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How accurately do consumers report their debts in household surveys?

Author

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  • Carlos Madeira

Abstract

This article advances upon previous studies by using a unique match of a representative sample of individual borrowers from the Chilean Household Finance Survey and their banking loan records. I show that surveys differ from the credit registry, not just in the number of loans reported, but also in their amount, with a substantial degree of heterogeneity. Delinquency status is accurately reported by survey respondents. Furthermore, a substantial fraction of the discrepancies can be explained by rounding error in survey answers. Finally, I find that discrepancies are larger when respondents are not the highest-income member of the family.

Suggested Citation

  • Carlos Madeira, 2025. "How accurately do consumers report their debts in household surveys?," BIS Working Papers 1258, Bank for International Settlements.
    • Handle: RePEc:bis:biswps:1258
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    More about this item

    Keywords

    household finance surveys; mortgages; consumer credit; default; measurement error;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D10 - Microeconomics - - Household Behavior - - - General
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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