credit constraints

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  • Credit and Saving Constraints in General Equilibrium: Evidence from Survey Data

    Publicación |

    In this paper, we build a heterogeneous agents-dynamic general equilibrium model wherein saving constraints interact with credit constraints. Saving constraints in the form of fixed costs to use the financial system lead households to seek informal saving instruments (cash) and result in lower…

  • Determinants of consumer credit within a debt constrained framework. Evidence from microdata

    Publicación |

    Determinants of consumer credit are estimated by using information from a Credit Union located in Medellín-Colombia. To the best of our knowledge, this is the first investigation using this kind of data in Colombia. We find that life cycle-permanent income hypothesis (LC-PIH) related variables…