| . | (1) . | (2) . |
|---|---|---|
| . | Loan rate . | Loan spread . |
| Future default | 0.05*** | 0.05*** |
| (0.01) | (0.01) | |
| I(Depositor) | 0.27*** | 0.26*** |
| (0.02) | (0.02) | |
| Future default x I(Depositor) | –0.02 | –0.02 |
| (0.02) | (0.02) | |
| ln(Debt) | –0.12*** | –0.12*** |
| (0.00) | (0.00) | |
| ln(House value) | –0.09*** | –0.09*** |
| (0.01) | (0.01) | |
| ln(Deposits) | 0.00*** | 0.00*** |
| (0.00) | (0.00) | |
| Birth year | –0.01*** | –0.01*** |
| (0.00) | (0.00) | |
| Has ever received UI | 0.04*** | 0.04*** |
| (0.00) | (0.00) | |
| Number of banks used | –0.09*** | –0.09*** |
| (0.00) | (0.00) | |
| Constant | 17.37*** | 15.54*** |
| (0.66) | (0.66) | |
| Observations | 5,165,425 | 5,165,425 |
| R 2 | .27 | .30 |
| Bank × Year FE | Y | Y |
| Municipality × Education × Year FE | Y | Y |
| . | (1) . | (2) . |
|---|---|---|
| . | Loan rate . | Loan spread . |
| Future default | 0.05*** | 0.05*** |
| (0.01) | (0.01) | |
| I(Depositor) | 0.27*** | 0.26*** |
| (0.02) | (0.02) | |
| Future default x I(Depositor) | –0.02 | –0.02 |
| (0.02) | (0.02) | |
| ln(Debt) | –0.12*** | –0.12*** |
| (0.00) | (0.00) | |
| ln(House value) | –0.09*** | –0.09*** |
| (0.01) | (0.01) | |
| ln(Deposits) | 0.00*** | 0.00*** |
| (0.00) | (0.00) | |
| Birth year | –0.01*** | –0.01*** |
| (0.00) | (0.00) | |
| Has ever received UI | 0.04*** | 0.04*** |
| (0.00) | (0.00) | |
| Number of banks used | –0.09*** | –0.09*** |
| (0.00) | (0.00) | |
| Constant | 17.37*** | 15.54*** |
| (0.66) | (0.66) | |
| Observations | 5,165,425 | 5,165,425 |
| R 2 | .27 | .30 |
| Bank × Year FE | Y | Y |
| Municipality × Education × Year FE | Y | Y |
This table shows the results from regressing the loan rate and loan spread on a wide range of household characteristics, including a dummy for whether the household eventually defaults. Default is measured as an event where the outstanding debt is nonzero, but the bank has not received any interest payments. Standard errors clustered by bank × year are in parentheses.
p < .1;
p < .05;
p < .01.
| . | (1) . | (2) . |
|---|---|---|
| . | Loan rate . | Loan spread . |
| Future default | 0.05*** | 0.05*** |
| (0.01) | (0.01) | |
| I(Depositor) | 0.27*** | 0.26*** |
| (0.02) | (0.02) | |
| Future default x I(Depositor) | –0.02 | –0.02 |
| (0.02) | (0.02) | |
| ln(Debt) | –0.12*** | –0.12*** |
| (0.00) | (0.00) | |
| ln(House value) | –0.09*** | –0.09*** |
| (0.01) | (0.01) | |
| ln(Deposits) | 0.00*** | 0.00*** |
| (0.00) | (0.00) | |
| Birth year | –0.01*** | –0.01*** |
| (0.00) | (0.00) | |
| Has ever received UI | 0.04*** | 0.04*** |
| (0.00) | (0.00) | |
| Number of banks used | –0.09*** | –0.09*** |
| (0.00) | (0.00) | |
| Constant | 17.37*** | 15.54*** |
| (0.66) | (0.66) | |
| Observations | 5,165,425 | 5,165,425 |
| R 2 | .27 | .30 |
| Bank × Year FE | Y | Y |
| Municipality × Education × Year FE | Y | Y |
| . | (1) . | (2) . |
|---|---|---|
| . | Loan rate . | Loan spread . |
| Future default | 0.05*** | 0.05*** |
| (0.01) | (0.01) | |
| I(Depositor) | 0.27*** | 0.26*** |
| (0.02) | (0.02) | |
| Future default x I(Depositor) | –0.02 | –0.02 |
| (0.02) | (0.02) | |
| ln(Debt) | –0.12*** | –0.12*** |
| (0.00) | (0.00) | |
| ln(House value) | –0.09*** | –0.09*** |
| (0.01) | (0.01) | |
| ln(Deposits) | 0.00*** | 0.00*** |
| (0.00) | (0.00) | |
| Birth year | –0.01*** | –0.01*** |
| (0.00) | (0.00) | |
| Has ever received UI | 0.04*** | 0.04*** |
| (0.00) | (0.00) | |
| Number of banks used | –0.09*** | –0.09*** |
| (0.00) | (0.00) | |
| Constant | 17.37*** | 15.54*** |
| (0.66) | (0.66) | |
| Observations | 5,165,425 | 5,165,425 |
| R 2 | .27 | .30 |
| Bank × Year FE | Y | Y |
| Municipality × Education × Year FE | Y | Y |
This table shows the results from regressing the loan rate and loan spread on a wide range of household characteristics, including a dummy for whether the household eventually defaults. Default is measured as an event where the outstanding debt is nonzero, but the bank has not received any interest payments. Standard errors clustered by bank × year are in parentheses.
p < .1;
p < .05;
p < .01.
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