In a new paper titled, “Borrowing from the Future: 401(k) Plan Loans and Loan Defaults,” Olivia S. Mitchell, Wharton professor of business economics and public policy, analyzes the loans people take from their 401(k) plans, why they take these loans and what happens when these borrowers leave their jobs.

You can read the transcript of her conversation with the Wharton School’s online business journal, Knowledge@Wharton, here.