Replication data for: Modeling the Revolving Revolution: The Debt Collection Channel

We investigate the role of information technology (IT) in the collection of delinquent consumer debt. We argue that the widespread adoption of IT by the debt collection industry in the 1990s contributed to the observed expansion of unsecured risky lending such as credit cards. Our model stresses the importance of delinquency and private information about borrower solvency. The prevalence of delinquency implies that the costs of debt collection must be borne by lenders to sustain incentives to repay debt. IT mitigates informational asymmetries, allowing lenders to concentrate collection efforts on delinquent borrowers who are more likely to repay.

本研究考察了信息技术（IT）在逾期消费账款催收中的作用。本文认为，20世纪90年代账款催收行业对IT的大规模应用，推动了观测到的信用卡等无抵押高风险信贷业务的扩张。本研究模型着重强调了逾期行为与借款人偿债能力私人信息的重要性：逾期行为的普遍存在意味着，放款机构必须承担账款催收成本，以维持借款人的还款动机。IT能够缓解信息不对称问题，使放款机构得以将催收资源集中于更具还款可能性的逾期借款人。