000			01987cam a22003377 4500
001			w28956
003			NBER
005			20211020103128.0
006			m o d
007			cr cnu||||||||
008			210910s2021 mau fo 000 0 eng d
100	1		_aMedina, Paolina C.
245	1	0	_aDoes Saving Cause Borrowing? / _cPaolina C. Medina, Michaela Pagel.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2021.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w28956
500			_aJune 2021.
520	3		_aWe study whether savings nudges have the unintended consequence of additional borrowing in high-interest credit. We use data from a pre-registered experiment that encouraged 3.1 million bank customers to save via SMS messages and train a machine learning algorithm to predict individual-level treatment effects. We then focus on individuals who are predicted to save most in response to the intervention and hold credit card debt. We find that these individuals save 5.7% more (61.84 USD per month) but do not change their borrowing: for every additional dollar saved, we can rule out increases of more than two cents in interest expenses.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aD14 - Household Saving • Personal Finance _2Journal of Economic Literature class.
690		7	_aG5 - Household Finance _2Journal of Economic Literature class.
700	1		_aPagel, Michaela.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w28956.
856	4	0	_uhttps://www.nber.org/papers/w28956
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w28956
942			_2ddc _cW-PAPER
999			_c387873 _d346435