How important is variability in consumer credit limits?

Using a large panel this paper first demonstrates that individuals gain and lose access to credit frequently. The estimated credit limit volatility is larger than most estimates of income volatility and varies over the business cycle. Within a model, variable credit limits create a reason for househ...

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Veröffentlicht in:	Journal of monetary economics 2015-05, Vol.72, p.42-63
1. Verfasser:	Fulford, Scott L.
Format:	Artikel
Sprache:	eng
Schlagworte:	Business cycles Consumer behaviour Consumer credit Credit card puzzle Credit limits Credit market Decision making models Financial systems Household finance Intertemporal consumption Monetary economics Precaution Studies U.S.A Volatility
Online-Zugang:	Volltext
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