RECENT DEVELOPMENTS IN CONSUMER CREDIT AND DEFAULT LITERATURE
这篇综述讨论了无担保消费者信贷和违约的定量文献最新进展，涵盖个人破产上升原因、信息不对称影响、信息技术对信贷市场的作用、债务催收与重组、消费者债务的周期行为以及家庭债务的保险功能，并探讨了福利分析与政策设计。
Abstract This survey discusses recent contributions to the quantitative literature on unsecured consumer debt and default, and some ongoing challenges for the literature. Key topics include the sources of the rise in personal bankruptcies, the importance of asymmetric information and the effects of developments in information technologies on consumer credit markets, delinquency and informal bankruptcy, debt collection and restructuring of distressed debt, the cyclical behavior of consumer debt and default, and the insurance role of household debt. Implications for welfare analysis and policy design are discussed. Several theoretical contributions and approaches to modeling the consumer credit markets are also highlighted.