Estimating taxpayer subsidies and individual repayment burdens of a student loan program in Spain

IF 0.7 4区经济学 Q3 ECONOMICS

Hacienda Publica Espanola-Review of Public Economics Pub Date : 2017-03-01 DOI:10.7866/HPE-RPE.17.1.3

F. Muñoz, Elena del Rey Canteli, N. González

引用次数: 3

Abstract

We study the program Prestamos Renta Universidad that provided loans to Master’s students in Spain between 2007 and 2010. We estimate predicted income functions and calculate individual repayment burdens and government cost using unconditional quantile regression analysis. We exploit the changing conditions of the successive calls to illustrate three important lessons for the design of student loan schemes: fixed monthly repayments exert an excessive burden to graduates at the lower end of the in¬come distribution; general interest rate subsidies are costly to the taxpayer and unfairly distributed; while the deferment of payments due in case of hardship protects low earners, general grace periods are costly and inequitable.

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西班牙学生贷款项目的纳税人补贴和个人还款负担估算

我们研究了Prestamos Renta Universidad项目，该项目在2007年至2010年间为西班牙的硕士生提供贷款。我们估计了预测的收入函数，并使用无条件分位数回归分析计算了个人还款负担和政府成本。我们利用连续呼吁的变化条件来说明学生贷款计划设计的三个重要教训：每月固定还款给收入分配低端的毕业生带来了过度负担；一般利率补贴对纳税人来说代价高昂，而且分配不公平；虽然在困难情况下推迟支付到期款项可以保护低收入者，但一般的宽限期成本高昂且不公平。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Hacienda Publica Espanola-Review of Public Economics Economics, Econometrics and Finance-Finance

CiteScore

0.90

自引率

14.30%

发文量

期刊介绍： Hacienda Pública Española/Review of Public Economics welcomes submissions on all areas of public economics. We seek to publish original and innovative research, applied and theoretical, related to the economic analysis of Government intervention. For example, but not exclusively: Taxation, Redistribution, Health, Education, Pensions, Governance, Fiscal Policy and Fiscal Federalism. In addition to regular submissions, the journal welcomes submissions of: -Survey Reviews, containing surveys of the literature regarding issues of interest in the Public Economics field; -Policy oriented reviews, showing the current contributions of Public Economics in relation to relevant contemporary issues affecting public decision-makers in the real world (Policy Watch); -Comments of previously published articles. Contributions to this section should be limited to a maximum of 2 000 words (12 pages). If deemed adequate, the authors of the commented article will be given the opportunity to react in a Reply. Both Comment and Reply will be published together. Articles for the Survey Reviews and Policy Watch section are subject to the same double blind reviwing procedure. The adequacy of Comments submitted for publication will be evaluated by the Executive Editors.