Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/98196 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Economic Growth Center Discussion Paper No. 1024
Verlag: 
Yale University, Economic Growth Center, New Haven, CT
Zusammenfassung: 
The long-run price elasticity of demand for credit is a key parameter for intertemporal modeling, policy levers, and lending practice. We use randomized interest rates, offered across 80 regions by Mexico’s largest microlender, to identify a 29-month dollars-borrowed elasticity of -1.9. This elasticity increases from -1.1 in year one to -2.9 in year three. The number of borrowers is also elastic. Credit bureau data does not show evidence of crowd-out. Competitors do not respond by reducing rates, perhaps because Compartamos’ profits are unchanged. The results are consistent with multiple equilibria in loan pricing.
Schlagwörter: 
microcredi
interest rates
interest rate policy
interest rate elasticities
JEL: 
E43
G21
O11
O12
Dokumentart: 
Working Paper

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