familiarity differentials by considering (i) both unfamiliar 'capitalist' products (stocks, bonds, and consumer credit) and ones … grew. They were more likely to use consumer debt, partly to catch up with richer new peers. We find no signs of abrupt …

-constrained households initially use more than 70% of the extra liquidity generated by mortgage rate reductions to repay credit card debt-- a … during the housing crisis. We use proprietary loan-level panel data matched to consumer credit records using borrowers … relative terms, and an overall improvement in household credit standing. New financing of durable consumption by borrowers with …

during the housing crisis. We use proprietary loan-level panel data matched to consumer credit records using borrowers … in household credit standing. We identify important heterogeneity in the ability of monetary policy to stimulate … households' consumption: Low-wealth borrowers are especially responsive to reductions in mortgage payments, while credit …

-constrained households initially use more than 70% of the extra liquidity generated by mortgage rate reductions to repay credit card debt-- a … during the housing crisis. We use proprietary loan-level panel data matched to consumer credit records using borrowers … relative terms, and an overall improvement in household credit standing. New financing of durable consumption by borrowers with …