Greene, Claire; Stavins, Joanna - 2022 - This version: June 2022
consumers revolve credit card debt while also keeping liquid assets as bank account deposits. This scenario is very common: 42 … more in liquid assets). We explain the puzzle by showing that consumers need their liquid assets to pay monthly bills and …, borrower-savers' credit card debt exceeded their liquid assets. The average borrower-saver carried almost $6,400 in unpaid …