Estimating credit constraints among US households
We investigate the issue of pervasive credit constraints among US households. There is considerable debate about the incidence of constraints and whether the observed low borrowing in some groups of the population arises from low demand or from denial of credit. Using information on unsecured borrowing from the Consumer Expenditure Survey for (1988-1993), the paper estimates credit constraints and shows how these differ with household characteristics. It finds that around 31% of households are constrained, with young college educated households being the most constrained. Moreover, the low level of borrowing observed among black households is shown to be a demand rather than a supply effect. Copyright 2007 , Oxford University Press.
Year of publication: |
2007
|
---|---|
Authors: | Grant, Charles |
Published in: |
Oxford Economic Papers. - Oxford University Press. - Vol. 59.2007, 4, p. 583-605
|
Publisher: |
Oxford University Press |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Redistributive taxation and personal bankruptcy in US states
Grant, Charles, (2005)
-
Evidence on the insurance effect of marginal income taxes
Grant, Charles, (2008)
-
Embracing the dragon: can the EU and China be friends?
Barysch, Katinka, (2005)
- More ...