18 Predicated on participant zipcodes, data away from IXI Corporation are acclimatized to impute non-old age domestic economic riches and you may family income (find to have information about household earnings and you may investable assets analysis). Low money property was basically categorized just like the with holdings below $25,000; high-wide range domiciles, above $one hundred,100000. Low-income houses had money lower than $35,000; high-money households, above $87,500.

19 Due to research restriction, we really do not to see participants’ studies membership; Utkus and Younger (2011) and you will Li and you will Smith (2010) discover that large educated men and women are less likely to get package finance.

All of our examine is that neither alter out-of recordkeepers neither sales regarding a corporate division is related to staff need for bundle finance

20 Whenever a participant non-payments towards a fantastic financing, the new standard is usually submitted at the conclusion of the fresh new one-fourth pursuing the one-fourth where the business cancellation takes place. We ergo utilize the prior three-month average jobless rates from the condition level since the an excellent regressor, lagged from the 30 days. I plus attempted a simple around three-day lagged jobless rates, one-few days lagged price, and latest times price because the robustness checks, with results just like those people advertised lower than. We offer an in depth breakdown of all explanatory variables inside the On the internet Appendix Desk step 1. 继续阅读 →