Tasas de Crédito Ajustadas por Riesgo e Implicancias para Políticas de Tasa Máxima Convencional
AbstractThis work estimates the impact of different policies of Interest Rate Ceilings on the proportion of families excluded from credit access in Chile. Using the default probabilities estimated by a probit model based on demographic variables and financial debt-load, I simulate the distribution of risk-adjusted interest rates of Chilean households for different shocks to income and employment. The results imply that an interest rate ceiling factor of 0.35 would exclude 11% to 18% of the families from credit access, depending on the severity of the shock. This exclusion is heavily concentrated on the poorest income quintiles.
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Bibliographic InfoPaper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 654.
Date of creation: Jan 2012
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-02-27 (All new papers)
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