Telyukova, Irina A. - Volkswirtschaftliche Fakultät, … - 2007
credit card debt and holding sizeable amounts of liquid assets. These consumers report paying, on average, a 14% interest … as the “credit card debt puzzle.” In this paper, I pose and quantitatively evaluate the following explanation for this … puzzle: households that accumulate credit card debt may not pay it off using their money in the bank, because they expect to …