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Do consumers choose the right credit contracts?
Agarwal, Sumit; Chomsisengphet, Souphala; Liu, Chunlin; … - 2005
A number of studies have pointed to various mistakes that consumers might make in their consumption-saving and …
Persistent link: https://www.econbiz.de/10010298314
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Are Japanese households financially healthy, and if so, why? A Group of Seven (G7) comparison
Horioka, Charles Yuji - 2012
In this paper, I conduct an international comparison of the financial health of households using data on household wealth and indebtedness for the Group of Seven (G7) countries and show that, even though household borrowings in Japan were the highest among the G7 countries, at least until 2000,...
Persistent link: https://www.econbiz.de/10010332271
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Costly contracts and consumer credit
Livshits, Igor; MacGee, James; Tertilt, Michèle - 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/10010291903
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Agarwal, Sumit; Liu, Chunlin; Souleles, Nicholas S. - 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 average...
Persistent link: https://www.econbiz.de/10010292101
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Credit card debt and payment use
Sprenger, Charles; Stavins, Joanna - 2008
Approximately half of credit card holders in the United States regularly carry unpaid credit card debt. These so-called revolvers exhibit payment behavior that differs from that of those who repay their entire credit card balance every month. Previous literature has focused on the adoption of...
Persistent link: https://www.econbiz.de/10010280914
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Subprime consumer credit demand: evidence from a lender's pricing experiment
Alan, Sule; Dumitrescu, Ruxandra; Loranth, Gyongyi - 2011
We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. What is novel about our contribution is that we were given details of a randomized interest rate experiment conducted by the lender between October 2006 and...
Persistent link: https://www.econbiz.de/10011605350
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Consumption velocity in a cash costly-credit model
Scheffel, Eric - 2008
variability in consumption velocity while at the same time successfully explaining other key statistics. Sufficient variability in … consumption into a production-based cash costly-credit model (see Gillman and Benk, 2007) makes the evolution of deposits more … credit production overshoot sufficiently to produce realistic variability in consumption velocity. The model succeeds in …
Persistent link: https://www.econbiz.de/10010288842
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - 2007
We use a new panel dataset of credit card accounts to analyze how consumer 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/10010298384
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The anatomy of consumption in a household foreign currency debt crisis
Gyöngyösi, Győző; Rariga, Judit; Verner, Emil - 2021
This paper studies the consumption response to an increase in the domestic value of foreign currency household debt … during a large depreciation. We use detailed consumption survey data that follows households for four years around Hungary …'s 2008 currency crisis. We find that, relative to similar local currency debtors, foreign currency debtors reduce consumption …
Persistent link: https://www.econbiz.de/10012802572
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Genügend Widerstandskraft? Immobilienfinanzierung und Haushaltsverschuldung in Deutschland, Großbritannien, den Niederlanden und den USA
Badunenko, Oleg; Barasinska, Nataliya; Schäfer, Dorothea - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 1, pp. 127-142
Die vorliegende Studie zielt auf die Einschätzung der ökonomischen Stabilität der Haushalte in Deutschland ab. Ausgehend von der Betrachtung der unterschiedlichen Immobilienfinanzierungsregime wird anhand aggregierter und disaggregierter Haushaltsdaten die wirtschaftliche und finanzielle...
Persistent link: https://www.econbiz.de/10010377874