Description

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.