ILLIQUIDITY TRAP: OVER-INDEBTED SUBJECTS AND THEIR COGNITIVE CONSEQUENCES

Guillermo León Toro-García; Sandra Balanta Cobo; Alexander Alegría Castellanos

doi:10.1590/S0034-759020240103x

ILLIQUIDITY TRAP: OVER-INDEBTED SUBJECTS AND THEIR COGNITIVE CONSEQUENCES

Título traducido de la contribución: Trampa de iliquidez: Los sujetos sobreendeudados y sus consecuencias cognitivas

Guillermo León Toro-García, Sandra Balanta Cobo, Alexander Alegría Castellanos

Universidad Javeriana

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Resumen

This research aims to show the cognitive constraints experienced by resulting from financial concerns and problems. A case study was conducted involving eight individuals living in different Colombian cities, who got into debt and faced an insolvency process. The results obtained are consistent with the theoretical-empirical framework proposed by Mullainathan and Shafir (2013), regarding the cognitive strain experienced by individuals with feeling of scarcity. This work contributes to the existing empirical literature and represents a first step toward the existence of a debt illiquidity trap that drives debtors to perpetuate their critical financial situation.

Título traducido de la contribución	Trampa de iliquidez: Los sujetos sobreendeudados y sus consecuencias cognitivas
Idioma original	Inglés
Número de artículo	e2022-0445
Publicación	RAE Revista de Administracao de Empresas
Volumen	64
N.º	1
DOI	https://doi.org/10.1590/S0034-759020240103x
Estado	Publicada - 2024

ODS de las Naciones Unidas

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10.1590/S0034-759020240103x

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abstract = "This research aims to show the cognitive constraints experienced by resulting from financial concerns and problems. A case study was conducted involving eight individuals living in different Colombian cities, who got into debt and faced an insolvency process. The results obtained are consistent with the theoretical-empirical framework proposed by Mullainathan and Shafir (2013), regarding the cognitive strain experienced by individuals with feeling of scarcity. This work contributes to the existing empirical literature and represents a first step toward the existence of a debt illiquidity trap that drives debtors to perpetuate their critical financial situation.",

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ILLIQUIDITY TRAP: OVER-INDEBTED SUBJECTS AND THEIR COGNITIVE CONSEQUENCES

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