TY  - JOUR
AU  - Alesina,Alberto F.
AU  - Lotti,Francesca
AU  - Mistrulli,Paolo Emilio
TI  - Do Women Pay More for Credit? Evidence from Italy
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 14202
PY  - 2008
Y2  - July 2008
UR  - http://www.nber.org/papers/w14202
L1  - http://www.nber.org/papers/w14202.pdf
N1  - Author contact info:
Alberto F. Alesina
Department of Economics
Harvard University
Littauer Center 210
Cambridge, MA 02138
Tel: 617/495-8388
Fax: 617/495-7730
E-Mail: aalesina@harvard.edu

Francesca Lotti
Structural Economic Analysis Department
Bank of Italy
via Nazionale 91, 00184 Rome (IT)
E-Mail: francesca.lotti@gmail.com

Paolo Emilio Mistrulli
Structural Economic Analysis Department
Bank of Italy
via Nazionale 91, 00184 Rome (IT)
E-Mail: paoloemilio.mistrulli@bancaditalia.it
AB  - The answer is yes. By using a unique and large data set on overdraft contracts between banks and microfirms and self-employed individuals, we find robust evidence that women in Italy pay more for overdraft facilities than men. We could not find any evidence that women are riskier then men. The male/female differential remains even after controlling for a large number of characteristics of the type of business, the borrower and the market structure of the credit market. The result is not driven by women using a different type of bank than men, since the same bank charges different rates to male and female borrowers. Social capital does play a role: high levels of trust loosen credit conditions by lowering interest rates, but this benefit is not evenly distributed, as women benefit from increased social capital less than men.
ER  -