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Tight credit conditions continue to constrain the housing recovery

Rappaport, Jordan; Willen, Paul S. - Federal Reserve Bank of Boston - 2014

The expansion of Federal Housing Administration lending has let households with imperfect credit or the inability to … applying strict underwriting conditions on all borrowers. Clarifying what constitutes approved lending may help relax credit …

Persistent link: https://www.econbiz.de/10010886230

The cost of fiscal policy uncertainty: industry evidence of its impact on the labor market

Wang, J. Christina - Federal Reserve Bank of Boston - 2013

The anemic pace of the recovery of the U.S. economy from the Great Recession has frequently been blamed on heightened uncertainty, much of which concerns the nation's fiscal policy. Intuition suggests that increased policy uncertainty likely has different impacts on industries with different...

Persistent link: https://www.econbiz.de/10010744728

The forecasting power of consumer attitudes for consumer spending

Barnes, Michelle L.; Olivei, Giovanni P. - Federal Reserve Bank of Boston - 2014

The widely studied Reuters/Michigan Index of Consumer Sentiment is constructed from the answers to five questions from the more comprehensive Reuters/Michigan Surveys of Consumers. Yet little work has been done on what predictive power the information taken from this more thorough compilation of...

Persistent link: https://www.econbiz.de/10011147062

Debt and the effects of fiscal policy

Favero, Carlo; Giavazzi, Francesco - Federal Reserve Bank of Boston - 2007

the effects of fiscal shocks, keeping track of the debt dynamics that arise following a fiscal shock and allowing for the … possibility that taxes, spending, and interest rates might respond to the level of the debt as it evolves over time. We show that … the absence of a debt feedback effect can result in incorrect estimates of the dynamic effects of fiscal shocks. In …

Persistent link: https://www.econbiz.de/10005713291

Defaultable debt, interest rates, and the current account

Aguiar, Mark; Gopinath, Gita - Federal Reserve Bank of Boston - 2004

Argentina’s default in 2002. In this paper, we develop a quantitative model of debt and default in a small open economy. We use …

Persistent link: https://www.econbiz.de/10005501366

How important is variability in consumer credit limits?

Fulford, Scott L. - Federal Reserve Bank of Boston - 2010

Credit limit variability is a crucial aspect of the consumption, savings, and debt decisions of households in the … the United States hold both debt and liquid savings at the same time. The approach also offers an important new channel …

Persistent link: https://www.econbiz.de/10010938785

Nudging credit scores in the field: the effect of text reminders on creditworthiness in the United States

Bracha, Anat; Meier, Stephan - Federal Reserve Bank of Boston - 2014

Given the fundamental role that credit scores play in day-to-day life in the United States, it is very important to understand what can be done to help individuals improve their credit scores. This question is important in general, and especially important for the low-to-moderate-income (LMI)...

Persistent link: https://www.econbiz.de/10011274544

U.S. consumers' holdings and use of $100 bills

Greene, Claire; Schuh, Scott - Federal Reserve Bank of Boston - 2014

Conventional wisdom asserts that $100 bills are often associated with crime and foreign cash holdings, leading some commentators to call for their elimination; in light of this proposal, it is useful to examine the legal, domestic use of cash. This report uses new data from the 2012 Diary of...

Persistent link: https://www.econbiz.de/10011274942

The 2011 and 2012 Surveys of Consumer Payment Choice

Schuh, Scott; Stavins, Joanna - Federal Reserve Bank of Boston - 2014

In 2012, the number of consumer payments did not change significantly from 2010 as the economy settled into steady expansion following the financial crisis and recession. After increasing by 28 percent from 2008 to 2010, cash payments by consumers fell back by 10 percent from 2010 to 2012, while...

Persistent link: https://www.econbiz.de/10011274943

U.S. consumer holdings and use of $1 Bills

Fulford, Scott L.; Greene, Claire; Murdock, William - Federal Reserve Bank of Boston - 2015

Small denominations play a special role in a payments ecosystem because they facilitate exchange for small-value goods and services. This report examines the $1 bill holdings of adults in the United States using data from the Diary of Consumer Payments Choice (DCPC). Simply knowing the number of...

Persistent link: https://www.econbiz.de/10011274944