haku: @indexterm DEBT FINANCING / yhteensä: 179
viite: 3 / 179
| Tekijä: | Bertaut, C.C. Haliassos, M. Reiter, M. |
| Otsikko: | Credit card debt puzzles and debt revolvers for self control |
| Lehti: | Review of finance
2009 : OCT, VOL. 13:4, p. 657-692 |
| Asiasana: | credit cards debt financing models USA |
| Kieli: | eng |
| Tiivistelmä: | High-interest debt is revolved by most U.S. credit card (hereafter as: cr-cds.) holders. This paper models separation of accounting from shopping allowed by cr-cds., in a rational, dynamic game. When the shopper is more impatient than the accountant, selling assets to repay debt is not necessarily optimal, as the shopper can restore debt. Modest relative impatience generates asset-debt co-existence and target utilization rates. Empirical evidence is consistent with a role for spending control considerations etc. |
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