haku: @all stability / yhteensä: 198
viite: 185 / 198
| Tekijä: | Gross, D. B. Souleles, N. S. |
| Otsikko: | An Empirical Analysis of Personal Bankruptcy and Delinquency |
| Lehti: | Review of Financial Studies
2002 : SPRING, VOL. 15:1, p. 319-348 |
| Asiasana: | CREDIT CARDS BANKRUPTCY EMPIRICAL RESEARCH ANALYTICAL REVIEW |
| Kieli: | eng |
| Tiivistelmä: | This article uses a new dataset of credit card accounts to analyze credit card delinquency, personal bankruptcy, and the stability of credit risk models. The authors estimate duration models for default and assess the relative importance of different variables in predicting default. The authors investigate how the propensity to default has changed over time, disentangling the two leading explanations for the recent increase in default rates - a deterioration in the risk composition of borrowers versus an increase in borrowers' willingness to default due to declines in default costs. Even after controlling for risk composition and economic fundamentals, the propensity to default significantly increased between 1995 and 1997. |
SCIMA