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| Author: | Hogarth, J. M. O'Donnell, K. H. |
| Title: | If You Build It, Will They Come? A Simulation of Financial Product Holdings Among Low-to-Moderate Income Households |
| Journal: | Journal of Consumer Policy
2000 : VOL. 23:4, p. 409-444 |
| Index terms: | INCOMES CUSTOMERS FINANCE |
| Language: | eng |
| Abstract: | The 1995 Survey of Consumer Finances was used to determine holdings of selected financial products by low-to- moderate income households, defined as households with incomes less than or equal to 80% of median household income for their region. First, the authors estimated determinants of holding bank accounts. Next, the authors estimated determinants of holding other selected products, contingent on holding a transaction account. Finally, the authors estimated the potential demand for these other products by households without accounts, should they become account holders. The authors found that if non- account holding households were to obtain accounts, they would increase their demand for credit cards, first mortgages, car loans, consumer loans, certificates of deposit, and IRA/Keogh accounts. |
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