Published Review of Economic Studies Online 24 Sep 2025 Published Jul 2026Contract Terms, Employment Shocks, and Default in Credit CardsSara G Castellanos · Diego Jiménez-Hernández · Aprajit Mahajan · Eduardo Alcaraz Prous · Enrique SeiraThis paper asks two related questions bearing on financial inclusion policy in developing countries: (1) How effective are credit card contract term changes — specifically interest rate reductions and …