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Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data

Gross, David B. - 2010

This paper utilizes a unique new dataset of credit card accounts to analyze how people respond to changes in credit supply. The data consist of a panel of thousands of individual credit card accounts from several different card issuers, with associated credit bureau data. We estimate both...

Persistent link: https://www.econbiz.de/10012763150

Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow?

Agarwal, Sumit - 2015

correlation between MPB and MPL reduces the impact of changes in banks' cost of funds on aggregate household borrowing, and …

Persistent link: https://www.econbiz.de/10013015102

Houses as Atms? Mortgage Refinancing and Macroeconomic Uncertainty

Chen, Hui - 2016

We estimate a structural model of household liquidity management in the presence of long-term mortgages. Households … accounts for the run-up in household debt and consumption boom prior to the financial crisis, their subsequent collapse, and …

Persistent link: https://www.econbiz.de/10013007166

Credit, Bankruptcy, and Aggregate Fluctuations

Nakajima, Makoto - 2014

theory of unsecured credit account for the high volatility and procyclicality of credit and the high volatility and …

Persistent link: https://www.econbiz.de/10013044983

Costly Contracts and Consumer Credit

Livshits, Igor - 2011

Financial innovations are a common explanation of the rise in consumer credit and bankruptcies. To evaluate this story, we develop a simple model that incorporates two key frictions: asymmetric information about borrowers' risk of default and a fixed cost to create each contract offered by...

Persistent link: https://www.econbiz.de/10013120205

Minimum Payments and Debt Paydown in Consumer Credit Cards

Keys, Benjamin J. - 2016

significant impact on household debt …

Persistent link: https://www.econbiz.de/10012981098

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data

Agarwal, Sumit - 2007

We use a new panel dataset of credit card accounts to analyze how consumers responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...

Persistent link: https://www.econbiz.de/10012775483

Household Inequality and the Consumption Response to Aggregate Real Shocks

Amromin, Gene - 2017

To what extent does household inequality affect the response of aggregate consumption to aggregate real shocks? We … first review two state-of-the-art papers with household heterogeneity and aggregate uncertainty. They teach us that having a …

Persistent link: https://www.econbiz.de/10012941979

Mortgage Rates, Household Balance Sheets, and the Real Economy

Keys, Benjamin J. - 2014

This paper investigates the impact of lower mortgage rates on household balance sheets and other economic outcomes … relative terms, and an overall improvement in household credit standing. New financing of durable consumption by borrowers with … implications for the pass-through of monetary policy to the real economy through mortgage contracts and household balance sheets …

Persistent link: https://www.econbiz.de/10013046153

House Price Gains and U.S. Household Spending from 2002 to 2006

Mian, Atif R. - 2014

We examine the effect of rising U.S. house prices on borrowing and spending from 2002 to 2006. There is strong heterogeneity in the marginal propensity to borrow and spend. Households in low income zip codes aggressively liquefy home equity when house prices rise, and they increase spending...

Persistent link: https://www.econbiz.de/10013053478

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