modeled using a mixture density...
Persistent link: https://www.econbiz.de/10003680660