Credit purpose and the interest rate – Evidence from the European Household Finance and Consumption Survey
利用欧洲家庭金融与消费调查数据，发现非抵押信贷的用途显著影响家庭支付的利率水平，其中教育贷款利率最低，而债务整合和消费贷款对高成本家庭额外加价。
Abstract The article presents empirical evidence for a significant role of stated credit purpose for the level of interest rates paid by the end users of non‐mortgage credit (households). Data for the analysis was drawn from two waves of the Household Finance and Consumption Survey. The results of median regression show that, with the exception of credit for consolidation of other debts, remaining credit purposes were associated with lower interest rates compared to the interest rates of credit for car purchases. Especially low interest rates were evidenced for educational debt. Quantile regression analysis has shown that households which, given their socioeconomic background, experienced the highest interest rate costs, paid additional premiums if their debt was related to consolidation of previous debts or consumption. In the case of households paying relatively low premiums, consolidation of other debts and consumption motives were associated with lower interest rates than loans devoted to car purchase.