Cox, Donald; Jappelli, Tullio - In: Journal of Money, Credit and Banking 25 (1993) 2, pp. 197-213
This paper explores the effects of liquidity constraints on consumer liabilities. While much empirical evidence attests to the importance of liquidity constraints in the U.S. economy, evidence about the effects of borrowing constraints on consumer balance sheets is scarce. Using the 1983 Survey...
