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| Author: | Grant, C. |
| Title: | Estimating credit constraints among US households |
| Journal: | Oxford Economic Papers
2007 : OCT, VOL. 59:4, p. 583-605 |
| Index terms: | borrowing consumer credit consumer behaviour credit rationing household economics supply and demand USA |
| Language: | eng |
| Abstract: | The paper explores the issue of pervasive credit constraints among US households. There is an ongoing debate about the causes of low observed borrowing in some groups and whether the low demand or the denial of credit is the explanation for the low levels of borrowing. Based on data from Consumer Expenditure Survey for 1988-1993, credit constraints are estimated and compared between households with different characteristics. The results show that around 31% of households suffer from credit constraints and that the low borrowing observed among black households is more a demand than a supply effect. |
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