Determinants of consumer credit within a debt constrained framework : evidence from microdata

Borradores de Economia
Number: 
912
Published: 
Classification JEL: 
D12, G21
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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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 incom