From: Overlooked benefits of consumer credit growth: impact on formal employment
Panel A: unconditional | ||||
Paid employment | Paid employment | Self employed | Self employed | |
(OLS) | (IV) | (OLS) | (IV) | |
Consumer credits | 0.0568 | 0.0882** | − 0.0342 | − 0.0448 |
(0.0368) | (0.0382) | (0.0551) | (0.107) | |
Region FE | Yes | Yes | Yes | Yes |
Year FE | Yes | Yes | Yes | Yes |
Individual controls | Yes | Yes | Yes | Yes |
Regional controls | Yes | Yes | Yes | Yes |
Observations | 358,480 | 358,480 | 57,190 | 57,190 |
First stage | − 3.765*** | − 3.659*** | ||
(0.480) | (0.557) | |||
F-stat | 61.5 | 43.2 | ||
Panel B: conditional on looking for a job 1 year ago | ||||
Paid employment | Paid employment | Self employed | Self employed | |
(OLS) | (IV) | (OLS) | (IV) | |
Consumer credits | 0.184* | 0.290*** | − 0.396 | − 0.577 |
(0.0998) | (0.107) | (0.320) | (0.403) | |
Region FE | Yes | Yes | Yes | Yes |
Year FE | Yes | Yes | Yes | Yes |
Individual controls | Yes | Yes | Yes | Yes |
Regional controls | Yes | Yes | Yes | Yes |
Observations | 32,075 | 32,075 | 1,961 | 1,961 |
First stage | − 3.818*** | − 3.429*** | ||
(0.562) | (0.650) | |||
F-stat | 46.1 | 27.9 |