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Credit card utilization and consumption over the life cycle and business cycle

Fulford, Scott L.; Schuh, Scott - 2017

estimate a structural model of life-cycle consumption and credit use in which credit cards can be used for payments …

Persistent link: https://www.econbiz.de/10012059588

The mortgage cash flow channel of monetary policy transmission: A tale of two countries

Cooper, Daniel; Garga, Vaishali; Luengo-Prado, Maria José - 2021

We study the mortgage cash flow channel of monetary policy transmission under fixed-rate mortgage (FRM) versus adjustable-rate mortgage (ARM) regimes by comparing the United States with primarily long-term FRMs and Spain with primarily ARMs that automatically reset annually. We find a robust...

Persistent link: https://www.econbiz.de/10012882640

Estimating the marginal propensity to consume using the distributions of income, consumption and wealth

Fisher, Jonathan; Johnson, David S.; Smeeding, Timothy M.; … - 2019

Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and …-wealth households cannot smooth consumption as much as other households do, which further implies that increasing wealth inequality … likely reduces aggregate consumption and limits economic growth. …

Persistent link: https://www.econbiz.de/10012059607

How does liquidity affect consumer payment choice?

Stavins, Joanna - 2019

We measure consumers' readiness to face emergency expenses. Based on data from a representative survey of US consumers, we find that financial readiness varies widely across consumers, with lowest-income, least-educated, unemployed, and black consumers most likely to have $0 saved for emergency...

Persistent link: https://www.econbiz.de/10012388943

Does getting a mortgage affect credit card use?

Fulford, Scott L.; Stavins, Joanna - 2019

Buying a house changes a household's balance sheet by simultaneously reducing liquidity and introducing mortgage payments, which may leave the household more exposed to other shocks. We find that this change affects credit card use in two ways: A debt effect increases credit card spending, while...

Persistent link: https://www.econbiz.de/10012388944

An approach for housing wealth estimation: The Mexican case

García, Ana Laura; González, Juan Pedro; Velázquez, … - 2022

consumption decisions. Despite the fact that measuring housing wealth is crucial for understanding households' economic behavior …

Persistent link: https://www.econbiz.de/10014319977

Trends in household portfolio composition

Bricker, Jesse; Moore, Kevin; Thompson, Jeffrey P. - 2019

We use data from the Federal Reserve Board's Survey of Consumer Finances (SCF) to explore how household asset portfolios in the United States evolved between 1989 and 2016. Throughout this period, two key assets - housing and financial market assets - drove the household balance sheet evolution;...

Persistent link: https://www.econbiz.de/10012388945

The role of credit on the evolution of wealth inequality in the USA

Oviedo Moguel, Rodolfo - 2020

In the USA, the share of household wealth held by the richest 1% increased from 23.5% in 1980 to 41.8% in 2012. This paper contributes to understanding the causes behind this increase. First, using an accounting decomposition, I show that more than half of the increase in the share of the top 1%...

Persistent link: https://www.econbiz.de/10012616406

Measuring consumer expenditures with payment diaries

Schuh, Scott - 2017

; 2)DCPC consumption estimates are 17 percent higher than personal consumption expendituresestimates in comparable …

Persistent link: https://www.econbiz.de/10011754830

The local aggregate effects of minimum wage increases

Cooper, Daniel; Luengo-Prado, Maria José; Parker, … - 2017

This paper examines the effect of minimum wage changes on local aggregate inflation and consumption growth. The paper …-wage workers. Interestingly, consumers adjust their real food consumption when minimum wages rise, suggesting that some workers …

Persistent link: https://www.econbiz.de/10012059582