Johnson, Kathleen W.; Pence, Karen M.; Vine, Daniel J. - Federal Reserve Board (Board of Governors of the … - 2014
households. We explore the link between lending conditions and vehicle purchases with a novel gauge of credit supply conditions … indicates that credit conditions are a significant influence on auto sales, as large as factors such as unemployment and income …. Estimates from the household-level model show that the new car purchases of households that are more likely to depend on credit …