The CARD Act and Young Borrowers: The Effects and the Affected

被引：11

作者：

Debbaut, Peter ^{[1
]}

Ghent, Andra ^{[2
]}

Kudlyak, Marianna ^{[3
]}

机构：

[1] North Carolina State Univ, Raleigh, NC 27695 USA

[2] Univ Wisconsin Madison, Madison, WI USA

[3] Fed Reserve Bank Richmond, Res Dept, Richmond, VA USA

来源：

JOURNAL OF MONEY CREDIT AND BANKING | 2016年 / 48卷 / 07期

关键词：

young borrowers; life cycle borrowing; consumer protection; CONSUMER-BEHAVIOR; COLLEGE-STUDENTS; INTEREST-RATES; CREDIT;

D O I：

10.1111/jmcb.12340

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We study a new law that restricts credit to individuals under age 21. We first use a difference-in-difference approach to estimate the effect of the law on credit card availability. Following the passage of the law, individuals under age 21 are 8 percentage points (15%) less likely to have a credit card, have fewer cards, and, conditional on having a card at all, are 35% more likely to have a cosigned card. We then use data from before the passage of the law to identify the characteristics of those individuals most likely to be affected by the Act.

引用

页码：1495 / 1513

页数：19

共 16 条

[1] Regulating Consumer Financial Products: Evidence from Credit Cards [J].