# Professor Kim Schoenholtz's blog post on peer-to-peer lending is highlighted

1 Faculty News October 20, 2016 ![TechCrunch logo](/sites/default/files/styles/246w/public/assets/images/con_033026.jpg?itok=Y0hSHg3b)>

Excerpt from [TechCrunch](https://techcrunch.com/2016/10/20/enjoy-the-return-and-watch-for-unemployment/) -- "An article by Stephen Cecchetti and [Kermit Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) analyzes the relationship between credit card default rates and unemployment rates. As expected, the article suggests a strong dependency — default rates are expected to increase by 0.55 percent for each 1 percent growth in unemployment."

[Read more](https://techcrunch.com/2016/10/20/enjoy-the-return-and-watch-for-unemployment/)