Before its severe recession in 2014, Brazil saw a large expansion in household borrowing. We document that the magnitude of credit card debt has been shrouded by reporting thresholds and other methodological choices in bank reporting to credit registry data. This has given room to erroneous perceptions concerning the success of recent public policies aimed at reducing consumer credit risk. Using survey data from 18,000 households we show that credit card debt is widespread, expensive and prone to falling in arrears. This qualifies the role of government-induced credit supply to emphasize the channel of interest rates.

中文翻译：

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巴西的信用卡债务额是多少？报告阈值，利率和收入分配

在2014年严重衰退之前，巴西的家庭借贷规模出现了大幅增长。我们记录了信用卡债务的规模已被银行向信用登记数据报告的报告阈值和其他方法选择所笼罩。对于最近旨在减少消费者信贷风险的公共政策的成功，这提供了错误认识的余地。使用来自18,000个家庭的调查数据，我们发现信用卡债务普遍，昂贵且容易拖欠。这证明了政府引导的信贷供应在强调利率渠道方面的作用。