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) | |
Credit cards | 0.0343 | 0.0554** | − 0.0135 | − 0.0286 |
(0.0218) | (0.0246) | (0.0465) | (0.0680) | |
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 | − 6.001*** | − 5.733*** | ||
(0.782) | (0.884) | |||
F-stat | 58.8 | 42 | ||
Panel B: conditional on looking for a job 1 year ago | ||||
Paid employment | Paid employment | Self employed | Self employed | |
(OLS) | (IV) | (OLS) | (IV) | |
Credit cards | 0.133** | 0.187*** | − 0.302 | − 0.369 |
(0.0605) | (0.0660) | (0.198) | (0.267) | |
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 | − 5.930*** | − 5.357*** | ||
(0.887) | (1.000) | |||
F-stat | 44.7 | 28.7 |