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Has COVID changed consumer payment behavior?
Greene, Claire; Merry, Ellen; Stavins, Joanna - 2021
The COVID-19 pandemic has caused large changes in consumer spending, including how people make their payments. We use data from a nationally representative survey of U.S. consumers collected before COVID in 2018 and 2019 and during COVID in 2020 to analyze changes in consumer payment behavior...
Persistent link: https://www.econbiz.de/10012882644
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How consumers pay: Adoption and use of payments
Schuh, Scott; Stavins, Joanna - 2012
Using data from a nationally representative survey on consumer payment behavior, we estimate Heckman two-stage regressions on the adoption and use of seven different payment instruments. We find that the characteristics of payments are important in determining consumer payment behavior, even...
Persistent link: https://www.econbiz.de/10010343358
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Integrated household surveys: An assessment of U.S. methods and an innovation
Samphantharak, Krislert; Schuh, Scott; Townsend, Robert M. - 2017
We present a vision for improving household financial surveys by integrating responses from questionnaires more completely with financial statements and combining them with payments data from diaries. Integrated household financial accounts - balance sheet, income statement, and statement of...
Persistent link: https://www.econbiz.de/10012059581
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Are information disclosure mandates effective? Evidence from the credit card market
Elizondo, Alan; Seira, Enrique - 2014
Consumer protection in financial markets in the form of information disclosure is high on governments agendas, despite the fact that the empirical evidence on its effectiveness is scarce. To measure the impact of Truth-in-Lending-Act-type disclosures on default and indebtedness, as well as of...
Persistent link: https://www.econbiz.de/10011445078
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Can't pay or won't pay? Unemployment, negative equity, and strategic default
Gerardi, Kristopher; Herkenhoff, Kyle F.; Ohanian, Lee E.; … - 2015
Prior research has found that job loss, as proxied for by regional unemployment rates, is a weak predictor of mortgage default. In contrast, using micro data from the PSID, this paper finds that job loss and adverse financial shocks are important determinants of mortgage default. Households with...
Persistent link: https://www.econbiz.de/10011460697
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How does liquidity affect consumer payment choice?
Stavins, Joanna - 2019
borrow on their credit cards, adding to their existing debt. Thus the cost of relying on credit cards is likely very high for …
Persistent link: https://www.econbiz.de/10012388943
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Consumer payment choice for bill payments
Greene, Claire; Stavins, Joanna - 2020
Why do US consumers pay their bills the way they do? Using data from a recent diary of consumer payment behavior, we find that the type of bill consumers are paying and how they are paying (online or automatically) are important factors in determining the payment method, in addition to the...
Persistent link: https://www.econbiz.de/10012606348
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Payments evolution from paper to electronic: Bill payments and purchases
Stavins, Joanna - 2021
Consumer payments in the United States gradually have been shifting away from paper checks for the past several years. Cash use has declined as well, although at a much slower pace. As the number of check payments has decreased, those payments have been replaced with electronic and card...
Persistent link: https://www.econbiz.de/10012606364
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Payments evolution from paper to electronic payments by merchant type
Cohen, Ruth; Shy, Oz; Stavins, Joanna - 2022
The use of paper instruments-cash and checks-has been declining in the United States, and consumers have been gradually replacing paper with cards and electronic payments. Stavins (2021) examines the evolution of payments from paper to cards and electronic payments, while Shy (2020) shows the...
Persistent link: https://www.econbiz.de/10014304777
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Credit card debt puzzle: Liquid assets to pay bills
Greene, Claire; Stavins, Joanna - 2022
Using transaction data from a US consumer payments diary, we revisit the credit card debt puzzle-a scenario in which … consumers revolve credit card debt while also keeping liquid assets as bank account deposits. This scenario is very common: 42 … percent of consumers in our sample were borrower-savers in 2019 (those who carry $100 or more in credit card debt and $100 or …
Persistent link: https://www.econbiz.de/10014304779