Most US credit card holders revolve high-interest debt, often combined with substantial (i) asset accumulation by …-existence, as well as target credit card utilization rates consistent with Gross and Souleles (2002). The benchmark model is …

Most US credit card holders revolve high-interest debt, often combined with substantial (i) asset accumulation by …-existence, as well as target credit card utilization rates consistent with Gross and Souleles (2002). The benchmark model is …

of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between target and actual … wealth, with the target determined by credit conditions and uncertainty. An estimated structural version of the model … suggests that increased credit availability accounts for most of the long-term saving decline, while fluctuations in wealth and …

rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized … their credit card payments and thereby paying down debt. But soon afterwards their spending increased, counter to the …We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax …

increases initiated by banks lead households to restore previous utilization rates. High-interest credit card debt co … associated with reduced social stigma, ease of procedures, and financial incentives. Co-existence of credit card debt with … observed co-existence of credit card debt with low-interest liquid assets. A framework of accountant-shopper households, in …

offset rising house prices by increasing their housing debt, and used some of the proceeds to invest in other assets. We also …