Structural breaks and consumer credit: Is consumption smoothing finally a reality?
نویسندگان
چکیده
منابع مشابه
Structural models in consumer credit
We propose a structural credit risk model for consumer lending using option theory and the concept of the value of the consumer’s reputation. Using Brazilian empirical data and a credit bureau score as proxy for creditworthiness we compare a number of alternative models before suggesting one that leads to a simple analytical solution for the probability of default. We apply the proposed model t...
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ژورنال
عنوان ژورنال: Journal of Macroeconomics
سال: 2008
ISSN: 0164-0704
DOI: 10.1016/j.jmacro.2007.04.004