Recent Developments in the Credit Card Market and the Financial Obligations Ratio

Kathleen W. Johnson

35 citations0/0 files storedPalgrave Macmillan US eBooks

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Financial Literacy, Pension, Retirement Analysis Banking stability, regulation, efficiency Economic Theory and Policy

Abstract

Over the past 17 years, U.S. households in the aggregate have devoted an increasing share of their after-tax income to the payment of financial obligations. Part of the increase is attributable to a rise in the level of credit card debt, which has raised the share of households’ aggregate after-tax income that is devoted to credit card payments. Much of the rising share of credit card debt in overall financial obligations may stem from several notable changes in the credit card market over this period. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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2002Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data 1991The Failure of Competition in the Credit Card Market 2006Recent Changes in U.S. Family Finances: Evidence from the 2001 and 2004 Survey of Consumer Finances 2005Paying with plastic: the digital revolution in buying and borrowing 2006Can financial innovation help to explain the reduced volatility of economic activity?1995Consumer Rationality and Credit Cards 1994Consumer Behavior and the Stickiness of Credit Card Interest Rates 2002Mortgage Refinancing in 2001 and Early 2002

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