Horvath, Akos; Kay, Benjamin S.; Wix, Carlo - 2021
We use credit card data from the Federal Reserve Board's FR Y-14M reports to study the impact of the COVID-19 shock on … sharp decrease in credit card transactions and outstanding balances in March and April. While spending starts to recover by … in credit card originations, especially to risky borrowers. Consistent with a tightening of credit supply and a flight …